The Rise in Chronic Diseases Accelerates the Adoption of Injectable Drug Delivery Systems. Fact.MR Reports

ROCKVILLE, MD, UNITED STATES, June 6, 2024 /EINPresswire.com/ -- The global injectable drug delivery market size is estimated to reach US$ 49,446.0 million in 2024. The sales of injectable drug delivery are expected to witness a CAGR of 8.4% from 2024 to 2034. By 2034, the injectable drug delivery demand is anticipated to reach a valuation of US$ 1,10,998.3 million.

Due to the sharp rise in diabetes, heart problems, and chronic illness instances, people are becoming more conscious of their health issues. The general public is attempting to adopt any treatment that may aid in their recovery. The injectable drug delivery market is transformed by sophisticated medication delivery devices with alarms, recycled materials, multiple drug-carrying capabilities, and speedier effectiveness. Injectable drug delivery system sales have surged due to patients' growing preference for reusable, ready-to-use devices.

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One of these concepts is using recycled materials to create recyclable insulin delivery pens and syringes. The demand for injectable drug delivery systems has the potential to be constrained by the higher costs of recycling drug injectors.

Regional Outlook

The rising incidence of several illnesses is said to be the reason for the rise of the injectable medicine delivery market in North America. The injectable drug delivery market in the region is also expanding due to suppliers' increasing adoption of tactics.

Europe is going to advance at the quickest pace. In Europe, the United Kingdom controls the market. The injectable drug delivery device market in Europe is ascribed to various factors, including the emergence of the biologics industry, the increasing prevalence of chronic illnesses, and the growing need for self-injection devices. The demand for injectable drug delivery in Europe is expanding due to growing disposable income, increased collaborations, and growing consumer awareness of comfort and safety.

“As nanotechnology is expected to play a significant role in the general drug delivery system market growth and weaponize it with target-based technology that increases the productivity of these systems, faster and more efficient injectable drug delivery equipment is likely to flourish the injectable drug delivery market opportunities.” says an analyst

Key Takeaways

The non-smart injectors segment in the technology category to grab a share of 82.8% by 2034. In the product type category, the insulin pen segment to acquire a market share of 47.4% by 2034. The wearable injectors segment in the product type category to exhibit a CAGR of 9.6% from 2024 to 2034.

In the technology category, the smart injectors segment to accelerate at a CAGR of 8.8% between 2024 and 2034. The disposable injectors segment in the usage category to grab a share of 59.7% by 2034. The disposable injectors segment in the usage category to exhibit a CAGR of 8.7% from 2024 to 2034.

In the indication category, the diabetes segment to acquire a market share of 52.7% by 2034. In the indication category, the multiple sclerosis segment to develop at a CAGR of 9.4% between 2024 and 2034.

The United States injectable drug delivery device market is anticipated to surge at a CAGR of 9% from 2024 to 2034. Canada injectable drug delivery market is to develop at a CAGR of 8.3% through 2034. Mexico injectable drug delivery system market is anticipated to surge at a CAGR of 8.1% between 2024 and 2034.

In the distribution channel category, the hospital pharmacies segment to acquire a market share of 34% by 2034. In the distribution channel category, the online pharmacies segment to evolve at a CAGR of 9.1% through 2034. China injectable drug delivery system market is expected to surge at a CAGR of 9.9% through 2034. South Korea injectable drug delivery device market is anticipated to boost at a CAGR of 8.1% between 2024 and 2034. Japan injectable drug delivery market is to exhibit a CAGR of 9.1% through 2034.

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Competitive Landscape

Leading injectable drug delivery vendors are concentrating on growing their product lines and entering emerging markets. While some injectable drug delivery manufacturers focus on expanding their product portfolios or reaching new markets through acquisitions, many others focus on developing innovative injectable medicine delivery systems.

Antares Pharma, Inc. declared in September 2021 that the ATRS-1902 phase 1 research for adrenal crisis rescue had started. The program backs a suggested use of a novel, patented auto-injector platform to administer liquid hydrocortisone to adults and adolescents suffering from acute adrenal insufficiency.

Becton, Dickinson, and Company introduced the BD Ultrasafe Plus 2.25 ml Passive Needle Guard in November 2021, intended for use in medication and device products. The innovative method allows the delivery of biological solutions with varied volumes of up to 2 ml and viscosities of up to 30 cP when paired with a Glass Prefillable Syringe.

Explore More Related Studies Published by Fact.MR Research:

Generic Injectables Market: The global generic injectables market is likely to be valued at US$ 1.02 Billion in FY 2022, up from US$ 0.8 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 13.1%. From 2022 to 2032, Generic Injectables sales are poised to flourish at a CAGR of 13.3% to reach a value of US$ 3.6 Billion by the end of 2032.

Drug Delivery Systems Market: The worldwide drug delivery systems market was worth around US$ 40 Billion in 2022 and is expected to grow at a CAGR of more than 7.8% from 2022 to 2032, reaching roughly US$ 80 Billion by 2032.

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