According to the latest report published by Future Market Insights, titled ‘Global Injectable Drug Delivery Market: Global Industry Analysis 2013–2017 and Opportunity Assessment, 2018–2028’, the Global injectable drug delivery market is expected to expand at a compound annual growth rate (CAGR) of 10.9% over the 2018–2028 forecast period.
Future Market Insights (FMI) estimates that the global market for injectable drug delivery was valued at $10,400m in 2017 and is expected to expand at CAGR of 10.9% from 2018 to 2028, to reach $32,136.9m by 2028 end.
Based on product type, the needle-free injectable drug delivery segment dominated the global injectable drug delivery market in 2017. Moreover, the subtype, prefilled of needle-free injectors segment is expected to have a dominant share of the needle-free type of injectable drug delivery market due to its ease of application. North America is expected to maintain its dominance in the global injectable drug delivery market due to the presence of a large number of manufacturers of injectable drug delivery devices, mostly operating from the US.
Increase in prevalence of chronic diseases such as diabetes, cancer and rheumatoid arthritis along with other factors such as the need for patient-controlled drug release and increased risk of needlestick injuries are the prominent factors expected to drive the growth of the injectable drug delivery market.
Technological advancements have resulted in better product offerings in the injectable drug delivery market. However, some factors such as strict regulatory framework and premium pricing of products are expected to hinder the growth of the injectable drug delivery market. The key trend of the injectable drug delivery market is the increasing demand for point-of-care devices. Injectable drug delivery devices are easy to self-administer and do not require a healthcare professional for administration, which as a result skips the need for hospital visits and relatively lowers the healthcare spending for an individual.
The global injectable drug delivery market has been segmented on the basis of product type, usage, end users and regions. The disposable injectable drug delivery segment is expected to be the most attractive usage segment. Among the three end users, the hospital pharmacies are expected to be the dominant segment due to benefits such as favourable reimbursement policies in most of the countries across the globe.
In terms of value, the global injectable drug delivery market is expected to expand at 10.9% CAGR over the forecast period. With nearly 32% market share, North America was a dominant regional market for injectable drug delivery in 2017, due to the growing number of manufacturers in the region and early adoption of new technologies. Western Europe is expected to be the second large market in injectable drug delivery, with Germany, the UK and France occupying major shares. Asia-Pacific excluding Japan (APEJ) is expected to be the third largest market for injectable drug delivery, due to the requirement of low capital for manufacturing injectable drug delivery.
Key research findings
The key research findings include:
Examples of some of the key players identified in the global injectable drug delivery market include Amgen, Medtronic, West Pharmaceutical Services, Yepsomed, Becton, and Dickinson and Company, Antares Pharma, Mylan, SHL Group, Endo International, Crossject, and Consort Medical (Bespak).