Global Injectable Drug Delivery Market is Expected to Reach USD 789.7 billion by 2024| Trend, Forecast, Growth Analysis, Outlook and Market Research Analysis

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Global Injectable Drug Delivery Market is expected to reach USD 789.7 billion by 2024 from USD 330.6 billion in 2016, at a CAGR of 11.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024. Injectable drug delivery market has the largest market segment in Drug delivery market.

North America Injectable Drug Delivery Market is expected to reach USD 354.53billion by 2024 from USD 154.05 billion in 2016, at a CAGR of 5.4% in the forecast period 2017 to 2024.

Europe Injectable Drug Delivery Market is expected to reach USD 265.0 billion by 2024 from USD 107.4 billion in 2016, at a CAGR of 11.9 % in the forecast period 2017 to 2024.

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Recent Growths:

The major factors driving the growth of this market are the increasing use of biologics, rising prevalence of chronic diseases, increasing occurrence of needle stick injuries, and the benefits of injections (convenience, ease of use, and reduced pain). These factors increase the demand for devices such as safety syringes, prefilled syringes, and auto-disabled syringes. On the other hand, safety concerns regarding the use of injectable, increased risk of blood-borne infections due to injectable and presence of other drug delivery methods (such as oral and transdermal) may hinder the growth of the market.

Some of the Top Key Players:

Baxter International, Inc., Becton, Dickinson and Company, Gerresheimer AG, Pfizer, Inc., Schott AG, Alkermes Plc., Eli Lilly and Company, Sandoz, Terumo Corporation, and Teva Pharmaceuticals Industries Ltd.

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Becton, Dickinson and Company:

Founded in 1897 as Becton, Dickinson and Company and head quartered in New Jersey, U.S. is focused on developing, manufacturing and sales of medical supplies, devices, laboratory equipment and diagnostic products. The company operates through two business segments: BD Medical and BD Life Sciences.

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Pfizer:

Incorporated in June 1942 and headquartered in New York, U.S. Pfizer Inc., is engaged in discovering, developing and, manufacturing of healthcare products. Pfizer Inc., operates through two segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The Company’s IH segment concentrates on creating and commercializing immunizations and prescriptions that enhance patients’ lives, and in addition products for the end user health care.

Company Share Study:

The report also includes company’s share analysis for the major companies operating in this market by major regions as North America, Europe and Asia Pacific. The details of mergers and acquisitions, product launches, expansions, and product life cycle matrix are also a part of this report.
The Injectable drug delivery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

Global Injectable Drug Delivery Market Key Drivers:

Some of the major factors driving the market for injectable drug delivery market are increasing use of biologics, rising prevalence of chronic diseases, increasing occurrence of needle-stick injuries, and the benefits of injections (convenience, ease of use, and reduced pain). These factors increase the demand for devices such as safety syringes, prefilled syringes, and auto-disabled syringes. Increasing prevalence of chronic diseases, rising demand for self-injection devices, growth of the biologics, and technological advancements are the major factors driving the growth of the injectable drug delivery market.
• Needlestick injuries and infections, regulatory hurdles, and preference for alternate modes of drug delivery are the factors which may hinder the growth of this market.
• Many companies are increasingly focusing on biologics and self-injection devices in order to strengthen their product portfolios in the injectable drug delivery market.
• Development of self-injection devices is changing the trend for the administration of injections in the healthcare sector.
• Increasing demand for biosimilars and generic injectables will drive the market in future.

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Other Market Insights:

North America injectable drug delivery market is expected to reach USD 354.5 billion by 2024 from USD 154.0 billion in 2016, at a CAGR of 11.0% in the forecast period 2017 to 2024.

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