Injectable Drug Delivery Devices Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 11.5 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and it's growth?
Injectable Drug Delivery Devices Market Analysis
Injectable Drug Delivery Devices Market is poised to grow at a CAGR of 11.5% over the forecast period, 2022-2027.
The development of vaccines against COVID-19 is expected to have a significant impact on the growth of the injectable drug delivery systems as a large-scale global vaccination program is underway, which has increased the demand for needles and syringes in the market. According to the June 2021 update from the Ministry of Health and Family Welfare of India, the Health Ministry has placed an order with Serum Institute of India for 25 crore doses of Covishield and with Bharat Biotech for 19crore doses of Covaxin to achieve universalization of vaccination in the country, which is expected to positively impact the market. Further, many companies offering therapeutics for COVID-19 launched new injectable products for the prevention and treatment, which is also expected to have a significant impact on the growth of the studied market. Therefore, the COVID-19 pandemic is expected to have a significant impact on the growth of the injectable drug delivery devices market.
The injectable drug delivery devices market is expected to show rapid growth due to the growing burden of chronic diseases, benefits, and convenience, leading to increased demand for self-injectors and growth of the biologics market, leading to increased demand for injectors.
The growing burden of chronic diseases has led to a rise in the overall use of syringes, particularly disposable syringes. It has been observed that most deaths by chronic diseases can be attributed to cardiovascular diseases, obesity, and diabetes. This is expected to affect the emerging countries the most, as population growth is found to be the most significant factor in developing areas. For instance, as per the data published by the American College of Chest Physicians in July 2021, lung cancer is one of the most frequently diagnosed cancers. It accounts for 11.6% of the total cancer cases globally. Worldwide, lung cancer incidents are estimated to increase by 38%, to 2.89 million, by 2030.
Furthermore, the launch of new technologically integrated products focused on improving the dosage administration will drive market growth. For instance, in January 2022, Innovation Zed, SHL Medical’s official partner for connected pen injector solutions, announced its plans to launch InsulCheck DOSE, a connected add-on device that transforms traditional pen injectors into smart solutions to support the monitoring of disease management regimen. It is expected to be launched by the end of Q2 2022. Such launch of technologically advanced products will boost the market during the forecast period.
Therefore, technological advancements, improving patient compliance, beneficial reimbursement policies, and the rise of biologics in the pharmaceutical market are the factors contributing to the market growth. However, injuries and infections caused by needles and the increasing use of alternative drug delivery systems are expected to hinder the market growth.
Injectable Drug Delivery Devices Industry Segmentation
As per the scope of the report, injectable devices are being used to administer drugs either intravenously, intramuscular, or subcutaneously and are considered injectable drug delivery devices. The injectable method is the most frequently used method for drugs that have poor oral bioavailability, targeted drug delivery systems, and delivery of drugs at the site of action. Injectable drug delivery is used in conditions such as hormonal imbalance, cystic fibrosis, autoimmune diseases, pain, Wilson’s disease, hemophilia, hepatitis C, and ribose-5-phosphate isomerase deficiency. The Injectable Drug Delivery Devices Market is segmented by Device Type (Conventional Drug Delivery Devices and Self-injectable Drug Delivery Devices), By Therapeutic Application (Cardiovascular Devices, Oncology, Diabetes, Autoimmune Disorders, Hepatitis, and Other Therapeutic Application), and Geography (North America, Europe, Asia – Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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| Diabetes | |
| Oncology | |
| Autoimmune Disorders | |
| Hepatitis | |
| Other Therapeutic Applications |
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Injectable Drug Delivery Devices Market Trends
This section covers the major market trends shaping the Injectable Drug Delivery Devices Market according to our research experts:
Prefilled Syringes Subsegment Within Advanced Drug Delivery Devices Segment is Anticipated to be Dominant Over the Forecast Period
A prefilled syringe is a type of parenteral drug administration device in which the parenteral drug in the required amount has been filled by the manufacturer. Prefilled syringes provide greater patient safety by reducing the potential for inadvertent needle sticks and exposure to toxic products that can occur while drawing medication from vials. Therefore, these syringes are the safest and standard recommended delivery device for most modern vaccines, due to which, the prefilled syringes segment is expected to grow significantly during the forecast period of the study.
Prefilled syringes offer ease of use to patients to self-administer various types of injectable drugs and make it easier to take the treatment outside hospitals and into the home setting. Eliminating dosing errors and ease of use are two of the greatest advantages of prefilled syringes. Consequently, the differential advantages provided by prefilled syringes over traditional syringes are leading to their increased adoption and contributing to the global market.
The growing demand for injectable drug delivery devices is leading to the launch of new devices, and as per business expansion initiatives, companies are doing collaborations, partnerships and mergers, and acquisitions which are further expected to increase the completion in the market and drive the studied market towards growth. For instance, in October 2021, NovaGuardSA Pro Safety System, a single-use accessory for prefilled ISO standard 0.5mL staked needle syringes, was launched in the Indian market by West Pharmaceutical Services, a global leader in innovative solutions for injectable medication and healthcare products.
Additionally, in February 2022, Owen Mumford Pharmaceutical Services reported that its UniSafe 1mL safety device for pre-filled syringes had been approved as a combination product in Asia. In Europe, regulatory approval has also been granted, and the product is now available on the market as a combination product with a drug for the treatment of rheumatoid arthritis.
Thus, due to the above-mentioned factors, the studied segment is expected to contribute to the studied market growth.
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The North America Region Dominates the Injectable Drug Delivery Devices Market
North America has been found to dominate the injectable drug delivery devices due to the increasing aging population and the rising number of chronic diseases that may influence the usage of injectables. The injectable drug delivery devices market is expected to grow in the United States owing to the factors such as the high prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases, and others, the presence of robust healthcare infrastructure, and the launch of new devices in the market during the forecast period of the study.
According to the American Cancer Society’s 2022 report, over 1.9 million new cancer are expected to be recorded in the United States in 2022. Also, as per the same source, the risk of having cancer rises dramatically as one gets older, and in the United States, 80% of cancer patients are 55 or older, with 57% being 65 or older. Thus, the growing geriatric population is expected to have a significant positive impact on the growth of the studied market. Further, according to the International Diabetes Federation’s report of December 2021, about 32.2 million people were living with diabetes in the United States in 2021, and this number is estimated to increase to 36.3 million by 2045, and this increase in the diabetes patient pool is expected to drive demand for injectables which will boost growth in the injectable drug delivery devices market in the United States.
With the growing demand for effective therapeutics for chronic diseases, the company activities such as product launches, mergers and acquisitions, partnerships, and strategic collaborations are expected to augment growth in the studied market in the country. For instance, in February 2022, the United States Food and Drug Administration (FDA) approved Takeda's TAKHZYRO (lanadelumab-flyo) injection single-dose prefilled syringe (PFS) to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years of age and older.
Additionally, in May 2022, Jabil Healthcare launched the Qfinity autoinjector platform, a simple, reusable, and modular solution for subcutaneous (SC) drug self-administration at a lower cost than the market alternatives supporting the emerging prioritization of sustainable drug delivery within the pharmaceutical industry.
Therefore, due to the aforementioned factors, the injectable drug delivery devices market is expected to grow in the United States during the forecast period of the study.
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Injectable Drug Delivery Devices Industry Overview
The studied market is moderately competitive. The companies present in the market are found focusing on product innovations, expansions, finding new markets, or innovating their core competency to expand their market shares. There are also innovations taking place in injectable drug delivery systems that are the trend in the global injectable drug delivery market. Major players in the market studied are Baxter International Inc., Becton Dickinson and Company, Gerresheimer AG, Teva Pharmaceutical Industries Ltd, Eli Lilly and Company, and others.
Injectable Drug Delivery Devices Market Leaders
Baxter International Inc.
Becton, Dickinson and Company
Eli Lilly and Company
Teva Pharmaceuticals Industries Limited
Gerresheimer AG
*Disclaimer: Major Players sorted in no particular order
Injectable Drug Delivery Devices Market News
- In February 2022, Takeda received United States Food and Drug Administration (FDA) approval for TAKHZYRO (lanadelumab-flyo) injection single-dose prefilled syringe (PFS) that is used to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients (12 years and older).
- In January 2022, Hikma Pharmaceuticals USA Inc., a subsidiary of Hikma Pharmaceuticals, launched Diazepam Injection, USP. The company has introduced a 5mg/mL dosage in a 2mL dose, and with this launch, Hikma has now released its second drug in the form of a prefilled syringe.
Injectable Drug Delivery Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 Benefits and Convenience in Self Injectors
4.2.3 Growth of the Biologics Market Leading to Increased Demand for Injectors
4.3 Market Restraints
4.3.1 Injuries and Infections Caused by Needles
4.3.2 Increasing Use of Alternative Delivery Methods
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Million)
5.1 By Devices Type
5.1.1 Conventional Drug Delivery Devices
5.1.2 Advanced Drug Delivery Devices
5.1.2.1 Prefilled Syringes
5.1.2.2 Injectable Pens
5.1.2.3 Auto Injectors
5.1.2.4 Needle-free Injectors
5.1.2.5 Other Device Types
5.2 By Therapeutic Application
5.2.1 Cardiovascular Disease
5.2.2 Diabetes
5.2.3 Oncology
5.2.4 Autoimmune Disorders
5.2.5 Hepatitis
5.2.6 Other Therapeutic Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Baxter International Inc.
6.1.2 Becton, Dickinson and Company
6.1.3 Eli Lilly and Company
6.1.4 Gerresheimer AG
6.1.5 Novo Nordisk A/S
6.1.6 Pfizer Inc.
6.1.7 Schott AG
6.1.8 Terumo Corporation
6.1.9 Teva Pharmaceutical Industries Ltd
6.1.10 West Pharmaceutical Services Inc.
6.1.11 Novartis AG
6.1.12 F Hoffmann-La Roche Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Injectable Drug Delivery Devices Market Research FAQs
What is the study period of this market?
The Injectable Drug Delivery Devices Market is studied from 2018 - 2028.
What is the growth rate of Injectable Drug Delivery Devices Market?
The Injectable Drug Delivery Devices Market is growing at a CAGR of 11.5% over the next 5 years.
Which region has highest growth rate in Injectable Drug Delivery Devices Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Injectable Drug Delivery Devices Market?
North America holds highest share in 2021.
Who are the key players in Injectable Drug Delivery Devices Market?
Baxter International Inc., Becton, Dickinson and Company, Eli Lilly and Company, Teva Pharmaceuticals Industries Limited, Gerresheimer AG are the major companies operating in Injectable Drug Delivery Devices Market.
Global Injectable Drug Delivery Devices Industry Report
Statistics for the 2023 Global Injectable Drug Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Injectable Drug Delivery Devices analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
