The injectable drug delivery method is an important tool used by medical professionals to provide a drug dose to a patient directly through his body, thereby reducing the threat of overdose, and streamlining drug release. Such a system leverages a faster and more controlled drug release into the bloodstream.
WILMINGTON, Del., July 15, 2024 /PRNewswire/ -- The projected size of the global injectable drug delivery system market is likely to reach USD 1.9 trillion by 2034. This advancement of the industry is estimated to reach this value at a promising CAGR of 9.8% through the forecasted period, which lifted the valuation from the USD 689.5 billion mark, measured in 2023.
The spurring incidences of patients affected due to chronic diseases are likely to affect the size of the competitive space. With the rising prevalence of diseases, the demand for relevant drugs, medicines, and medical assistance is expected to proliferate in the forecast period.
The cases of patients infected due to several infectious diseases like malaria and influenza are increasing. To cater to the effective medication demand, medical professionals are investing more in the development of appropriate drugs and suitable drug delivery methods and systems.
Along with such infectious diseases, chronic illnesses like cancer, cardiovascular diseases, pulmonary disorders, and many more are expected to spread rapidly. This accelerated prevalence of diseases is expected to drive the demand for the appropriate drug delivery system. This demand is likely to drive the demand for the competitive space.
The consumer inclination is observed to have risen toward minimally invasive therapies and treatments. As a result, more attention is being given to the rising necessity of a relevant system, which elaborates the spurring demand for an injectable drug delivery system.
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Medical professionals are keen on increasing the user-friendliness of treatments to provide better comfort to patients. As a result, the demand for injectable drug delivery systems is expected to rise, creating several prospects for key players in the competitive space.
The rising technological advancements are another driving force, proliferating the progress of the ecosystem. Key players are integrating cutting-edge tools, including AI, IoT, cloud computing, and many more, which elevate the dosage, and timing of drug delivery, and more.
Along with streamlining drug dosage, drug formulation can also be augmented. This helps medical professionals provide personalized treatments and therapies to patients, depending on the individual's requirements. With the use of such systems, the precision of the dosage provided increases. As a result, this factor drives the global injectable drug delivery market size.
Key Findings from the Market Report
- The competitive landscape of the global injectable drug delivery market is segmented into different categories based on key parameters. Based on the product type, conventional injection devices will gain more attention due to the growing number of surgeries across the world.
- Based on therapeutic applications, the prevalence of chronic diseases will drive the demand for cancer therapies. As a result, the category is likely to gain more traction in the competitive space.
- The usage pattern might vary, depending on an individual's response to different diseases. As vaccination has increased worldwide, the demand for immunization might also surge, driving the category.
- Due to the better availability of medical assistance, hospitals, and clinics are expected to gain more attention in the competitive space.
Injectable Drug Delivery Market Report Scope:
Report Coverage | Details |
Forecast Period? | 2024-2034 |
Base Year? | 2020-2022 |
Size in 2023 | US$ 689.5 Bn |
Forecast (Value) in 2034 | US$ 1.9 Trn |
Growth Rate (CAGR) | 9.8 % |
No. of Pages | 263 Pages |
Segments covered | By Product Type, By Therapeutic Application, By Usage Pattern, By End-user, By Region |
Regional Profile
- Owing to the robustness of the healthcare infrastructure, North America might lead the global injectable drug delivery market.
- The growing demand for minimally invasive treatments in Asia-Pacific might fuel the demand for such treatments, creating prospects for key players in the realm.
- Technological advancements might spur research and development in Europe. This is a key contributing factor to the development of the ecosystem.
Competitive Landscape
Owing to strategies like product innovation and differentiation, key players are likely to expand in the industry.
- Becton, Dickinson, and Company is a key player that offers products like PosiFlush pre-filled saline syringes, Power Midline catheters, and many more.
- Pfizer, Inc. is another important marketer, offering ACCURETIC, ADENOSINE, and AMINOCAPROIC ACID.
- Eli Lilly and Company offers diversified products, including Dulaglutide, Insulin Lispro, and Insulin Glargine I.P solution for injection.
Key Developments in the Injectable Drug Delivery Market
- In September 2023, Pfizer, Inc. introduced ABRYSVO for RSV, aiming to diversify its product portfolio, which was recommended by CDC Advisory Committee.
- In June 2024, Becton, Dickinson, and Company acquired Edwards Lifesciences' Critical Care Product Group. The transaction cost about USD 4.2 billion.
Key Players
- Becton, Dickinson, and Company (BD)
- Pfizer, Inc.
- Eli Lilly and Company
- Baxter International, Inc.
- Terumo Corporation
- B. Braun Melsungen AG
- Ypsomed AG
- Gerresheimer AG
- SCHOTT Pharma
- Hi-Tech Syringes
Market Segmentation
Product Type
- Devices
- Conventional Injection Devices
- Self-injection Devices
- Others
Formulations
- Conventional Drug Delivery Formulations
- Novel Drug Delivery Formulations
- Long Lasting Injection Formulations
Therapeutic Application
- Autoimmune Disease
- Hormone Disease
- Orphan Disease
- Cancer
- Cardiovascular Disease
- Infectious Disease
- Others
Usage Pattern
- Curative Care
- Immunization
- Others
End User
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Home Care Settings
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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