New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Due to the increasing prevalence of chronic diseases, there has been a notable uptick in the adoption of injectable drug delivery methods in recent years. Diabetes mellitus, in particular, not only qualifies as a chronic ailment but also exacerbates the risk of several other chronic conditions, including cardiovascular diseases (which elevate the threat of heart attacks and congestive heart failure), renal failure, hepatic disorders, immunodeficiency, vision impairment, brain and nervous system disorders, and delayed wound healing. Global revenue from the injectable drug delivery market was about US$ 41.5 Billion in 2022, with the worldwide market estimated to surge ahead at a CAGR of 8.4% to reach a valuation of around US$ 101.2 Billion by the end of 2033.
Given the severity of these life-threatening ailments linked to diabetes, there has been a growing preference for self-monitoring and diagnosis in recent years. This trend is indicative of the rising utilization of injectable drug delivery products, thus positively influencing the market.According to statistics from the International Diabetes Federation, the global count of adults aged 20-79 living with diabetes in 2021 stood at approximately 537 million. Predictions from the same organization indicate that this number will increase to around 643 million by 2030 and further to approximately 783 million by 2045.
Furthermore, the increasing demand for injection devices equipped with advanced and automated features that facilitate self-administration is expected to drive market growth. Insulin delivery devices are tailored to meet patient needs, particularly for self-administration and home use.The daily administration of insulin doses can be uncomfortable and stressful for individuals with diabetes. Consequently, patients are seeking innovative medication delivery systems that offer painless, secure, user-friendly, and cost-effective solutions. Insulin delivery devices, such as insulin pens and pumps, offer distinct advantages over traditional injection methods. Conventional delivery systems necessitate up to seven daily injections, exhibit less precision in insulin delivery, and result in greater fluctuations in blood glucose levels.
In contrast, insulin pumps and pens deliver insulin with accuracy and precision, providing greater flexibility concerning exercise, meals, and daily routines. They also reduce the occurrence of severe hypoglycemic episodes and contribute to an improved quality of life. These advantages over traditional delivery systems are poised to drive market growth in the foreseeable future
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Injectable Drug Delivery Market Report Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 45.3 Billion | |
| Estimated Revenue 2033 | US$ 101.2 Billion | |
| Growth Rate – CAGR | 8.4% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 307 Pages | |
Key Market Segments Covered |
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Regions Covered |
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Key Companies Profiled |
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Injectable Drug Delivery: Market Dynamics:
Drivers:
One prominent driver behind this shift is the increasing need for vaccines, insulin, human growth hormone, and various contemporary medications employed in the treatment of conditions like cancer and chronic diseases. Given that biologics primarily necessitate injection-based delivery, the substantial expansion of the biologics sector is anticipated to be a key impetus for the growth of the injectable drug delivery and prefilled syringe market in the foreseeable future.
One notable product within the injectable drug delivery sector includes Humira (AbbVie Inc.), utilized to address moderate to severe rheumatoid arthritis (RA). Enbrel (Pfizer) is another prescription medication that can be self-administered, designed for managing chronic inflammatory conditions. Additionally, Herceptin (Roche) is a subcutaneous injection employed in the treatment of cancer.
Restraints:
In recent times, the injectable drug delivery technology market has witnessed several instances of product recalls. These recalls can occur voluntarily or as a result of regulatory authorities' interventions. It is essential to identify and address usability issues during the development phase to prevent such occurrences. The presence of visible foreign matter during retention sample testing of injectables can lead to severe health consequences, including permanent impairment of bodily functions, damage to blood vessels, local inflammation, phlebitis, allergic reactions, embolization within the body, and infections. Other factors contributing to injectable recalls include contamination from inorganic materials like glass, silicone, and stainless steel, as well as issues related to incomplete vial filling.
When a product is recalled, the process of retrieving and replacing the faulty product can result in significant financial losses for a company or manufacturer. These substantial losses can impact the company's revenue and market share, subsequently affecting the overall market.
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Opportunity:
Injectable contraceptives have witnessed a notable surge in usage over time, primarily owing to their remarkable effectiveness. This rise in the adoption of injectable contraceptives can be attributed to their high efficacy rate. Unlike daily contraceptive methods, injectable contraceptives offer the convenience of less frequent administration, typically required only once a month or once every three months. They are recognized as a safe and reliable option for preventing pregnancy, with a 99% success rate when administered correctly. Consequently, the growing demand for contraceptive injectables is poised to be a driving force for the market in the foreseeable future.
Challenges:
The injectable drug delivery method offers advantages such as rapid systemic absorption due to its extensive surface area. However, it comes with certain drawbacks, including the risk of needlestick injuries, infections, needle phobia, anxiety, and pain, which can impose limitations on its market potential. Among the various drug delivery routes available, the oral route remains the most favored due to its ease of use, convenience, cost-effectiveness, safety, and high level of acceptance.
Inhalation is another option that allows for rapid absorption, leveraging the extensive surface area of the respiratory endothelium. This method enables targeted delivery to the lungs with minimal systemic absorption, particularly suitable for bronchodilators and inhaled steroids. The topical route of drug administration is also preferred over injections, as it involves direct application to the skin, offers a non-invasive approach, is user-friendly, and boasts high patient compliance.
The inclination towards alternative drug delivery routes poses a significant challenge to the injectable drug delivery technology market.
Competitive Landscape:
Major companies in the injectable drug delivery sector are actively pursuing strategies for product line expansion and market growth in emerging regions. Some are dedicated to innovating new injectable medication delivery systems, while others are focused on extending their presence regionally or enhancing their product portfolios through acquisitions.
For example:
In 2022, Novo Nordisk A/S introduced two smart insulin pens, Novopen 6 and Novopen Echo Plus, into the U.K. and Ireland markets. In August 2019, Eli Lilly and Company received FDA approval for Taltz (ixekizumab) injection, indicated for adults with active ankylosing spondylitis or radiographic axial spondyloarthritis (r-axSpA). These are just a few of the recent developments within the injectable drug delivery sector, with more detailed information available in the complete report by Persistence Market Research.
Key Players:
- Eli Lilly and Company
- Biocon
- Becton, Dickinson & Company
- West Pharmaceutical Services, Inc.
- Johnson & Johnson
- Antares Pharma
- AbbVie Inc.
- Pfizer Inc.
- Mylan N.V.
- Vetter Pharma-Fertigung GmbH & Co.KG
- Emperra GmbH
- Digital Medics Pty Ltd
- Enable Injections LLC
- Insulet corporation
Segmentation:
Key Drivers of Growth in the Global Injectable Drug Delivery Market
- Increasing Incidence of Insulin-Dependent Diabetes
The rising prevalence of insulin-dependent diabetes has led to a significant increase in the use of insulin pens. Technological advancements have made these pens more convenient for patients.
According to the International Diabetes Federation Diabetes Atlas Tenth edition 2021, over 1.2 million children and adolescents aged 0 to 19 lived with type 1 diabetes in 2021. Additionally, approximately 541 million adults were at an increased risk of developing type 2 diabetes. These statistics highlight the dominance of insulin pens within the injectable drug delivery market.
- Greater Adoption of Non-Smart Injectors
The adoption rate of non-smart injectors is higher compared to smart injectors, mainly because smart injector technology is relatively recent. Patients tend to trust non-smart injectors more for their day-to-day injectable drug delivery needs.
- Higher Adoption of Disposable Injectors Over Reusable Ones
In healthcare settings, disposable injectors are preferred to reduce the risk of infection associated with reused injectors. Disposable injectors offer convenience by eliminating the need for cleaning, making them the dominant segment in the end-user category.
- Rising Prevalence of Diabetes
According to the International Diabetes Federation, diabetes prevalence is higher in developing countries than in developed ones. In low- and middle-income countries, three out of four adults live with diabetes.
- Increasing Number of Patient Visits to Hospitals
The growing incidence of various diseases has led to increased patient flow in hospitals, making injectable drug delivery products more accessible.
The expansion of hospitals and the rising number of patient visits have contributed to the dominance of this segment in the market.
Key Segments Covered in Injectable Drug Delivery Industry Research
Product:
- Self-Injectors
- Single Chamber Self Injectors
- Dual Chamber Self Injectors
- Needle Free Injectors
- Pre Filled Needle Free Injectors
- Fill-Able Needle free Injectors
- Auto Injectors
- Prefilled Auto Injectors
- Fill-Able Auto Injectors
- Wearable Injectors
- Wearable Patch Injectors
- Off-body Worn Injectors
- Insulin Pens
- Reusable Insulin Pens
- Disposable Insulin Pens
- Smart Insulin Pens
Technology:
- Non-Smart Injectors
- Smart Injectors
- Artificial Intelligence (AI) and Machine Learning Integrated
- Near Filed Communication (NFC)
- Cloud Computing
- Bluetooth
Usage:
- Disposable Injectors
- Reusable Injectors
Indication:
- Anaphylaxis
- Diabetes
- Cardiovascular Diseases
- Multiple Sclerosis
- Rheumatoid Arthritis
- Cancer
- Trauma and Emergency
- Others
Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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