Global Injectable Drug Delivery Market Overview:
Global Injected Drug Delivery Market is projected to experience growth at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. This marks an increase from the previous forecast period, where the market saw growth at a CAGR of 6.4% from 2018 to 2021.
The important function that drug delivery plays in healthcare services is highlighted in the research report on the injectable drug delivery market. Due to the notable increase in the prevalence of diseases including diabetes, heart problems, cancer, and brain tumors, people are becoming more aware of their health. As a result, there’s a rising tendency to embrace practices that support illness management. The injectable drug delivery market is changing as a result of the development of sophisticated drug delivery systems with features including alarms, recycled materials, different drug-carrying capabilities, and faster effectiveness.
Additionally, there has been a noticeable increase in the overall sales of injectable drug delivery systems, which can be attributed to the surge in patient demand for reusable and ready-to-use (pre-filled) systems. This pattern emphasizes how important efficiency and convenience are.
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Injectable Drug Delivery Market Growth Factors:
The rising prevalence of chronic ailments and life-threatening diseases underscores the necessity for new and effective drugs across various therapeutic areas. Manufacturers and pharmaceutical companies are increasingly driven to develop efficient devices to administer injectable drugs, given the convenience and accessibility they offer, particularly in at-home settings.
One notable example is the growing usage of injectable contraceptives in recent years. This trend can be attributed to their high efficacy and convenience. Unlike daily oral contraceptives, injectable typically require administration only once a month or once every three months. Consequently, sales of injectable drug delivery devices are experiencing notable growth as a result of this demand.
Because of its straightforward osmotic drive and affordable bolus injection technology, a wider variety of medications can be administered using injectable wearable devices. The novel product facilitates at-home drug distribution and satisfies the growing need for large-volume injectors to decrease injection frequency.
Market Segmentations:
Based on product type:
- Self-Injectors
- Needle-free Injectors
- Auto-Injectors
Based on usage:
- Disposable Injectors
- Reusable Injectors
Based on distribution channels:
- Hospital Pharmacies
- Retail Pharmacies
- E-commerce
Market Regional Analysis:
The market growth is expected to be driven primarily by the United States during the forecast period. Technological advancements in the food sector within the region are anticipated to further fuel market growth. In Europe, a healthy growth rate is forecasted, while the Asia Pacific region is also expected to experience notable growth in the market.
Top Leading Companies Involved in this Market are:
- Amgen Inc.
- Antares Pharma Inc.
- Becton
- Dickinson and Company
- Consort Medical Plc (Bespeak)
- Cross jet
- Medtronic plc
- Mylan N.V.
- SHL Group
- West Pharmaceutical Services
- and Psalmed
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