Market scenario:
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.
The injectable drug delivery devices market is expected to receive substantial market traction due to the sleek designs and simplicity in application. Other than these factors, the market can gain more from rapidly increasing FDA approval of new products. Its being self-injectable is making it easier for several patients to take up these tools and keep their disease in check. These factors are for sure to trigger the global injectable drug delivery devices market.
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The Global Injectable Drug Delivery Devices Market is to record 11.5% CAGR owing to its ease of application during the forecast period (2018-2023).
Competitive Landscape:
- Antares Pharma,
- AstraZeneca,
- Eisai Co., Ltd.,
- Becton,
- 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.,
- Sanofi,
- Inovio Pharmaceuticals Inc.
Segmental Analysis:
The Global Injectable Drug Delivery Devices Market has been segmented on the basis of devices, therapeutic application, usage pattern, site of delivery, distribution channel, facility of use, and region. Based on devices, the injectable drug delivery devices market has been segmented into conventional injection devices and self-injection devices. The conventional injection devices segment commands the major share of the global injectable drug delivery devices market and. The conventional injection devices segment has been sub-segmented into material, product, and utility. The self-injectable devices segment has been sub-segmented into needle-free injectors and pen systems and autoinjectors.
Based on therapeutic application, the market has been segmented into autoimmune diseases, hormonal disorders, cancer, and others. The autoimmune diseases segment is projecting dominance over the global injectable drug delivery devices market and is expected to reach the valuation of USD 19,913.7 Mn by the end of the review period. Based on usage pattern, the global injectable drug delivery devices market has been segmented into curative and immunization. The curative segment is expanding at the fastest growth rate in the global injectable drug delivery devices market during the assessment period.
Based on site of delivery, the injectable drug delivery devices market has been segmented into intramuscular, subcutaneous, and intradermal. The intramuscular segment commands the largest share of the global injectable drug delivery devices market. Based on distribution channel, the market has been segmented into hospital & retail pharmacies and online platforms. The hospitals & retail pharmacies segment is leading the global injectable drug delivery devices market. Whereas, the online platform segment is anticipated to expand at the fastest CAGR of 11.4% during the assessment period. Based on facility of use, the injectable drug delivery devices market has been segmented into hospitals and clinics, home care settings, and others.
Regional Analysis:
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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