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Subcutaneous Drug Delivery Devices Market to 2027 - Insulet Corporation, BD, Enable Injections, Consort Medical, West Pharmaceutical Services, Elcam Medical, Amgen, Ypsomed, and SCPharmaceuticals

09-19-2019 09:27 AM CET | Health & Medicine

Press release from: The Insight Partners

Subcutaneous Drug Delivery Devices Market to 2027

Subcutaneous Drug Delivery Devices Market to 2027

The global subcutaneous drug delivery devices market is expected to reach US$ 17,290.47 Mn in 2027 from US$ 9,243.80 in 2018. The market is estimated to grow with a CAGR of 7.4% from 2019-2027.

The increased number of chronic disease prevalence around the globe, significant number of vaccination and immunization programs that incorporate the use of subcutaneous drug delivery devices for therapeutic administration, rise in the research and development of new products leading to the subsequent introduction of novel solutions and devices in the market are expected to account for the growth of the market. However, risk of infections and other diseases associated with the use of injections and syringes is likely to hamper the market growth.

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The global subcutaneous drug delivery devices market, based on the technology was segmented into syringes, pens, patches and others. In 2018, the syringes segment held the largest share of the market, by technology. However, the patches segmented is anticipated to witness fastest growth in the subcutaneous drug delivery devices market, based on technology. The syringes are among the most preferred method for subcutaneous drug administration, however, the reuse of these syringes can spread a variety of infectious diseases such as hepatitis and HIV among intravenous drug users.

The prominent players operating in the subcutaneous drug delivery devices market are Insulet Corporation, BD, Enable Injections, Consort Medical Plc, West Pharmaceutical Services, Inc., Elcam Medical, Amgen, Ypsomed AG, SCPharmaceuticals, Inc., Wilhelm Haselmeier GmbH & Co. KG, among others.

The market players are focused on bringing new and innovative products and services through various organic strategies such as product launches and expansions to sustain their position in the market. Recently in June 2018, Insulet received FDA 510(k) clearance for the Omnipod DASHTM Insulin Management System (Omnipod DASH). This clearance set up the foundation for a stable pace of innovation that enables Insulet to allow users to enjoy simplicity, healthier lives, and freedom with their differentiated technology.

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Strategic Insights

Some of the organic and inorganic growth activities are undertaken by the company, which have promoted the market growth. The companies have utilized strategies such as product launches, product approvals the growth of companies which is further expected to enhance the growth of the market during the coming years. For instance, in June 2018, Insulet received FDA 510(k) clearance for the Omnipod DASHTM Insulin Management System (Omnipod DASH). This clearance set up the foundation for a stable pace of innovation that enables Insulet to allow users to enjoy simplicity, healthier lives, and freedom swith their differentiated technology.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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