The healthcare industry is witnessing a significant shift in the way drugs are delivered to patients. The global injectable drug delivery market are becoming increasingly popular as healthcare professionals seek better ways to treat life-threatening diseases. According to industry analysis, the injectable drug delivery market is estimated to be around US$ 49.44 billion as of 2024. With the integration of telemedicine services in developed and developing parts of the world, the market is expected to grow even more.
The market has witnessed steady growth due to this trend, with a projected CAGR of 8.70% through 2034. Pharmaceutical companies operating in the medical industry are capitalizing on the opportunity to create more efficient devices for treating chronic and age-related conditions.
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As chronic diseases continue to increase globally, the market’s valuation is expected to reach an impressive US$ 113.87 billion by the end of 2034. The demand for more convenient and efficient drug delivery methods will continue to be a driving force for growth in this market in the upcoming years. Companies will need to keep innovating their offerings to keep up with this demand.
“With the rising incidences of chronic diseases in developing and developed parts of the world, companies involved in the injectable drug delivery market must curate product offerings that cater to diverse patient needs, enhance treatment adherence, and ensure efficient and precise drug delivery”, opines an FMI analyst.
Injectable Drug Delivery Industry Trends:
The injectable drug delivery market is experiencing significant growth due to several key trends:
- Rising Demand for Biologics: Biologics, complex drugs derived from living organisms, often require injection for effective delivery. The increasing use of biologics for various diseases is driving the demand for injectable drug delivery systems.
- Prevalence of Chronic Diseases: Chronic diseases like diabetes, cancer, and autoimmune disorders are becoming more prevalent globally. Injectable medications offer effective treatment options for many of these conditions.
- Technological Advancements: New technologies like connected devices, self-injection systems, and needle-free injectors are improving patient convenience, compliance, and safety.
- Focus on Developing Countries: Growing healthcare infrastructure and rising disposable income in developing countries like China, India, and Brazil are creating lucrative markets for injectable drug delivery solutions.
Injectable Drug Delivery Market Opportunities:
The trends outlined above present exciting opportunities for companies in the injectable drug delivery market. Here are some key areas:
- Developing innovative drug delivery systems: Focus on patient-centric solutions that improve convenience, compliance, and safety.
- Targeting specific diseases: Develop specialized injectable solutions for prevalent chronic diseases in both developed and developing countries.
- Expanding into emerging markets: Capitalize on the growing demand for injectable drugs in developing countries with improving healthcare infrastructure.
- Leveraging Industry 4.0: Integrate advanced technologies like connected devices and data analytics to improve medication adherence and patient outcomes.
In conclusion, the injectable drug delivery market offers significant growth potential due to rising demand for biologics, chronic diseases, and technological advancements. Companies that can cater to the specific needs of both developed and developing regions and leverage Industry 4.0 advancements are well-positioned to thrive in this market.
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Key Takeaways from the Market Study:
- The insulin pins segment dominates the injectable drug delivery market with an expected share of 50.50% in 2024.
- Based on the technology, the non-smart injectors segment leads the injectable drug delivery industry with an anticipated share of 83.80% in 2024.
- The injectable drug delivery industry in India is anticipated to grow at a CAGR of 9.50% through 2034.
- The injectable drug delivery industry in China is estimated to rise at a 10.10% CAGR through 2034.
- The injectable drug delivery industry in Brazil has the potential to increase at 9.80% CAGR through 2034.
- The United Kingdom injectable drug delivery industry is predicted to rise by 8.80% CAGR through 2034.
- The injectable drug delivery market in Japan is anticipated to grow at a CAGR of 8.50% through 2034.
Competitive Landscape:
The injectable drug delivery market is constantly evolving, with innovations and methodologies entering the market regularly.
- International companies are investing billions of dollars in developing new devices and medical procedures for the healthcare sector, which is likely to result in an upward trend in the market.
- Domestic companies are developing devices according to their country’s specific needs. For instance, Japan-based companies are developing products to address the healthcare needs of their aging population.
Recent Developments:
- February 2024 – Silo Pharma, Inc. successfully delivers SP-26 Ketamine Implant for fibromyalgia and chronic pain treatment.
- January 2024 – Kindeva Drug Delivery launches a new global business unit, offering analytical support for the pharmaceutical and medical device sector.
- October 2023 – Stevanato Group S.p.A. introduces on-body drug delivery platform, Vertiva™, at PDA Universe and CPhI Barcelona.
- August 2022 – UNC School of Medicine scientists develop long-acting injectable rifabutin for tuberculosis treatment, demonstrating in vivo efficacy.
Key Companies:
- Becton Dickinson and Company
- Pfizer Inc.
- Novartis AG
- Eli Lilly and Company
- Novo Nordisk A/S
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Johnson & Johnson
- Sanofi SA
- Teva Pharmaceutical Industries Ltd.
- Baxter International Inc.
- Roche Holding AG
- Amgen Inc.
- AstraZeneca plc
- Biogen Inc.
- Bristol Myers Squibb Company
- Mylan N.V.
- Fresenius SE & Co. KGaA
- AbbVie Inc.
- CSL Limited
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Key Segments of the Injectable Drug Delivery Industry:
By Product Type:
- Self-Injector
- Needle-Free Injectors
- Auto-Injectors
- Wearable Injectors
- Insulin Pens
By Technology:
- Non-Smart Injectors
- Smart Injectors
By Usage:
- Disposable Injectors
- Reusable Injectors
By Indication:
- Anaphylaxis
- Diabetes
- Cardiovascular Disease
- Multiple Sclerosis
- Rheumatoid Arthritis
- Cancer
By Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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