In light of medicare advancements and the rising prevalence of life-threatening diseases, healthcare professionals are gradually making a shift toward injectable drug delivery systems from the hitherto oral medication solutions.
The injectable drug delivery market is, according to industry analysis, estimated to be around a staggering USD 49.44 billion, as of 2024. With the integration of telemedicine services, in the developing and developed parts of the world, this market is further slated to follow an upward surge.
Pharmaceutical companies in this industry are also leveraging this opportunity by curating more efficient devices, such as injectable, prefilled syringes, auto-injectors, and pen-injectors, for treating chronic and age-related conditions such as diabetes, hypertension, and arthritis. This has fueled the market to grow at a healthy CAGR of 8.70% through 2034.
The largest consumer group the companies are targeting in this market are the patients diagnosed with diabetes. In the United States alone, over 11.6% of the total population has diabetes at some level. This has set the right precedent for companies involved in this industry to market their offerings in the country. With the prevalence of diabetes and chronic diseases growing globally, the valuation is prone to hit USD 113.87 billion by the end of 2034.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 49.44 billion |
| Projected Market Value for 2034 | USD 113.87 billion |
| Value-based CAGR of the Market (2024 to 2034) | 8.70% |
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Many devices come under the purview of injectable drug delivery solutions such as self-injectors, needle-free injectors, auto-injectors, wearable injectors, and insulin pins. The insulin pins segment is expected to hold the predominant market share of 50.50% as of 2024.
| Attributes | Details |
|---|---|
| Product Type | Insulin Pins |
| Market Share (2024) | 50.50% |
On the basis of technology, injectable drug delivery systems are bifurcated into non-smart injectors and smart injectors. The former is slated to hold a market share of 83.80% as of 2024.
| Attributes | Details |
|---|---|
| Technology | Non-smart injectors |
| Market Share (2024) | 83.80% |
The biggest factor why medical professionals, even patients using injectable drug delivery systems, prefer non-smart injectors is due to their affordability. This makes them accessible to a wider range of consumers, especially those living in underdeveloped parts of the world.
Familiarity is another reason why lots of medical professionals choose non-smart injectors over smart ones. Apart from this, these injectors are simple to use and typically have straightforward mechanisms that require less training.
| Countries | CAGR (2024 to 2034) |
|---|---|
| China | 10.10% |
| Brazil | 9.80% |
| India | 9.50% |
| United Kingdom | 8.80% |
| Japan | 8.50% |
The market in China is a promising one. It is slated to progress at a CAGR of 10.10% through 2034.
The Chinese government since the pandemic has invested billions of dollars in making their healthcare system more advanced, sophisticated, and mechanized. This has led to a multitude of collaborations within the industry which is not only enhancing healthcare infrastructure but also increasing the adoption of modern equipment such as automatic injectors, needle-less drug delivers, etc.
For instance, in July 2021, Aptar announced the acquisition of 80% equity in Weihai Hengyu Medical Products Co., Ltd., bolstering its presence in China's market. This move aimed to enhance local manufacturing capacity and better serve regional and global customers.
Brazil is a lucrative country for the market. The market is anticipated to surge at a CAGR of 9.80% in the country.
According to a recent survey by NCBI, sexually transmitted diseases in Brazil have taken a tremendous jump by growing at a rate of 21% from 2010. This has forced drug delivery companies to curate injectable drugs and devices to combat this escalating health crisis.
A multitude of companies have already applied for approvals from the regulatory bodies in Brazil. For example, in June 2023, Brazil’s federal health regulator Anvisa approved injectable cabotegravir, a pre-exposure prophylaxis (PrEP) medication for HIV AIDS.
The India injectable drug delivery market is likely to flourish in the coming years. It is slated to inflate at a CAGR of 9.50% through 2034.
Since the pandemic, the Indian drug delivery market has seen a tremendous upward trend. Government as well as private healthcare companies are pouring billions of dollars into curating efficient devices and methodologies for drug deliveries to battle the nation's rising prevalence of chronic diseases.
The industry-academia collaboration has also benefited the market. For instance, in September 2019, Indian Institute of Technology Guwahati (IIT Guwahati) researchers developed nanomaterials from nature for controlled drug delivery, potentially targeting chemotherapy drugs directly to cancer cells, bypassing healthy cells.
The future of the United Kingdom injectable drug delivery market looks bright. The market is slated to rise at a CAGR of 8.80% through 2034 in the country.
The United Kingdom is currently dealing with the problem of rising obesity rates among its general population. The Health Survey for England 2021 estimates that 25.9% of adults in England are obese, which has forced medicare companies to curate weight-loss injectables. For instance, the United Kingdom’s Medicines and Healthcare Products Regulatory Agency recently approved Eli Lilly’s injectable diabetes medication for use as a weight loss treatment.
The market in Japan is slated to develop at a CAGR of 8.50% for the forecasted period of 2024 to 2034.
Japan is currently dealing with the problem of a growing aging population. This has pushed companies in the market to curate injectable drug delivery solutions that allow patients to take medications for chronic diseases, like hypertension, Alzheimer's, etc., at home.
For example, Japanese pharmaceutical company Eisai has planned to develop lecanemab, the Alzheimer's disease drug that has been approved in the USA for intravenous administration, so that it can be easily injected subcutaneously by patients or caregivers at home.
The market is an ever-evolving one with innovations and methodologies making constant entries into the market. With international companies investing billions of dollars in curating new devices and medical procedures for the healthcare sector, the market is very likely to experience an upward trend.
Domestic companies are developing devices according to the country’s needs. For example, Japanese companies are developing products for problems related to the aging population, the United Kingdom for obesity, and India for chronic diseases.
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The market is expected to be worth USD USD 49.44 billion in 2024.
The injectable drug delivery market is expected to reach USD 113.87 billion by 2034.
The market is in line to develop at a CAGR of 8.70% from 2024 to 2034.
Amgen Inc., Antares Pharma Inc., Becton Dickinson and Company, Consort Medical Plc (Bespak), Crossjet, and Medtronic plc, are some of the major players in the global injectable drug delivery market.
The market valuation in 2023 was USD 45.26 billion.
| Market Value (2023) | USD 768.9 million |
|---|---|
| Market Value (2033) | USD 1459.1 million |
| Market CAGR (2023 to 2033) | 6.6% |
| Market Value for 2024 | USD 5,97,980.6 million |
|---|---|
| Projected Market Value for 2034 | USD 9,91,631.3 million |
| Value-based CAGR of Market for 2024 to 2034 | 5.8% |
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