Injectable Drug Delivery Market is anticipated to reach US$ 106.4 billion by 2033
During the forecast period, the Injectable Drug Delivery Market Demand is expected to grow at a steady CAGR of 8.9%. In 2023, the market is worth US$ 45.3 billion, with revenue expected to reach US$ 106.4 billion by 2033. Moreover, the subtype, prefilled of needle-free injectors segment is expected to have a dominant share of the needle-free type of Injectable Drug Delivery market due to its ease of application. North America is expected to maintain its dominance in the global Injectable Drug Delivery market due to the presence of a large number of manufacturers of Injectable Drug Delivery devices, mostly operating from the US.
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Increase in prevalence of chronic diseases such as diabetes, cancer and rheumatoid arthritis along with other factors such as need for patient-controlled drug release and increased risk of needle stick injuries are the prominent factors expected to drive the growth of the Injectable Drug Delivery market. Technological advancements have resulted in better product offerings in the Injectable Drug Delivery market. However, some factors such as strict regulatory framework and premium pricing of products are expected to hinder the growth of the Injectable Drug Delivery market. The key trend of the Injectable Drug Delivery market is the increasing demand for point-of-care devices. Injectable Drug Delivery devices are easy to self-administer and do not require a healthcare professional for administration, which as a result skips the need of hospital visits and relatively lowers the healthcare spending for an individual.
The global Injectable Drug Delivery market has been segmented on the basis of product type, usage, end users and regions. The disposable Injectable Drug Delivery segment is expected to be the most attractive usage segment. Among the three end users, the hospital pharmacies is expected to be the dominant segment due to benefits such as favourable reimbursement policies in most of the countries across the globe.
In terms of value, the global Injectable Drug Delivery market is expected to expand at 8.9% CAGR over the forecast period. With nearly 32% market share, North America was a dominant regional market for Injectable Drug Delivery in 2017, due to growing number of manufacturers in the region and early adoption of new technologies. Western Europe is expected to be the second large market in Injectable Drug Delivery, with Germany, the U.K. and France occupying major shares. APEJ is expected to be third large market for Injectable Drug Delivery, due to requirement of low capital for manufacturing Injectable Drug Delivery.
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Key Research Findings
- According to FMI, the US market is estimated to reach US$ 31.2 billion by 2033.
- Over the projection period, China is expected to hold a commanding share of the East Asian market. According to FMI, the Chinese market would be worth US$ 9.3 billion by 2033.
- According to FMI, the market for Injectable Drug Delivery systems in the United Kingdom is expected to reach US$ 5.3 billion by 2033.
- The new product launches, combined with R&D, are expected to propel the market, which is expected to generate US$ 5.4 billion by 2033.
- According to the FMI analysis, the insulin pens segment is expected to grow at a 7.2% CAGR between 2023 and 2033, up from a 6.4% CAGR during the previous forecast.
- In terms of usage, disposable injector sales are expected to increase over the evaluation period. The segment is expected to grow at an 8.2% CAGR between 2023 and 2033, up from a 7.5% CAGR in the previous estimate.
Major Contributors of the Injectable Drug Delivery Market are
- Amgen Inc.
- Antares Pharma Inc.
- Becton Dickinson and Company
- Consort Medical Plc (Bespak)
- Medtronic plc,
- Mylan N.V.
- SHL Group
- West Pharmaceutical Services
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- Needle-free Injectors
- Disposable Injectors
- Reusable Injectors
- Hospital Pharmacies
- Retail Pharmacies
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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