Injectable Drug Delivery Market to Hit USD 1,251.28 Billion by 2027; Rising Prevalence of Chronic Diseases to Add Impetus

The global injectable drug delivery market size is projected to hit USD 1,251.28 billion by 2027 owing to the increasing prevalence of diseases such as diabetes, cancer, and others. Injectable drug delivery systems have evolved from traditional pills, tablets, and capsules to technologically advanced minimally invasive surgeries. As per a recent report by Fortune Business Insights, titled,“Injectable Drug Delivery Market Size, Share & COVID-19 Impact Analysis, By Device Type (Conventional Injectable, Pre-filled syringes, Auto- injectors, Pen Injectors, and Wearable), By Product Type (Freeze-dried Products, Injectable Sterile Products), By End User (Hospitals, Homecare Settings, Clinics, and Others), and Regional Forecast, 2020-2027,” the value of this market was USD 483.45 billion in the year 2019 and it will exhibit a CAGR of 12.9% between 2020 to 2027.

A New Auto-Injector called HUMIRA Pen launched by Eisai and AbbVie for Patient’s Convenience

The new Humira Pen was launched successfully by Eisai Co. Ltd., AbbVie GK, and EA Pharma Co. Ltd., a subsidiary of Eisai Co. Ltd. Humira is the first monoclonal antibody with anti-TNF-alpha used for treating autoimmune diseases such as multiple sclerosis, rheumatoid arthritis, psoriasis, and others. This auto-injector is user-friendly, which means that the patient can easily operate it without assistance. The joint venture between these three companies also aims at offering detailed information on the correct utilization of HUMIRA to improve the overall quality of life of various patients. Such initiatives are likely to aid in the expansion of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/injectable-drug-delivery-market-101044

Increasing Popularity of Minimally Invasive Diagnostics to Bolster Growth

The increasing prevalence of various diseases such as diabetes, cancer, heart diseases, psoriasis, rheumatoid disease, and others stands as the key factor boosting the global injectable drug delivery market growth. In addition to this, the current COVID-19 pandemic and the increasing number of coronavirus cases worldwide are also propelling the demand for injectable drugs in the market. Moreover, the advent of technological advancement in healthcare and medical technology and the increasing popularity of minimally invasive therapeutic procedures will help the market to gain impetus in the forecast duration.

However, the high cost of devices may pose a major challenge to the market. Nevertheless, the advent of smart healthcare devices such as wearables and the rising inclination towards self-injecting drugs are likely to create lucrative growth opportunities for the market in the near future.

Launch of Innovative Product Development – Key Objective of Players

Major players of the market for injectable drug delivery are emphasizing on the development of novel injectable products so as to gain a competitive edge in the market. Additionally, the increasing investment in novel and advanced technologies such as Bluetooth equipped devices, smart wearables, and others will also help players compete for the top position in the market. The other players are engaging in merger and acquisition, joint ventures, contracts and agreements, and other collaborative strategies to maintain their position in the market and generate significant revenue in the coming years.

Major Industry Developments of Injectable Drug Delivery Market include:

• November 2017 – A new extension of SMARTDOSE was launched by the West Pharmaceutical Services Inc., as a drug platform for helping patients with cardiac disorders.

List of Prominent Players in the Market include:

• Gerresheimer AG (Germany, Europe)


• Eli Lilly and Company (Indiana, U.S)


• Ypsomed AG (Switzerland, Europe)


• BD (New Jersey, U.S)


• West Pharmaceutical Services, Inc. (Pennsylvania, U.S)


• SHL Medical AG (Switzerland, Europe)


• Elcam Medical (Israel, Middle East)


• Insulet Corporation (Massachusetts, U.S)


• Pfizer Inc. (New York, U.S)


• Other players

Further Report Findings

• North America generated a revenue of USD 172.67 billion in 2019 and earned the largest injectable drug delivery market share on account of the presence of major players and the early adoption of latest medical treatment.


• Based on segmentation by product type, the injectable sterile products segment gained dominance attributable to the fact that it is pathogen-free and has low risk of infection.

The Global Market is categorized into: