Global Injectable Drug Delivery Devices Market Highlights 2022-2030
The global injectable drug delivery devices market is expected to witness growth by a CAGR of ~11% during the forecast period, i.e., 2022-2030. The growth of the global injectable drug delivery device market can be attributed to the increasing implementation of biologics, growing prevalence of chronic disorders, escalating incidence of needlestick injuries, and other benefits of injections. Factors such as safety syringes, prefilled syringes, auto-injectors, and others, have increased the demand for injectable drug delivery devices. Moreover, increasing prevalence of chronic diseases, such as, cardiovascular disease, cancer, auto-immune disease and diabetes, is expected to drive the demand for such devices. According to the report by the WHO, 422 million people have diabetes on a global level, and 1.6 million deaths are directly attributed to diabetes each year. Moreover, Cardiovascular diseases (CVD) are currently the leading cause of deaths and disability worldwide causing around 17.9 million deaths globally. The need for self-injections in homecare settings without the requirement of any professional help for the treatment of these diseases is estimated to act as a major growth driver for the market.
Get more information on this report: Download Sample PDF
The global injectable drug delivery devices market is segmented on the basis of product into conventional injection devices, and advanced injection devices, out of which, the advanced injection devices segment is expected to grab the largest market share in the forecast period, on the back of its advantages, such as, convenient application and low healthcare cost.
Based on end-user, the hospital & clinics segment is expected to gain largest share in terms of revenue, on the back of increasing patient influx and longer stay of the patients at the hospitals suffering from chronic diseases.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Injectable Drug Delivery Devices Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia-Pacific region is estimated to witness remarkable CAGR over the forecast period, on the back of increasing incidence of chronic disorders in the APAC countries backed by the increasing aging population. Additionally, the increasing healthcare expenditure and growing development of advanced injectable devices for drug delivery in the region are expected to drive the market growth.
Furthermore, in 2030, the market in the North America region is expected to hold the most significant share in the global injectable drug delivery market, on the back of a higher rate of implementation of innovative injectable drug delivery devices for the treatment of various diseases, such as, diabetes mellitus, autoimmune disorders, cancers, and others. Additionally, the rising prevalence of cancer cases and diabetes in the United States is expected to promote the growth of the North America injectable drug delivery market.
Get more information on this report: Download Sample PDF
The global injectable drug delivery devices market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global injectable drug delivery devices market includes the following segments:
By Product
- Conventional Injection Devices
- Advanced Injection Devices
- Injectable Pens
- Auto Injectors
- Prefilled Syringe
- Needle-free Injectors
- Others
By Therapeutic Area
- Cardiovascular Disease
- Diabetes
- Oncology
- Autoimmune Disorders
- Others
By Route of Delivery
- Intramuscular
- Subcutaneous
- Intra Dermal
By End-User
- Hospitals & Clinics
- Homecare Settings
- Others
Growth Drivers
- Emergence of Self-Injectors
- Increasing Incidence of Chronic Diseases
Challenges
- Injuries & Infections Caused by Needles
- Increasing Use of Alternative Delivery Methods
Top Featured Companies Dominating the Market
- Baxter International Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Eli Lilly and Company
- West Pharmaceutical Services Inc.
- Pfizer Inc.
- Schott AG
- Becton, Dickinson and Company
- Teva Pharmaceutical Industries Ltd
- Gerresheimer AG
- Novo Nordisk A/S
- Terumo Corporation
