According to the report titled ‘Global Injectable Drug Delivery Market 2019-2028’, available with MarketStudyReport, global injectable drug delivery market is expected to grow at 8.66% CAGR during the forecast period 2019-2028.

 

Rise in geriatric population, increase in cases of autoimmune diseases, and boost in technological advancements are propelling the growth of global injectable drug delivery market. Furthermore, the development of better injectable systems, as well as an improvement in healthcare spending are likely to open new opportunities for businesses in this domain.

 

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Despite the positive outlook, introduction of alternative drug delivery systems and their elevated manufacturing costs, combined with stringent guidelines governing their use are likely to impede industry development in the coming years. 

 

Based on device type, the market is divided into pen injector, prefilled syringe (glass-prefilled syringe, plastic-prefilled syringe), needle injector (spring-based needle-free injector, gas-based needle-free injector, others), and auto-injector.

 

In terms of route of administration, worldwide injectable drug delivery market industry is classified into intravenous (IV), subcutaneous, intramuscular, and others. Concerning end-user ambit, the market is categorized into hospitals, clinics/physician offices, home-based, ambulatory care, and others.

 

From a regional standpoint, the market spans across Europe, North America, Latin America, Asia-Pacific, and Middle East & Africa. As per the report, Asia-Pacific market is anticipated to grow at a steady rate between 2019 and 2028, owing to a vast elderly population. To this effect, the report mentions that in China, 15.02% of the population was aged over 60 years in 2015, and this percentage expected to reach 25.3% by 2030.

 

Geriatric populace is more susceptible to variety of diseases and health conditions such as CVD, diabetes, autoimmune diseases, and chronic ailments, which is increasing the demand for injectable drug delivery systems, thereby generating revenues for the market during the projected timeframe. 

 

The competitive landscape of global injectable drug delivery market is defined by companies such as Becton, Dickinson, and Company (BD), Ypsomed Holding AG, West Pharmaceutical Services Inc., Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Elcam Medical Inc., Baxter International Inc., Injex Pharma GmbH, Sanofi S.A., Terumo Corporation, Novartis International AG, Gerresheimer AG, Eli Lilly and Company, and Schott AG among others.