Global Injectable Drug Delivery Devices Market Size Likely to Reach at a CAGR of 10.21% By 2033

As per the current market research conducted by the CMI Team, the global Injectable Drug Delivery Devices Market size is expected to record a CAGR of 10.21% from 2024 to 2033. In 2023, the market size is projected to reach a valuation of USD 17,032.08 Million. By 2033, the valuation is anticipated to reach USD 40,956.3 Million.

Injectable Drug Delivery Devices Market: Growth Factors and Dynamics

• Increasing Prevalence of Chronic Diseases: Chronic diseases such as diabetes, cancer, and autoimmune disorders are on the rise, leading to a higher demand for injectable drugs. These conditions often require long-term or lifelong medication, boosting the market for injectable delivery devices.

• Advancements in Biologics and Biosimilars: The development of biologics and biosimilars has significantly increased the need for injectable drug delivery systems. Biologics often cannot be administered orally due to their molecular complexity and degradation in the gastrointestinal tract.

• Rising Geriatric Population: The global increase in the elderly population, who are more prone to chronic and acute conditions requiring injectable medications, is a significant driver of market growth.

• Growing Preference for Home Healthcare: There is an increasing trend toward self-administration of drugs at home, driven by patient preference for convenience and cost-effectiveness, which supports the demand for user-friendly injectable devices.

• Innovative device design and technology: R&D is leading to the development of advanced features in injectable devices, such as auto-injectors and pen injectors that offer precise dosing, ease of use, and safety mechanisms to prevent needlestick injuries. These advancements help healthcare providers to remotely monitor patients’ compliance and adjust treatments as necessary.

• Development of biocompatible materials: The use of biocompatible and patient-friendly materials, resulting from extensive R&D, ensures that injectable devices are safe, less painful, and cause minimal irritation or allergic reactions. This enhances patient comfort and acceptance.

• Precision in treatment: Personalized medicine involves tailoring medical treatment to the individual characteristics of each patient. This approach increases the need for precision in drug delivery, which injectable devices can provide. Devices designed for targeted delivery can ensure that the right dose reaches the intended site, enhancing treatment efficacy and reducing side effects.

• Advances in biomarker research: Biomarker research, which identifies the best treatment options for patients based on their genetic makeup, supports the development of injectable devices tailored to individual needs. This synergy between biomarker research and drug delivery technology accelerates market growth.

Injectable Drug Delivery Devices Market: Partnership and Acquisitions

• In May 2024, Biocon Limited signed an exclusive licensing agreement with South Korean specialty pharmaceutical firm Handok to commercialize Synthetic Liraglutide, a complex drug product used for chronic weight management, as a supplementary treatment alongside a reduced-calorie diet and enhanced physical activity.

• In March 2024, Johnson & Johnson completed the acquisition of Ambrx Biopharma, a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform for next-generation antibody drug conjugates, for an all-cash merger transaction valued at $2.0 billion or $1.9 billion net of estimated cash acquired.

Report Scope

Injectable Drug Delivery Devices Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the injectable drug delivery devices market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Increased demand for vaccination supplies: The unprecedented global vaccination campaigns necessitated by the COVID-19 pandemic have led to a surge in demand for needles, syringes, and other injectable delivery devices. The urgent need to vaccinate billions of people worldwide created a massive and immediate market for these products.

• Acceleration of research and development: The pandemic accelerated R&D efforts in the pharmaceutical and medical device industries. Companies invested heavily in developing and scaling up the production of new and existing injectable drug delivery systems to meet the urgent need for COVID-19 vaccines.

• Expansion of manufacturing capacities: Manufacturers expanded production capacities to meet global demand for injectable delivery devices, establishing new facilities and enhancing existing ones. Governments and international organizations provided support and funding, boosting the market.

• Surge in Demand for Vaccination Supplies: The development of COVID-19 vaccines has significantly boosted the growth of injectable drug delivery systems. The global vaccination drive has led to an increased demand for needles and syringes.

• Government Initiatives: In June 2021, India’s Ministry of Health and Family Welfare reported substantial orders to support its vaccination campaign—250 million doses of Covishield from the Serum Institute of India and 190 million doses of Covaxin from Bharat Biotech. This large-scale procurement is expected to positively impact the market.

• Innovation and New Product Launches: Many companies have introduced new injectable drug delivery devices that enhance bioavailability and enable rapid and targeted drug delivery. These innovations are expected to significantly drive market growth.

• Supply Chain Challenges and Resilience: The pandemic exposed vulnerabilities in global supply chains, including those for medical devices. Disruptions in the supply of raw materials, transportation issues, and lockdowns impacted production and distribution. However, the crisis also led to increased resilience as companies and governments worked to stabilize supply chains, diversify sources of raw materials, and implement better inventory management practices.

• Regulatory accelerations: The pandemic increased the focus on self-administration and home care to reduce the burden on healthcare facilities and minimize the risk of virus transmission. This shift drove demand for user-friendly injectable devices that patients could safely use at home.

In conclusion, the COVID-19 pandemic has had a mixed impact on the injectable drug delivery devices market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Injectable Drug Delivery Devices Market:

• Antares Pharma
• AbbVie Inc.
• Baxter International Inc.
• Becton Dickinson and Company
• Biocon
• Eli Lilly and Company
• Gerresheimer AG
• Johnson & Johnson
• Novartis AG
• Novo Nordisk A/S
• Pfizer Inc.
• Schott AG
• Terumo Corporation
• Teva Pharmaceutical Industries Ltd.
• West Pharmaceutical Services Inc.
• Others

The Injectable Drug Delivery Devices Market is segmented as follows:

By Device Type

• Conventional Drug Delivery Devices
• Advanced Drug Delivery Devices
  • Prefilled Syringes
  • Injectable Pens
  • Auto Injectors
  • Needle-free Injectors
  • Others

By Therapeutic Application

• Cardiovascular Disease
• Autoimmune Disorders
• Diabetes
• Oncology
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies & Drug Stores
• Online Pharmacies
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America