Major players in the injectable drug market are Becton, Dickinson and Company, Gerresheimer AG, Eli Lilly and Company, Pfizer Inc, Teva Pharmaceutical Industries Ltd, Schott AG, Baxter International, Owen Mumford, Mylan N.
New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Injectable Drug Delivery Devices Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06065181/?utm_source=GNW
V., and Sanofi.
The global injectable drug delivery devices market is expected to grow from $15.38 billion in 2020 to $17.13 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $25.79 billion in 2025 at a CAGR of 10.8%.
The injectable drug delivery devices market consists of sales of conventional syringes, needle-free injectors, auto injectors and pen injectors.The market includes the sales of the Injectable devices that have been extensively utilized for various routes of drug administration, such as intravenous, subcutaneous, intradermal, intra-peritoneal, and intra-muscular and others to treat medical conditions ranging from cancer to autoimmune disorders.
The injectable drug delivery devices used in hospitals, clinics and home care settings are included in this market.
Emergence of alternative drug delivery devices to injectable drug delivery devices is negatively affecting the market.Injectable (parenteral) drug delivery is one of the widely used conventional drug delivery system.
There are many alternative (painless) drug delivery systems such as nasal, transdermal, transmucosal, vaginal, anal and others which are evolving.The selection of drug delivery system depends on drug release, absorption, distribution, metabolism, and elimination profile of the therapeutic agent in order to achieve highest level of safety and efficacy from the drug.
Alternative drug delivery systems hold key importance in improving bioavailability, reducing toxicity and safety elimination of drug which is administered to treat particular disease.Growing disease related complications, regular developments in drugs and combinations of therapeutic agents are used to treat disease driving the need of alternative drug delivery system.
There are some recent ongoing developments in the field of alternative drug delivery system mainly in nanoparticles-based delivery system, intracellular delivery system, neural delivery system and many more. Thus, emergence of alternative drug delivery methods limits the growth of injectable drug delivery devices market.
The companies in the injectable drug delivery devices are increasingly focusing on the manufacturing of auto injectors.The auto injectors are fully automated, highly customized and reusable injectors that can be used by a patient to perform hundreds of injections.
Patients can control the speed of dose delivery to help minimize pain or discomfort during an injection.These devices have the ability to adjust the speed and depth of the automatic injection.
For instance, LISA, a reusable auto-injector manufactured by Unilife corporation comes with an array of highly customizable features including Bluetooth LE connectivity, Wi-Fi or 3G connectivity and pre-injection drug warming for target therapies. The injectable drug delivery technology market is expected to show significant growth in the coming years, due to various technological advancements and new product launches in order to improve the convenience and ease of administration of parenteral therapeutics.
The increasing preference for self-injection devices is driving the injectable drug delivery devices market.Self-injection devices are medical devices that can be used by the patient in home setting for self-administration of the medication.
Self-Injection devices include needle-free, auto, pen, and wearable injectors.These self-injectables were developed to provide the most adaptable device which has a high precision of drug delivery and is easy to use.
In addition, with the innovations in self-injectable devices, the acceptance of these products has increased over the past few years.BD Physioject is a disposable auto-injector, manufactured by Becton, Dickinson and Company, which is clinically proven, reliable and cost-effective specifically designed for self-injection of drugs by patients suffering from chronic diseases, including rheumatoid arthritis, multiple sclerosis, asthma and osteoporosis.
The other companies currently involved in self-injections market include Abbvie, Inc., 3M, Baxter, Gerresheimer AG, Pfizer Inc and more. The advantages of self-injectable injections and increasing awareness of self-administration have increased the demand for self-injectable devices and will drive the injectable drug delivery devices market during the forecast period.
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