Injectable Drug Delivery Market at a CAGR of 8.9% by 2033 growth is driven by the increasing demand for biologics, as per the FMI Report

Injectable Drug Delivery Market

The “Injectable Drug Delivery Market” is the practise of administering medications by injection directly into the body. It is a widely utilised method in medical settings for the administration of numerous drugs, including hormones, injections, antibiotics, and painkillers. Compared to other methods of drug delivery like oral or topical, this one has a number of benefits.

The capacity to deliver pharmaceuticals directly into the bloodstream or specific target tissues without having to travel through the digestive system is one of the main advantages of injectable drug administration. As a result, the medicine has a quicker onset of action, precise dosage capabilities, and increased bioavailability. Long-acting injectable medicine manufacture also makes sure that the drug is released gradually over a long period of time.

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Over the anticipated timeframe, it is predicted that the market for injectable medication administration would expand at a consistent CAGR of 8.9%. By 2033, it is anticipated that the market would bring in US$ 106.4 billion in sales, with a share of US$ 45.3 billion in 2023.

Among the many injectable drug delivery methods are syringes, needles, and auto-injectors. They may be administered by medical professionals or by the patient themselves, depending on the medication and the patient’s condition.

Additionally, the administration of medications by injection is crucial for the treatment of patients, especially in emergency situations where the drug must react quickly. When oral delivery is not possible, such as when dealing with those who have digestive issues or who are asleep, it is also regularly utilised.

Key Research Findings:

• Increase in demand for point-of-care devices and reduced reliance on healthcare facilities are driving the growth of the global injectable drug delivery market
• North America will be the dominant regional market for injectable drug delivery devices due to early adoption of advanced technologies
• Most of the major players operate from the U.S., which makes the U.S. the leading market for injectable drug delivery devices in North America
• In Europe, a large number of diabetes patients are switching towards needle-free injectable drug delivery devices from conventional injections since it is a painless process and reduces the risk of needle stick injuries
• Disposable injectors are the most commonly available type of injectors since they are user friendly and do not require special skills for administration
• Prefilled needle-free injectors are the most preferred type of injectors since they are much easier to administer than the fillable type
• Price control for most of the injectable drug delivery devices is fierce. For instance, Mylan was pressurised to launch the generic version of the EpiPen to reduce the price of the product in the market. However, this has declined the revenue of the company.
• In developed regions, such as North America and Europe, hospitals are the dominant distribution channel due in injectable drug delivery due to the reimbursement policies
• The growing competition in the emerging market and the rising demand for injectable drug delivery are the future opportunities for the growth and expansion of the injectable drug delivery market.

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Major Contributors of the Injectable drug delivery Market are:

• Amgen Inc.
• Antares Pharma Inc.
• Becton Dickinson and Company
• Consort Medical Plc (Bespak)
• Crossjet
• Medtronic plc,
• Mylan N.V.
• SHL Group
• West Pharmaceutical Services
• Ypsomed

Key Segments:

Product Type:

• Self Injector
• Needle Free Injectors
• Auto-Injectors
• Wearable Injectors
• Insulin Pens

Technology:

• Non-Smart Injectors
• Smart Injectors

Usage:

• Disposable Injectors
• Reusable Injectors

Indication:

• Anaphylaxis
• Diabetes
• Cardiovascular disease
• Multiple Sclerosis
• Rheumatoid Arthritis
• Cancer

Distribution Channel:

• Hospital Pharmacies
• Drug Stores
• Retail Pharmacies
• Online Pharmacies

By Region:

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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