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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 (2022 to 2027)

Published: January, 2022
ID: 2015
Pages: 175
Formats: report pdf report excel report power bi report ppt

Injectable Drug Delivery Market Size (2022 to 2027)

The size of the global injectable drug delivery market is estimated to be USD 5000.2 million in 2022. This value is estimated to be growing at a CAGR of 11.5% between 2022 to 2027 and worth USD 8617.1 million by 2027.

Injectable Drug Delivery (IDD) is a way to get drugs or medicine into your bloodstream directly. This method is only done with a fluid form of drugs, and it is done with a hollow hypodermic needle and a syringe. The injectable drug delivery was mostly used by patients who need to take pills daily, like diabetic patients. These are most helpful for comatose and unconscious patients. This medication method is accepted because of the fast onset reactions with high adequacy. Cancer and Diabetics patients are the higher share providers in this market. 

MARKET DRIVERS:

Y-O-Y growth in biologics is majorly expected to accelerate the growth of the global injectable drug delivery market, along with the growth in demand for insulin, human growth hormone, vaccines, and most modern medicines for the treatment of cancer and also other chronic diseases. The World Health Organization (WHO) stated that by the end of 2020, chronic diseases would increase by 57%, due to which the medical industries will concentrate on advanced drug delivery technology.

The global injectable drug delivery market is predicted to register significant growth during the forecast period. The increase in diabetic patients over the years is one of the primary drivers of market growth. The year-over-year growth in biologics is expected to boost the growth rate of the global injectable drug delivery market. The technology innovations such as dual injectables are fueling the market. Moreover, the increase in demand for insulin, human growth hormone, vaccines, and most modern medicines for cancer treatment and few more chronic diseases are the primary reason for market growth. The increase in demand for self-injection devices was playing 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 in few years. 

The drug delivery systems Nanoparticles made of certain substances may react with the cellular membranes leads to morphological changes. The lack of awareness on injectable drug delivery devices in developing countries is the major challenge.

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 with 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 were given priority to the COVID 19 patients where 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 the activities are resumed by following preventive measures issued by World Health Organization (WHO). Since coronavirus is not over yet, it must take preventive measures in the hospitals to lower the risk for the patients suffering from chronic diseases. The market shares are expected to have significant growth in the forecast period. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

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, Middle East, and Africa

Companies Analysed

Antares Pharmaceuticals Ltd, Baxter International, Becton Dickinson Company, Elcam Medical, Eli Lily and Company, Unilife Corporation, and West Pharmaceutical Inc.

 

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 were dominating the global injectional drug delivery market. The growing prevalence of infectious diseases and increase in hospitalization fueled the market growth. The rise in immunization programs all around the world boosted the market. For instance, in 2019, the Indian government had initiated a vaccination drive to fight against eight diseases. The Self-Injection Devices were rapidly increasing during the forecast period. The innovations in self-injectable devices are propelling the market growth.

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.  The increase in R&D investments is fueling the market. Conventional drug delivery was growing prominently during the forecast period.

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 in the outlook period by the therapeutics application because of the rise in demand for 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 diabetics, cancer, and other autoimmune disorders. Additionally, major numerous companies in nations like the USA and Canada support the expansion of the regional market.  The major share contributors of North America were the United States and Canada. The US was estimated to register USD 624.5 billion by 2021 with a CAGR of 11.5% during the forecast period. The increase in chronic diseases in North America 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 developing 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 European Injectable Drug Delivery Market had registered USD 1123 million in 2020. It is expected to grow at a CAGR of 11.90%, to reach USD 1970 million by 2025. The factors such as technological advances for devices are the major factors of European market growth. The increasing awareness of injectable drug delivery devices is fuelling the 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. In 2020, the Asia Pacific injectable drug delivery registered USD 10437.4 million, and it is estimated to be growing at a CAGR of 12.15% and worth 18794.1 million by 2025. China, India, and Japan are the major contributors to the Asia Pacific fast growth. The increase in diseases and diabetes are the significant factors of the market growth. The manufacturing cost and the easy government permissions are attracting investors, which helps the market growth. Moreover, consistency to novel advancements in the Asia Pacific is fuelling the 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 2016, a partnership had been made between Gerresheimer and Taisei Medical Co. Ltd. for the extension of ClearJect syringes and providing supportiveness 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 for the treatment of diseases.
  • In 2014, a collaboration was made by Terumo Corporation with Ypsomed Group as it is a company of integration with refillable polymer syringe name 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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