Injectable Drugs Delivery Market - Global Industry Analysis, Size and Growth, 2023
The global injectable drug delivery market is growing significantly due to increasing prevalence of cancer and diabetes, technological advancements in injectable drug delivery devices, and increased patient adherence to injectable drug delivery systems in the industry. Massive unexplored injectable drug delivery market in emerging economies and development of biosimilars and biologics are creating ample opportunities for the global injectable drug delivery market to grow at a considerable rate in the coming years. The advanced research and development facilities and new product developments by the companies are propelling the demand for cost effective and efficient injectable drug delivery devices and formulations.
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Significant shift from conventional injectable drug delivery devices to self-injection drug delivery devices is a trend in global injectable drug delivery market. Increasing prevalence of diabetes has fuelled the demand of self-injection drug delivery devices; hence, reducing frequent hospital visits and costs related to it. According to the International Diabetes Federation (IDF), in 2013, there were 381.8 million people living with diabetes across the globe and the number was expected to grow to 591.9 million by 2035.
The global injectable drug delivery market is categorized as therapeutic applications, end-users, and products type. Based on therapeutic applications, the injectable drug delivery market is segmented as oncology disorders, autoimmune diseases, orphan diseases, hormonal disorders, and others. The hormonal disorders segment leads the global injectable drug delivery market due to high prevalence of diabetes. Based on end-users, the injectable drug delivery market is categorized as hospitals and nursing homes, research institutes, pharmaceutical and biotechnology companies, and others.
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Some of the major players operating in the global injectable drug delivery market are Becton, Dickinson and Company, Baxter International, Inc., Novo Nordisk A/S, Terumo Medical Corp., Sanofi, Schott AG, Ypsomed Holding AG, Antares Pharma, Inc., Owen Mumford Ltd., Eli Lilly And Company, and Zogenix, Inc. among others.
