The ” Injectable Drug Delivery Devices Market – Global Industry Outlook and Forecast 2022-2028” report has been published to Introspective Market Research.
Drug delivery devices are specialized tools used to administer a drug or therapeutic agents through a specific route of administration. The parenteral route also called the injectable route is the most commonly used and long-lasting method for administration of the drug. The administration requires skilled medical personnel who administer the medication with the help of injectable drug delivery devices. Injectable drug delivery devices are a type of medical device that delivers medications or other fluid into the body in accurate dose and on time. Conventional injectable, pre-filled syringes, auto-injectors, and pen-injectors are the main types of injectable drug delivery devices. The injectable drug delivery devices are used in hospitals and clinics, pharmaceutical companies, biotechnological companies, home healthcare settings, and research laboratories for the treatment of various diseases such as hormonal disorders, autoimmune diseases, oncology, pain management, orphan diseases, respiratory therapy, and others. The rising prevalence of chronic diseases has accelerated the growth of injectable drug delivery devices.
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Major Key Players for Injectable Drug Delivery Devices Market:
- Dickinson and Company (U.S.)
- Pfizer Inc. (U.S.)
- Teva Pharmaceuticals Industries Ltd. (Israel)
- Eli Lilly and Company (U.S.)
- Baxter International Inc. (U.S.)
- Schott AG (Germany)
- Gerresheimer (Germany)
- Ypsomed (Switzerland)
- Braun Melsungen (Germany)
Market Dynamics and Factors:
The injectable drug delivery devices market is expected to grow in the projected period at a significant rate due to the increase in demand for drugs with strong efficacy, less toxicity, and improved safety. The rise of chronic diseases such as cancer, and diabetes and the increasing geriatric population has also driven the growth of the global injectable drug delivery devices market. In addition to this growth, the adoption of self-injectable drugs is a growing factor for the market. The major advantages of self-injectable devices are they convenient to use and low cost. These devices were developed with the help of feedback from patients. Increasing awareness about self-administration has helped in growing the market during the forecast period.
Injectable Drug Delivery Devices Market Report Highlight:
- By type, the devices segment is expected to have the maximum market share during the forecast period. Devices are used for drug delivery in the form of liquid, gaseous, or solid dosage forms. The connected smart devices are the most widely used and it gives doctors and patients a new level of digital visibility and insight into each course of therapy, which will boost the growth of the segment.
- By parenteral route, the subcutaneous segment is anticipated to lead the development of the injectable drug delivery devices market. In this type of route, a short needle injection is utilized to inject a drug into the tissue layer between the skin and the muscle. These routes are used for diabetes patients. The increasing prevalence of diabetes helps to grow the market.
- By End users, the home care settings segment is anticipated to register highest growth during the forecast period attributed to the fact that home care setting is the most flexible option for the treatment of any disease.
- Based on the region, Asia Pacific is anticipated to grab the maximum market share of the injectable drug delivery devices market over the projected period. The increasing geriatric population and a large number of patients with chronic diseases such as cancer, and diabetes support the growth of the market in the projected period.
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Key Industry Development:
In October 2021, The Ypsomed has presented the world’s first autoinjector for prefilled syringes with an integrated connection. The name of that device is the YpsoMate autoinjector used in chronic conditions to treat themselves at home, reducing the strain on the medical system.
In April 2020, TEVA Pharmaceuticals USA, Inc. has announced the launch of the AJOVY auto-injector in the United States. This device is used to treat migraines in adults as a preventative measure.
Injectable Drug Delivery Devices Market Segmentation:
By Parenteral route
- Homecare Settings
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For this report, Introspective Market Research has segmented the Injectable Drug Delivery Devices Market based on the region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Injectable Drug Delivery Devices Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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