Global Intradermal Injection market to reach US$ 10,814.47 Million by 2032; growing at a 10.8% CAGR: FMI Report
The global intradermal injection market size is expected to surpass an impressive valuation of US$ 3,878 Million in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 10.8% from 2022 to 2032. In recent years, technological advancements have led to the development of surgical approaches with the aim to minimize waste and achieve better results. The reusable intradermal devices result in low waste generation, having a net positive effect on the productivity of an economy.
Along with this, the results of several meta-analyses prove that intradermal delivery of drugs reduces the intensity of adverse events. The factors mentioned above indicate the favourable condition for the rapid growth of this segment in the future. The rising prevalence rate of tuberculosis is expected to promote the growth rate of the intradermal injection market. As per the data of WHO, tuberculosis is the 13th leading cause of death, and about 10 million cases of TB have been recorded every year, which resulted in the sudden rise in the diagnostic rate of TB during the last decade.
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This is one of the major factors that acts as one of the leading reasons for increasing the intradermal injection market size of tuberculin syringes. According to the American Cancer Society’s 2022 report, over 1.9 million new cancers are expected to be recorded in the United States in 2022. Also, as per the same source, the risk of having cancer rises dramatically as one gets older, and in the United States, 80% of cancer patients are 55 or older, with 57% being 65 or older. These figures tell that the growing geriatric population is expected to have a significant positive impact on the growth of the market.
Key Takeaways from Market Study
- The global Intradermal Injection market is expected to garner a market value of US$ 10,814.47 Million.
- Market is projected to exhibit a compound annual growth rate (CAGR) of 10.8% from 2022 to 2032.
- The Europe Intradermal Injection market size is anticipated to register commendable growth, with the United Kingdom acquiring a major share.
- North America was the leading regional segment in terms of revenue and market share.
- Based on method, the normal sized needles dominate the market.
- By application, the tuberculin skin test segment is estimated to hold the largest share.
“The growing burden of chronic diseases has led to a rise in the overall use of syringes, particularly disposable syringes, intradermal jet injectors, microinjections, and ballistic intradermal injections treatment and diagnostic purposes,” says an analyst at Future Market Insights.
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Key Market Players
Major players are channeling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the Intradermal Injection market are Becton Dickinson, Cardinal Health, West Pharmaceuticals services, Terumo Corporation, Nanopass, Pharmajet, Idevax, Enusung, Crossject, and Hindustan Syringes and Medical Devices.
- In May 2022, Stevanato Group S.p.A. signed an exclusive agreement with leading medical device developer and manufacturer Owen Mumford Ltd. for its Aidaptus auto-injector. Aidaptus is a 2-step, single-use auto-injector with a versatile design that accommodates both 1 mL and 2.25 mL prefilled glass syringes in the same base device.
- In May 2020, Takeda Pharmaceutical Company Limited received approval from the European Commission for the subcutaneous (SC) formulation of Entyvio (vedolizumab), a gut-selective biologic for use as maintenance therapy in adults with moderately to severely active ulcerative colitis (UC) or Crohn’s disease (CD). Entyvio SC is available in both a pre-filled syringe and a pre-filled pen.
- Terumo Corporation is a pioneer in hypodermic needle innovation. The company offers a comprehensive platform of precision-engineered needle and needle stick prevention technologies ready for the most challenging applications and high-throughput processing environments. The company helps design and deliver safer, less painful injections to ensure the therapeutic success of the drug product. Some of its products include the Nanopass® 34G Needle for Pen Injectors, the Neolus Needles, SurGuard® Safety Hypodermic Needles, the SurGuard® 3 Safety Hypodermic Needles and the Terumo 3-Part Syringe.
- In May 2021, Crossject announced further strengthening of its partnership with long-term collaborator Cenexi to ramp-up industrial scale manufacturing of the ZENEO® needle-free auto-injection. With this announcement, Cenexi strengthened its positioning on innovation and sterile manufacturing expertise thanks to its human-scale agility, and its recognized skills in pharmaceutical development.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Intradermal Injection market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Method (Normal Sized Needles, Short Needle (Intradermal Microinjection, Microneedle Arrays, and Tattoo Devices], and Without Needle {Intradermal Liquid Jet Devices and Ballistic Intradermal Injectors]), Application (Tuberculin Skin Test, Allergy Test, Local Aesthetics, and Others), and End User (Hospitals, Diagnostic Laboratories, Academics and Research Institutes, and Others) & Region.
About the Technology at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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