Injectable Drug Delivery Devices Market to touch 31 billion by the end of 2023| Emerging Trends and Top Leaders 2023
Market Research Future with their unique quality of simplifying the market research study, announces a deep study report on “Global Injectable Drug Delivery Devices Market Research Report- Forecast To 2023” Gives industry size, top players and worldwide demand
Pune, India – March 18, 2019 /MarketersMedia/ —
Global Injectable Drug Delivery Devices Market to capture a compound annual growth rate of 11.5% between 2018 and 2023. A wide range of devices fall under the category of injectable drug delivery devices including conventional syringes, needle-free injectors, and auto and pen injectors. Demand for such devices has continued to increase in recent years as they are being used to treatment of medical conditions that witnessing a high prevalence rate. By the year 2023, the global injectable drug delivery devices market is set to surpass a valuation of USD 31,900 Mn.
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Advances in design and technology are allowing their usage in more complex delivery procedures. Introduction of next-generation devices with superior functional capabilities is having a positive impact on the global injectable drug delivery devices market. Others factor that can be linked with the market’s growth include increasing prevalence of chronic diseases, growing adoption of self-injectable devices, and rising FDA approvals.
The global market for injectable drug delivery devices has been segmented on the basis of devices, therapeutic application, usage pattern, site of delivery, distribution channel, facility of use, and region. Devices that are utilized for injectable drug delivery include conventional injection devices and self-injection devices. The conventional injection devices segment has been sub-segmented into material, product, and utility. The material sub-segment includes glass and plastic. The product sub-segment includes fillable syringes and prefilled syringes. The utility sub-segment includes disposable injection devices and reusable injection devices. The self-injectable devices segment has been sub-segmented into needle-free injectors and pen systems and auto injectors.
The therapeutic application areas covered in the report include autoimmune diseases, hormonal disorders, cancer, and others. The autoimmune diseases segment is leading the global injectable drug delivery devices market with a CAGR of 11.5% and is projected to reach the valuation of USD 19,913.7 Mn by the end of 2023. Based on usage pattern, the global injectable drug delivery devices market has been segmented into curative and immunization. The curative segment is projecting fastest growth in the global injectable drug delivery devices market at a CAGR of 11.5% and is anticipated to reach the market valuation of 33,456.3 Mn by the end of 2023.
Based on site of delivery, the market has been segmented into intramuscular, subcutaneous, and intradermal. Among these, the intramuscular segment is expanding at the highest CAGR of 11.5% and is anticipated to reach the valuation of USD 20,248.5 Mn by the end of the review period. Based on distribution channel, the global injectable drug delivery devices market has been segmented into hospital & retail pharmacies and online platforms. The hospitals & retail pharmacies segment is dominating the global injectable drug delivery devices market. Whereas, the online platform segment is projecting fastest growth at a CAGR of 11.4% during the assessment period. Based on facility of use, the market has been segmented into hospitals and clinics, home care settings, and others. The hospitals and clinics segment is expanding at the highest CAGR of 11.7 % in the global injectable drug delivery market.
Competitive Dashboard:
The key players profiled by MRFR that are operating in the global injectable devices market are Eisai Co. Ltd., Antares Pharma, AstraZeneca, Becton, Dickinson and Company, Eli Lilly and Company, F.Hoffmann-La Roche AG, Johnson & Johnson Services Inc., Mylan N.V., Novartis AG, Novo Nordisk, Pfizer Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Inovio Pharmaceuticals Inc.
Regional Analysis:
The global injectable drug delivery devices market, based on region, has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The market in the Americas is leading the global injectable drug delivery devices market and is anticipated to reach the valuation of USD 17,401.8 Mn by the end of the assessment period at the CAGR of 11.3%. Rapid expansion of biotechnological industry, increased prevalence of chronic diseases such as diabetes and cancer and high healthcare expenditure in the well-developed healthcare sector are majorly propelling the expansion of the injectable drug delivery devices market in this region.
Europe commanded for the second largest market share in the year 2017 and is anticipated to reach the valuation of USD 13,074.3 Mn by the end of the assessment period at a CAGR of 11.2%. Increased funding for R&D and easy adoption of technologically advanced healthcare solutions are fueling the expansion of the injectable drug delivery devices market in the Europe region. The Asia Pacific region is anticipated to register the fastest growth at a CAGR of 11.4% owing to the rising demand for therapeutics in the evolving healthcare sector in the emerging economies of this region. Lack of awareness and less exposure to primary healthcare services in the underdeveloped countries are leading to the slow growth of injectable drug delivery devices market in the Middle East and Africa region.
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