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Global Injectable Drug Delivery Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – By Device Type, Formulation, Therapeutic Use, End User & Region - Industry Forecast (2023 to 2028)

Published: March, 2023
ID: 2015
Pages: 175
Formats: report pdf report excel report power bi report ppt

Injectable Drug Delivery Market Size (2023 to 2028)

The size of the global injectable drug delivery market is estimated to be worth USD 5575 million in 2023 and this value is estimated to grow at a CAGR of 11.5% between 2023 to 2028 and be worth USD 9608 million by 2028.

MARKET DRIVERS:

The growing demand for biologics majorly promotes the growth of the global injectable drug delivery market. Due to the emphasis on research and development, there is a growing number of pharmaceutical companies that are manufacturing biologics for the treatment of various illnesses. These biologics mostly include antibodies, therapeutic proteins and vaccines fuelling the demand for injectable drug delivery systems. Most of these biologics are large in molecular weight and size and are administered through infusion and injectables because of their sensitivity to digestive enzymes in the intestine.

The growth in demand for insulin, human growth hormone, vaccines and most modern medicines for the treatment of cancer and other chronic diseases contributes to the global market growth. According to the WHO reports, chronic diseases kill almost 41 million patients each year. Out of these 41 million people, 17 million die before the age of 70. These disorders are difficult to treat and require lifelong therapy and medications. These medications are administered through injectables due to their precise dosing, controlled release and patient compliance.

The growing number of patients that go for self-administration of medications without the need for a nurse or doctor, especially for chronic diseases that are lifelong. Injectable drug delivery systems like EpiPen, inhalers, and wearable devices are therefore high in demand, this demand is driving the growth of the injectable drug delivery market. Also, there is a growing population of geriatric people, leading to an increase in the prevalence of age-related disorders that require regular medication through an injectable drug delivery system.  Since injectables provide accurate dosing and ease of administration, owing to this, the government and regulatory authorities are emphasizing the safety, convenience, and efficacy of drug delivery injectables, hence encouraging pharmaceutical companies to develop technologies for more advanced injectable devices, making the life of patients easy and safe.

The growing patient population of diabetes further drives the growth of the injectable drug delivery market. The technology innovations such as dual injectables fuel the market growth. The increase in demand for self-injection devices played a significant role. The foremost opportunity would be the new technological innovation by the researchers. Moreover, the increase in the aging population all over the world will help the market growth. Plastics in the injectable drug delivery market are significant opportunities for the market's growth.

MARKET RESTRAINTS:

Product recalls are the major restraints for the injectable drug delivery market. The market needle stick injuries and infections are hindering the market. Some drug deliveries will not mix into the blood thoroughly, leading to some other health issues. The device's high cost and the lack of reimbursement policies will restrain the market for a few years. The development and manufacturing of injectables require high costs and investment. Production of these injectables needs advanced and sophisticated technologies that need regular maintenance, leading to high operational costs and often leading to barriers in research and development, manufacturing, quality control and compliance hampering the market growth, especially for small-scale companies. The drug delivery systems Nanoparticles made of certain substances may react with the cellular membranes leading to morphological changes. The lack of awareness of injectable drug delivery devices in developing countries is the major challenge.

Injectables are often subjected to stringent regulatory scrutiny to ensure their safety and efficacy. Obtaining regulatory approval and complying with the guidelines for different regions makes it a costly and time-consuming affair, this complex and stringent compliance towards injectables creates a challenge. Potentially slowing down the market for injectable drug delivery market. Some patients, especially elderly patients, have aversions and fear towards the use of injectables. The need for regular injections and the discomfort can impact the administration of the drug, patient acceptance, and adherence to the injectable drug delivery systems. Also, the use of injectables is causing needle stick injuries, leading to the rise of bloodborne pathogens. Concerns regarding the disposal of needles and injuries are leading to the restriction of the use of injectables as a drug delivery system.

Impact of COVID-19 on the global injectable drug delivery market:

COVID-19 is a deadly disease that ruined many lives in distinct ways. All the sectors have faced difficulties sustaining in the market during this time. With the surging cases of the COVDI 19 in the first half of 2020, all the hospitals and clinics prioritized the COVID-19 patients, and all the other treatment procedures were postponed or canceled. The injectable drug delivery market faced certain challenges during the lockdown period. However, with the decreasing incidences of the coronavirus globally, all activities are resumed by following preventive measures issued by World Health Organization (WHO). Since the coronavirus is not over yet, it must take preventive measures in hospitals to lower the risk for patients suffering from chronic diseases.

The outbreak of Covid-19 had a positive effect on the injectable drug delivery market, with an increasing number of patients, the healthcare system was overburdened, and a continuous supply of drugs and medications was required in the form of injectables and syringes. Owing to this, the capacity of the production was increased to meet the demand. The development and mass vaccination drive against Covid-19 significantly increased the demand for injectable vaccines. This surge in demand increased the market for injectable drug delivery systems.

The COVID-19 pandemic also gave rise to telemedicine and home care consultation, which reduced the number of patients visiting clinics and hospitals, consequently affecting the demand and utilization of injectables. It also disrupted the logistics and supply chain due to the lockdown, travel allowances, and increased demand for healthcare leading to a shortage of injectables, affecting the demand and supply. However, due to the increase in research and development for Covid-19 vaccines and their sales, the injectables drug delivery market was affected positively and showed a momentous growth.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Analysed

By Device Type, Formulation, Therapeutic Use, End User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

 

This research report on the global injectable drug delivery market has been segmented and sub-segmented based on the device type, formulation, therapeutic use, end-user, and region.

Injectable Drug Delivery Market - By Device Type:

  • Self-Injection Devices
  • Conventional Devices

Based on device type, the conventional devices segment is expected to showcase a promising CAGR during the forecast period owing to the growing prevalence of infectious diseases and increased hospitalization. The rise in immunization programs all around the world. For instance, in 2019, the Indian government initiated a vaccination drive to fight against eight diseases.

The self-injection devices segment is anticipated to account for a considerable share of the worldwide market during the forecast period owing to the rapid adoption of self-Injection devices and technological innovations in self-injectable devices.

Injectable Drug Delivery Market - By Formulation:

  • Conventional Drug Delivery
  • Novel Drug Delivery

Based on formulation, the novel drug delivery segment is forecasted to dominate the global injectable drug delivery market during the forecast period owing to the growing R&D investments. Moreover, the increasing investment in R&D in pharmaceutical and biotech industries for formulating novel system that carries drug to the target organ efficiently drives the growth of the novel drug delivery segment.

The conventional drug delivery segment is estimated to register a healthy CAGR during the forecast period due to fluctuations in plasma level, poor bioavailability and compromised effectiveness.

Injectable Drug Delivery Market - By Therapeutic Use:

  • Autoimmune Disorders
  • Hormonal Disorders
  • Oncology

Based on the therapeutic use, the hormonal disorders segment is predicted to record the highest share during the forecast period owing to the rise in demand for the treatment of such diseases. 

Injectable Drug Delivery Market - By End User:

  • Hospitals
  • Homecare Settings
  • Research Institutes
  • Clinical Laboratories

Based on the end-user, the highest share is expected to be contributed by the hospitals and clinics segment with high dominancy during the foreseen period due to the high prevalence of chronic diseases and advanced technologies development. Moreover, technological advancements are boosting the market. The research institutes were estimated to register a high market share in the coming years.

Injectable Drug Delivery Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the global injectable drug delivery market was dominated by North America, with an overall market share of over 35% globally. The domination of North America in the global market is majorly driven by the high rise of innovative injectable medical products among patients suffering from chronic diseases like diabetes, cancer, and other autoimmune disorders. Additionally, major numerous companies in nations like the USA and Canada support the expansion of the North American injectable drug delivery market.  The major share contributors of North America were the United States and Canada. The increase in chronic diseases in North America is propelling the market. Moreover, the rise in demand for self-injection devices is fueling the market. The increasing aging population was helping the market growth. Moreover, according to The Economist, more than 900 biologics were developed to treat approximately 100 diseases. 

Europe and Asia-Pacific followed North America. The European Injectable Drug Delivery Market is expected to have a higher CAGR during the forecast period. The factors such as technological advances in devices are the major factors of the European injectable drug delivery market growth. The increasing awareness of injectable drug delivery devices is fuelling the market. The growing awareness and rapid adoption of advanced drug injectables, increasing use of biologics, an increasing number of individuals suffering from chronic illnesses, and high expenditure on healthcare, research, and development further fuel the growth rate of the European market.

The Asia Pacific is predicted to grow rapidly in the coming few years because of the rising prevalence of chronic diseases with the need for medical bases and the rise of awareness among the public about the delivery of drug delivery systems. The Asia Pacific is predicted to grow rapidly in the coming few years. The growing advances in technology, increased use of biosimilars and generic injectable drugs, increasing population and illnesses and growing pharmaceutical companies propel the growth of the injectable drug delivery market in the Asia-Pacific region. China, India, and Japan are the major contributors to the Asia Pacific's fast growth. The increase in diseases and diabetes are the significant factors of the market growth. The manufacturing cost and the easy government permissions attract investors, which helps the market growth. Moreover, consistency to novel advancements in the Asia Pacific is fuelling the market. 

The Latin American injectable drug delivery market is estimated to grow at a steady CAGR during the forecast period owing to the growing number of improvements in the healthcare infrastructure, increasing population, and government awareness for immunization and vaccination.

Middle East Africa is expected to be growing at a stable growth rate in the coming years due to the prevalence of chronic diseases such as AIDS, Cancer, and arthritis. Healthcare awareness programs through the government increased the immunization rate and decreased the mortality rate. Also, the increasing geriatric population with chronic ailments contributes to the growth of the MEA injectable drug delivery market.

KEY MARKET PLAYERS:

Prominent companies dominating the global injectable drug delivery market profiled in this report are Alkermes Inc., Bend Research, BIND Biosciences, Inc., Endocyte, Genentech Inc., MicroCHIPS, Inc., Pearl Therapeutics Inc., Polymer Factory, Presage Bioscience, QLT Inc. and UCB Group.

The global injectable drug delivery market has consolidated competition due to the robust product portfolio and solid distribution network across the globe.

RECENT MARKET HAPPENINGS:

  • In August 2022, A group of scientists at the UNC School of Medicine and UNC Institute for Global Health, Infectious Disease, and the International Center for the Advancement of Translational Science developed a long-lasting injectable for Tuberculosis. It has a formulation of a drug called rifabutin, which is known for its anti-tuberculosis activity. This long-lasting injectable prevents the latent reactivation of Tuberculosis and provides an efficient way to improve patient adherence to medications to avoid treatment failure and drug resistance.
  • In May 2022, Portal Instruments, an MIT spinoff, brought a needle-free injection that delivers medication with high pressure, as thin as a strand of hair, causing no pain. It also connects with an app and keeps track on the doses taken by the patient.
  • In 2016, a partnership was made between Gerresheimer and Taisei Medical Co. Ltd. for the extension of ClearJect syringes and providing support to customers. This further helps to expand the product portfolio and the customer base in the syringe market.
  • In 2015, a collaboration was made by Eli Lilly and Company with Sandford-Burnham Medical Research Institute to develop immunology therapies by focusing on Sjogren's syndrome, lupus, other autoimmune disorders, and inflammatory bowel diseases. This further helps to combine the expertise of both organizations to treat diseases.
  • In 2014, a collaboration was made by Terumo Corporation with Ypsomed Group as it is a company of integrated with refillable polymer syringe named as PLAJEX with YpsoMate. This further helped to strengthen the portfolio of products by offering syringes in the injectable drug delivery market.

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FAQ's

What is the current size of the injectable drug delivery market?

The global injectable drug delivery market was valued at USD 5000.2 million in 2022.

What are the key drivers of the injectable drug delivery market?

The growing prevalence of chronic diseases, technological advancements in drug delivery devices, and the rising demand for self-administration of drugs majorly drive the growth of the injectable drug delivery market.

Who are the major players in the injectable drug delivery market?

Becton, Dickinson and Company, Gerresheimer AG, Schott AG, and West Pharmaceutical Services, Inc. are some of the key players in the injectable drug delivery market.

Which region is expected to dominate the injectable drug delivery market in the coming years?

North America is expected to dominate the injectable drug delivery market in the coming years due to the high prevalence of chronic diseases and the strong presence of major market players in the region.

What are the challenges faced by the injectable drug delivery market?

The challenges faced by the injectable drug delivery market include the high cost of devices, potential risk of infections, and the need for trained healthcare professionals for administration.

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