The major factors responsible for the growth of this market are the increasing use of biologics, increase in the prevalence of chronic diseases, increasing occurrence of needlestick injuries, and the benefits of injections (convenience, ease of use, and reduced pain). These factors have increased the demand for devices such as safety syringes, prefilled syringes, and autoinjectors.
The objective of the report is to define, describe, and forecast the injectable drug delivery market size based on type, formulation packaging, therapeutic application, usage pattern, site of administration, distribution channel, facility of use, and region.
The Injectable Drug Delivery Market is projected to reach USD 902.3 billion by 2027 from USD 362.38 billion in 2016, at a CAGR of 11.5% during the forecast period.
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By therapeutic applications, the market is segmented into autoimmune diseases, hormonal disorders, cancer, orphan diseases, and other therapeutic applications (pain management, allergies, hepatitis C, aesthetic treatment, and hemophilia). Cancer segment is expected to register the highest CAGR during the forecast period.
By type, the formulation segment to witness the highest growth during the forecast period (2016–2021).
Based on type, the injectable drug delivery market is further segmented into formulation, and devices. The formulation segment is expected to grow at the highest CAGR during the forecast period. The high growth of this market segment is attributed to the growing prevalence of chronic diseases, patient adherence, and the rising adoption of self-injection, new technologies, and biologics.
By facility of use, the hospitals and clinics segment to dominate during the forecast period
The hospitals and clinics segment are expected to dominate the market. The large share of this segment is attributed to the rising prevalence of chronic diseases, patient compliance, and technological advancements.
Based on region, the injectable drug delivery market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is further subsegmented into the U.S. and Canada; while Europe is further subsegmented into Germany, France, the U.K., Italy, Spain, and the Rest of Europe (RoE); Asia is further subsegmented into Japan, China, India, and the Rest of Asia (RoA).
Along with this, the rise in disposable income, the growing awareness of safety and comfort, and the increasing number of partnerships in this market space are also contributing to the growth. In 2016, North America is expected to dominate the market, followed by Europe. The large share of North America is attributed to the increasing prevalence of chronic diseases and the number of companies that are focused on collaboration and partnerships to ensure the availability of high-value products.
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Asia is projected to be the fastest-growing region in the injectable drug delivery market from 2016 to 2021, due to the rising incidence of chronic diseases and the growing aging population. Moreover, high penetration of self-injection technologies in Asian countries such as China, Japan, and India adds to the demand for injectable devices.
Prominent players in the injectable drug delivery market include Becton, Dickinson and Company (U.S.), Baxter International (U.S.), Pfizer (U.S.), Gerresheimer AG (Germany), Schott AG (Germany), Eli Lilly and Company (U.S.), and Terumo Corporation (Japan).
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