Injectable drug delivery is the preferred method for administering medications with low oral bioavailability, targeted drug delivery systems, and precise site-specific action. It is extensively utilized in various medical conditions including cystic fibrosis, hemophilia, autoimmune diseases, pain management, hormonal imbalances, Wilson's disease, hepatitis C, and ribose-5-phosphate isomerase deficiency. Injectable drug delivery devices rank as the second most commonly utilized technology, following oral drug administration.
According to Data Bridge Market Research, the Injectable Drug Delivery Devices Market accounted for USD 52,164.9 million in 2022, and is expected to reach USD 1,96,080.51 million by 2030. The market is expected to grow with a CAGR of 18% in the forecast period of 2023 to 2030.
“Increasing prevalence of diabetes”
As a consequence of the rising prevalence of chronic diseases, there has been a significant increase in the utilization of drug-delivery devices, particularly disposable syringes. For example, according to the International Diabetes Federation's Diabetes Atlas 2021, the projected age-adjusted comparative prevalence of diabetes in China is 10.6% for 2021, 11.8% for 2030, and 12.5% for 2045. This consistent rise in diabetes cases in China has resulted in a growing demand for prefilled syringes and auto injectors in the anticipated future period, which expands the market.
What restraints the growth of the injectable drug delivery devices market?
“Increased expenditure of treatment”
The growth of the market is hindered by the higher expenses related to injectable drug delivery. The manufacturing, supply, and use of injectable drug delivery devices come with increased costs, which can be unaffordable for developing and underdeveloped countries. As a result, many patients in these regions do not receive adequate treatment, leading to under-treatment. This situation acts as a barrier to the expansion of the market.
Segmentation: Global Injectable Drug Delivery Devices Market
The injectable drug delivery devices market is segmented on the basis of product type, application, and usage pattern, mode of administration, end user and distribution channel.
- On the basis of product type, the injectable drug delivery devices market is segmented into formulations, devices.
- On the basis of usage pattern, the injectable drug delivery devices market is segmented into curative care, immunization, and other usage pattern
- On the basis of mode of administration, the injectable drug delivery devices market is segmented into skin, circulatory/muskoskeletal, organs, and central nervous system.
- On the basis of application, the injectable drug delivery devices market is segmented into hormonal disorders, oncology, autoimmune disorders, orphan diseases, and others.
- On the basis of end users, the injectable drug delivery devices market is segmented into hospitals, homecare, specialty clinics, and others.
- On the basis of distribution channel, the injectable drug delivery devices market is segmented into hospital pharmacy, online pharmacy, and retail pharmacy.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/china-injectable-drug-delivery-devices-market
Recent Developments in Injectable Drug Delivery Devices Market
- In 2022, EyePoint Pharmaceuticals, Inc. and OcuMension Therapeutics received approval from China’s Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) for YUTIQ (fluocinolone acetonide intravitreal implant) 0.18 mg for the treatment of chronic non-infectious uveitis
- In 2020, Sanofi and Regeneron Pharmaceuticals received approval from China's National Medical Products Administration (NMPA) for Dupixent (dupilumab) for treating adults suffering from moderate to severe atopic dermatitis. Dupixent is widely available as a 300mg dose pre-filled syringe in China.
The Prominent Key Players Operating in the Injectable Drug Delivery Devices Market Include:
- Baxter (U.S.)
- BD (U.S.)
- China Meheco Group Co., Ltd (China)
- Elcam Medical (U.S.)
- Lilly (U.S.)
- Mylan N.V. (U.S.)
- Novo Nordisk A/S (Denmark)
- Pfizer Inc (U.S.)
- Agouron Pharmaceuticals (U.S.)
- AHP Holdings B.V. (Netherlands)
- Alacer Corp. (U.S.)
- Alpharma Pharmaceuticals LLC (U.S.)
- Bioren, LLC (U.S.)
- G.D. Searle & Co. Limited (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of injectable drug delivery devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Injectable Drug Delivery Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
