Injectable Drug Delivery Market Worth $1139.4 billion | MarketsandMarketstm

CHICAGO, May 6, 2024 /PRNewswire/ -- Injectable Drug Delivery Market in terms of revenue was estimated to be worth $754.5 billion in 2024 and is poised to reach $1139.4 billion by 2029, growing at a CAGR of 8.6% from 2024 to 2029 according to a new report by MarketsandMarketstm.

The growth in the Injectable drug delivery market is mainly due to an increase in technological advancements, an Increase in chronic diseases, and an increase in government funding. The ageing global population is pushing up demand for healthcare services and drugs. Older persons frequently have complicated healthcare demands and may require injectable medications to address chronic illnesses, which contributes to the expansion of the injectable drug delivery industry.

Emerging economies are seeing rapid urbanization, improved healthcare infrastructure, and more healthcare spending, resulting in greater access to injectable drugs. As a result, pharmaceutical companies are focusing on extending their presence in these markets to drive market growth.

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Injectable Drug Delivery Market Scope:

"By Therapeutic application, Infectious diseases holds the largest share in 2023."

Injectable vaccinations prevent infectious diseases by activating the immune system to create antibodies against certain organisms. Vaccines are delivered intramuscularly or subcutaneously to produce immunity to diseases such as influenza, measles, polio, hepatitis, and COVID-19, among others. Injectable drugs are widely used to treat chronic infectious disorders like tuberculosis (TB) and HIV/AIDS. To efficiently target the TB germs and prevent medication resistance, TB treatment frequently combines oral antibiotics with injectable treatments such as rifampin, isoniazid, and streptomycin. Similarly, injectable antiretroviral medications can be used in HIV/AIDS therapy regimens to reduce viral replication and prevent disease progression.

"By Usage Pattern Curative Care holds the largest share in 2023."

Based on usage patterns, the Injectable drug delivery market is segmented into curative care, Immunization, and Other usage patterns. Curative care holds the largest share during the forecast period. Injectable drugs are frequently utilised in curative care settings, such as hospitals and emergency rooms, to treat acute medical illnesses that require prompt attention. For example, injectable antibiotics, antivirals, and analgesics may be used to treat infections, pain, and other acute symptoms, allowing for faster recovery and resolution of the illness. Injectable medication delivery allows for precise administration of targeted medicines based on unique patient characteristics, genetic profiles, and illness biomarkers. Targeted therapies, such as monoclonal antibodies, immunotherapies, and gene therapies, are injected to specifically target cancer cells, alter immune responses, or correct genetic abnormalities, resulting in cures or disease-modifying effects.

"Hospitals are the fastest-growing end users of the Injectable drug delivery market in 2023."

Based on end users, the Injectable drug delivery market is segmented into Hospitals and Retail Pharmacy centres. Hospitals serve a wide range of medical disciplines, including surgery, cancer, cardiology, neurology, infectious diseases, and others, all of which may necessitate injectable drugs for diagnosis, treatment, or prevention. Injectable medications are utilised in a variety of medical fields to provide targeted therapies, perform diagnostic tests, and offer supportive care to patients. Hospitals perform a variety of medical procedures and interventions, including surgeries, diagnostic imaging, interventional radiology, and therapeutic interventions, which may necessitate the use of injectable drugs before, during, or following the treatment. Injectable medications are used extensively in anesthesia, sedation, pain management, contrast enhancement, and other procedures, which contributes to the overall demand for injectable drug delivery in hospital settings.

"North America dominates the global Injectable drug delivery market in 2023."

The Injectable drug delivery market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2023 North America accounted for the largest share during the forecast period due to the following reasons- North America has one of the world's highest healthcare costs, thanks to innovative medical technologies, expensive prescription drug prices, and a comprehensive healthcare insurance system. The readiness to invest in novel healthcare solutions, such as injectable drug delivery systems, helps to drive market growth and adoption in the region. North America is home to world-class clinical research institutes, university medical centres, and pharmaceutical research hubs that perform clinical trials, translational research, and technology development for injectable drug delivery. Collaborations among academia, industry, and government organizations promote innovation and the translation of scientific discoveries into clinical practice.

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Injectable Drug Delivery Market Dynamics:

Drivers:

1. Increased Prevalence of Chronic Diseases

Restraints:

1. Infections associated with needlestick injuries

Opportunities:

1. Increase in demand for biosimilars and generic medicine

Challenge:

1. Preference for other modes of drug delivery

Key Market Players of Injectable Drug Delivery Industry:

The prominent companies are Becton, Dickinson and Company (U.S.), Pfizer Inc. (U.S.), Teva Pharmaceuticals Industries Ltd. (Israel), Eli Lilly and Company (U.S.), Baxter International, Inc. (U.S.), Sandoz (Germany), Terumo (Japan), Schott AG (Germany), Gerresheimer (Germany), Ypsomed (Switzerland), Bespak (U.K.), and B. Braun Melsungen (Germany).

Breakdown of supply-side primary interviews, by company type, designation, and region:

• By Company Type: Tier 1 (20%), Tier 2 (45%), and Tier 3 (35%)
• By Designation: C-level (30%), Director-level (20%), and Others (50%)
• By Region: North America (35%), Europe (24%), Asia Pacific (25%), RoW (16%)

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Recent Developments of Injectable Drug Delivery Industry:

• In Sep 2022 BD launched BD EffivaxTM Glass prefillable syringes. This syringe will help in growing demand for vaccines manufacturing.
• In Oct 2022 GSK received its product approval for BOOSTRIX (Tetanus Toxoid, Reduced Diphtheria Toxoid and Acellular Pertussis Vaccine, Adsorbed; Tdap) for immunization during the third trimester of pregnancy to help prevent pertussis (whooping cough) in infants younger than two months old.)
• In Nov 2023 Eli and Lilly received FDA approval for Zepbound injection which is the first and only obesity medication.

Injectable Drug Delivery Market - Key Benefits of Buying the Report:

This report studies the Injectable drug delivery market based on type, formulation packaging, site of administration, route of administration, facility of use, distribution channels and region. The report also analyses factors (such as drivers, restraints, opportunities and challenges) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro markets concerning their growth trends, prospects, and contributions to the total apheresis market. The report forecasts the revenue of the market segments to five major regions.

Reasons to Buy the Report

This report also includes.

• Analysis of key drivers (increasing chronic diseases, increasing biologics, technological advancements) ,restraints (Infections associated with needle stick injuries), challenges(Other methods of Injectable drug delivery available in the market), opportunities (Increase in the demand of generic medicines and biosimilars) contributing the growth of the Injectable drug delivery market.
• Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, in the Injectable drug delivery market.
• Market Development: Comprehensive information on the lucrative emerging markets by type, formulation packaging, by site of administration,facility of use and region.
• Market Diversification: Exhaustive information about the growing geographies, recent developments, investments in the Injectable drug delivery market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, company evaluation quadrant, and capabilities of leading players in the global Injectable drug delivery market.

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