Injectable Drug Delivery Devices Market Size and share with Innovative Technologies, Key Players and their core competencies by 2023
Market Research Future (MRFR) in their latest report on the injectable drug delivery devices market claimed that the market could achieve such a feat. Injectable drug delivery devices are tools that helps in effective drug delivery into the body and creates an opportunity for the drug to work quickly.
Drug delivery refers to the technologies, systems, and the approaches used for the administration of drugs to patients. Injectable drug delivery is an approach through which the drug is administered by penetrating a needle or a similar device into the human skin. The injectable drug delivery devices can be narrowed down in terms of types, namely needle-free injectors, self-injectors, and auto-injectors.
The global Injectable Drug Delivery Devices market is said to witness a projected growth rate of 11.5% during the forecast period according to the study performed by the Market Research Future (MRFR) team.
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- Antares Pharma,
- Eisai Co., Ltd.,
- Dickinson and Company,
- Eli Lilly and Company,
- Pfizer Inc.,
- Hoffmann-La Roche AG,
- Mylan N.V.,
- Johnson & Johnson Services Inc.,
- Novo Nordisk,
- Novartis AG,
- Teva Pharmaceutical Industries Ltd.,
- Inovio Pharmaceuticals Inc.
October 2018, a developer and manufacturer of wearable drug delivery devices, Enable Injections raised a staggering $50 million in a Series B round that was led by Sanofi. Enable’s drug delivery platform, enFuse, can be connected to smartphones via Bluetooth.
January 2019, Tyndall National Institute inked a Research and Development collaboration deal with the West Pharmaceutical Services, Inc. Through this move, Tyndall aims to work on the future developments of the drug delivery systems for injectable medicines.
The global Injectable Drug Delivery Devices market is segmented in terms of usage pattern, therapeutic application, devices, distribution channel, site of delivery, and facility of use.
By Devices: It includes conventional and self-injection devices. The conventional injection segment holds a majority of the market share over self-injection devices. Additionally, the conventional injection segment is divided into utility, product, and material. Whereas, the self-injectable injection segment includes pen systems and autoinjectors and needle-free injectors.
By Therapeutic Application: The market includes hormonal disorders, autoimmune diseases, cancer, and others. The autoimmune diseases segment holds dominance over others globally and is expected to grow impressively in the future as well.
By Usage Pattern: The market divides into curative and immunization. The curative segment is expected to grow at a higher speed than the latter during the forecast period.
By Site of Delivery: The market includes subcutaneous, intramuscular, and intradermal. The intramuscular segment dominates this segmentation with the highest market share.
By Distribution Channel: The market includes online platforms and hospital & retail pharmacies. The hospital & retail pharmacies stand as the leader in this market segment while online platforms are expected to grow with the fastest CAGR of 11.4% during the assessment period.
By Facility of Use: The market segmentation includes home care settings, hospitals and clinics, and others.
The global injectable drug delivery devices market, based on region, has been segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The market in the Americas is leading the global injectable drug delivery devices market and is anticipated to reach the valuation of USD 17,401.8 Mn by the end of the assessment period at the CAGR of 11.3%. Rapid expansion of biotechnological industry, increased prevalence of chronic diseases such as diabetes and cancer and high healthcare expenditure in the well-developed healthcare sector are majorly propelling the expansion of the injectable drug delivery devices market in this region.
Europe commanded for the second largest market share in the year 2017 and is anticipated to reach the valuation of USD 13,074.3 Mn by the end of the assessment period at a CAGR of 11.2%. Increased funding for R&D and easy adoption of technologically advanced healthcare solutions are fueling the expansion of the injectable drug delivery devices market in the Europe region. The Asia Pacific region is anticipated to register the fastest growth at a CAGR of 11.4% owing to the rising demand for therapeutics in the evolving healthcare sector in the emerging economies of this region. Lack of awareness and less exposure to primary healthcare services in the underdeveloped countries are leading to the slow growth of injectable drug delivery devices market in the Middle East and Africa region.
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