Injectable Drug Delivery Market expected to experience a (CAGR) of 10.9% during the forecast period from 2024 to 2031 - Baxter International Inc, Gerresheimer AG & Schott AG.

The Global Injectable Drug Delivery Market was valued at USD 607.3 billion in 2022 and is projected to grow substantially, reaching approximately USD 1,364.1 billion by 2031. The market is expected to experience a compound annual growth rate (CAGR) of 10.9% during the forecast period from 2024 to 2031.

Injectable drug delivery is a method of administering medications directly into the body using syringes, needles, or specialized devices. This approach can involve various techniques, including subcutaneous injections into the fatty tissue just under the skin, intramuscular injections into muscle tissue, intravenous injections directly into the bloodstream, and intradermal injections into the skin layers. Injectable drug delivery is often utilized for its ability to provide rapid absorption of medications, precise dosage control, and effective delivery of drugs that cannot be administered orally. It is commonly employed for vaccines, insulin, hormones, and biologic therapies, making it a crucial method for both routine and specialized medical treatments.

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Market Trends:

The Product Advancements are Driving the Global Injectable Drug Delivery Market Growth in the Forecast Period.

Product advancements are significantly driving the growth of the global injectable drug delivery market during the forecast period. For example, in August 2022, researchers from the UNC School of Medicine developed an advanced Injectable Drug-Delivery System using Rifabutin for treating tuberculosis. This system is particularly beneficial for individuals who cannot use rifampin, such as those with AIDS or HIV.

However, needle stick injuries pose a significant challenge to market growth. The CDC reports that approximately 385,000 needle stick injuries occur annually in hospital settings, equating to over 1,000 injuries per day. These injuries, often involving contaminated needles and other sharp devices, contribute to increased safety concerns and regulatory scrutiny, potentially hindering market expansion.

Market Segmentation:

By Product Type: Devices (Conventional injection device, Self-injection devices, Autoinjectors, Pen Injectors, Wearable injectors, Other devices), Formulations, Novel drug formulations (Niosomes, Liposomes, Polymeric/mixed cells, Microparticles).

By Packaging: Vials, Ampule, Bottle, Cartridges, Others.

By Therapeutic Application: Autoimmune Disease, Hormonal Disorders, Orphan disease, Cancer, Other therapeutic diseases.

By Distribution Channel: Online Pharmacies, Retail pharmacies, Hospital Pharmacies, Others.

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Major Players:

• Becton Dickinson & Company
• Baxter International, Inc.
• Gerresheimer AG
• Pfizer, Inc.
• Schott AG
• ELI Lilly and Company
• Sandoz (A Division of Novartis AG)
• Terumo Corporation
• Teva Pharmaceutical Industries Ltd.
• Corning Incorporated

Regional Analysis:

The global Injectable Drug Delivery Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Injectable Drug Delivery Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Key Developments:

In January 2022, West Pharmaceutical Services, a global leader in innovative solutions for injectable drug administration, entered into an exclusive supply and technology agreement with Corning Incorporated. Corning, an American technology corporation known for its expertise in specialty ceramics, glass, and advanced materials, including cutting-edge optics for industrial and scientific applications, is collaborating with West to advance their capabilities in injectable drug delivery.

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Biopharmaceuticals Market: https://datamintelligence.com/research-report/biopharmaceuticals-market

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