Global Injectable Drug Delivery Market - 2023-2030
The Global Injectable Drug Delivery Market reached USD 607.3 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 1,364.1 billion by 2030. The injectable drug delivery market is expected to exhibit a cagr of 10.9% during the forecast period 2023-2030.
Continuous innovations are subjected to improve patients’ experience during injectable drug delivery with the help of certain reminders, the self-use of devices, connectivity of smartphones, and others. Moreover, the current self-injection devices, including pen and needle-free injectors, have made injectable drug delivery comparatively easier.
An injectable is any medication dispensed into the body via injections. The increasing number of injectable product development and approvals, among other factors, are driving the growth of the Global Injectable Drug Delivery Market during the forecast period.
Market DynamicsThe Increasing Number of Market Developments is Driving the Global Injectable Drug Delivery Market Growth in the Forecast Period
The increasing market developments, such as product introductions, product approvals, acquisitions, collaborations, mergers, expansion, and investments, among others, are driving the growth of the global injectable drug delivery market during the forecast period.
For instance, in February 2022, Takeda, a Japanese multinational pharmaceutical corporation, acquired US FDA authorization for its TAKHZYRO (lanadelumab-flyo) injection single-dose prefilled syringe (PFS) utilized to avert episodes of hereditary angioedema (HAE) in adult and pediatric patients (12 years and above).
The Growing Geriatric Population is Providing the Global Injectable Drug Delivery Market with Prospective Growth Opportunities
Parenteral drug delivery is vastly utilized for geriatrics to attain and sustain a therapeutic concentration of medications with a narrow therapeutic index or poor oral bioavailability. Thus, the growing geriatric population presents the global market with future growth opportunities in the upcoming years.
For instance, according to the World Population Prospects 2022, from the UN, the number of individuals aged 80 or above is anticipated to grow triple fold, from 157 million in 2022 to 459 million by 2050.
COVID-19 Impact AnalysisThe COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Russia-Ukraine War Impact Analysis
The Russia-Ukraine war has had a negative influence on the market since the Russian invasion of Ukraine with 292 attacks has damaged or destroyed 218 hospitals and clinics, over 65 attacks on ambulances, and 181 attacks on other health infrastructure, like blood centers, dental clinics, and pharmacies.
Global Recession Impact Analysis
All over the globe, climbing inflation is considerably impacting the Global Injectable Drug Delivery Market. Most pharmaceutical corporations are observing elevated prices for raw materials and are anticipating a reduction in profit margins.
The healthcare market is significantly controlled when it arrives to the pricing of generic and prescription medicines. Nevertheless, pharma corporations are encountering growing stress on drug pricing. The primary cause for this growing pricing strain is the elevated rate of inflation negatively impacting global market growth.
Artificial Intelligence Impact Analysis
Artificial intelligence is having a positive impact on the global injectable drug delivery market owing to increasing product developments. For instance, a group of investigators has harnessed Google`s AI venture DeepMind to design a bacterial injection system that can inject proteins, such as cancer-killing medicines and gene treatments, directly into human cells.
Segment AnalysisThe Global Injectable Drug Delivery Market is segmented based on product type, packaging, therapeutic application, route of administration, distribution channel, and region.
The Hormonal Therapeutic Application Segment is Estimated to Hold highest Share of the Global Market.
Owing to the increasing product approvals for hormonal disorders and growing cases of hormonal disorders the hormonal therapeutic application segment is estimated to hold 30.9% of the global injectable drug delivery market.
For instance, in July 2022, European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) gave a favorable view and suggested consent for the usage of Mounjaro (tirzepatide) auto-injector pen for type 2 diabetes. Moreover, the 2022 National Diabetes Statistics Report by CDC estimated that over 130 million adults with diabetes or prediabetes in the United States.
Geographical AnalysisEurope is Estimated to Hold the Second-Largest Share of the Global Injectable Drug Delivery Market During the Forecast Period
Owing to the increasing product approvals in Europe, the region is estimated to be around 29.6% of the global injectable drug delivery market by 2030.
For instance, in February 2021, Xeris Pharmaceuticals acquired authorization from the European Commission (EC) for its Ogluo (glucagon) pre-filled pen indicated for treating extreme hypoglycemia in children, adults, and adolescents aged 2 years and over with diabetes mellitus.
Competitive LandscapeThe major global players in the market include Becton Dickinson & Company, Baxter International, Inc., Gerresheimer AG, Pfizer, Inc., Schott AG, Eli Lilly and Company, Sandoz, Terumo Corporation, Teva Pharmaceutical Industries Ltd, Corning Incorporated, among others.
Why Purchase the Report?• To visualize the Global Injectable Drug Delivery Market segmentation based on product type, packaging, therapeutic application, route of administration, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous injectable drug delivery market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The Global Injectable Drug Delivery Market Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.
Target Audience 2023• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies