An Incisive, In-depth Analysis on the Injectable Drug Delivery Market
This study offers a comprehensive, 360 degree analysis on the Injectable Drug Delivery market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Injectable Drug Delivery market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Drug delivery refers to the approaches, technologies and systems used for the administration of drugs to patients. Injectable drug delivery refers to the approach of administering the drug by penetration of needle or similar device into the skin. The administration may be either intravenous, subcutaneous or intramuscular based on the region of administration of the drug. The injectable drug delivery products can be categorized based on types as self-injectors, needle-free injectors and auto-injectors.
Self-injectors type of injectable drug delivery include wearable injectors that are small and handy. Self-injectors injectable drug delivery devices have a fine needle, which helps to reduce pain, and are generally used when a drug needs to be administered continuously, e.g., in the case of continuous administration and monitoring of insulin in patients suffering from diabetes. These devices either adhered to the skin or come with a belt. Needle-free type of injectable drug delivery are devices that allow the administration of drugs without the use of needles, but have similar administration that of a syringe. These injectable drug delivery devices may be pre-filled or fillable. Whereas the auto-injector type of injectable drug delivery are automated mechanical syringes, which may have selection of volume as an added feature. These devices are generally prefilled and disposable.
The growing competition in the emerging regions and rising demand for injectable drug delivery are some of the major factors expected to drive the growth of the injectable drug delivery market during the forecast period. For instance, pharmaceutical companies that have expanded in the Asia Pacific countries, such as China, are trying compete with Mylan for EpiPen. Similarly, patients suffering with conditions such as dementia and rheumatoid arthritis find it difficult to use conventional injections. The auto-injectors and other injectable drug delivery devices are easy to use and they help in reducing pain, which is the prime factor expected to increase the demand for injectable drug delivery devices.
Market Value and Forecast
FMI estimates that the global market for injectable drug delivery is expected to surpass US$ 32,136.9 Mn by 2028 end, expanding at a CAGR of 10.9% over 2018–2028. The needle-free type of injectable drug delivery is expected to be the dominant product type segment in the global injectable drug delivery market, which accounted about 40% revenue share in 2017, due to a large pool of patients suffering from diabetes, who generally prefer needle-free type of injectable drug delivery devices for a pain-free experience. Although North America is expected to be the dominant regional market for injectable drug delivery, Asia Pacific and Middle East & Africa injectable drug delivery market is expected to expand at high CAGRs over the forecast period.
The global injectable drug delivery market is expected to be driven by increasing prevalence of chronic diseases such as diabetes and cancer. According to the WHO, cancer is the leading cause of deaths across the globe. In 2015, cancer was responsible for nearly 8.8 million deaths worldwide. According to the National Cancer Institute, an estimated 1,735,350 new cases of cancer are expected to be diagnosed in the U.S. in 2018. Furthermore, most of the injectable drug delivery devices find wide application in the treatment of diabetes. Since diabetic patients are prescribed with insulin, they require regular injection of insulin. However, the risk of needle stick injuries is a growing concern. Thus, wearable insulin pumps and other injectable drug delivery devices are the preferred option for diabetic patients, since these devices have fine needles, which reduce the likelihood of injuries.
The global market for injectable drug delivery is segmented in to seven key regions viz. North America, Eastern Europe, Western Europe, Latin America, Asia Pacific except Japan (APEJ), Japan and the Middle East and Africa (MEA). North America injectable drug delivery market accounted a significant share of the global market in 2017, followed by Western Europe and Asia Pacific. The North America & Western Europe injectable drug delivery market is foreseen to lose its share to Asia Pacific, partly due to growing adoption and expansion of current manufacturers of injectable drug delivery. Thus, the injectable drug delivery market in Asia Pacific is expected to have strong growth during the forecast period. Furthermore, China, being one of the most populated regions in the world, has high aged population and the number is growing steadily. The increasing ageing population in the region is consequently expected to drive the growth of the injectable drug delivery market in the Asia Pacific region.
The key players identified in the global injectable drug delivery market can be classified based on the type of product they offer. Examples of some the key players manufacturing self-injector type of injectable drug delivery are Amgen, Medtronic Plc, Dexcom, West Pharmaceutical Services, and Consort Medical (Bespak), among others. The key players manufacturing needle-free type of injectable drug delivery are Crossject, Endo International Plc, and Penjet Corporation, among others. The key players manufacturing auto-injector type of injectable drug delivery are Amgen, Antares Pharma, Becton, and Dickinson and Company, Mylan, and SHL Group, among others.
This Future Market Insights (FMI) report examines the global injectable drug delivery market for the period 2018–2028. The primary objective of the report is to offer insights into market opportunity for the injectable drug delivery market.
The global injectable drug delivery market has seen substantial growth in the last decade. The market for injectable drug delivery is primarily driven by increasing prevalence of chronic diseases such as cancer, rheumatoid arthritis and diabetes. Other factors that drive the growth of the injectable drug delivery market include the need for patient-controlled delivery platforms and significant advancement in the technology. Increase in demand for point-of-care devices and the reduced dependence on healthcare provision are the other factors contributing to the growth of the injectable drug delivery market. However, stringent regulatory framework and high likelihood of premium pricing are some of the prime barriers in the growth of the injectable drug delivery market.
The Global Injectable Drug Delivery Market has been Segmented Based on:
The report analyses the global injectable drug delivery market in terms of value. The global injectable drug delivery market report begins with the injectable drug delivery market definition and explaining different products and technologies. The injectable drug delivery market view point section includes FMI’s analysis on key trends, drivers, restraints, opportunities, trends and macro factors influencing the global injectable drug delivery market. Some of the key inclusions of injectable drug delivery report are key manufacturers and their key developments, epidemiology data and PEST analysis.
The report analyses the injectable drug delivery market based on regions and presents the forecast in terms of value for the next 10 years. The regions covered in the report include:
Asia Pacific except Japan (APEJ)
Middle East and Africa (MEA)
Each of these sections analyse the regional injectable drug delivery market by product type, usage, distribution channel and country. The regional introductory section provides a snapshot of the regional and segmental injectable drug delivery market shares. The intensity map of the drivers and restrains in every region helps to analyse the effective regional drivers for the injectable drug delivery market.
When developing the injectable drug delivery market forecast, the starting point is sizing the current market, which forms the base for the forecast of how the injectable drug delivery market is expected to take shape in the near future. To arrive at the current market size, we have used company share analysis for the majority of the companies. The company share analysis was executed for each of the product types separately in order to arrive at the total market value. The analysis was further broken down to country level to arrive at the total regional market size of injectable drug delivery. Given the characteristics of injectable drug delivery market, we have triangulated the outcome based on different analysis based on supply side, demand side and GDP growth rate. However, quantifying the injectable drug delivery market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities, rather than rationalizing them after the forecast has been completed.
The following parameters are used to estimate the injectable drug delivery market size for the base year 2017:
Country level data for GDP and health care spending
Epidemiology of main indications of injectable drug delivery
Regional trends and opportunities
The forecast presented in the global injectable drug delivery market report provides total revenue of injectable drug delivery over 2018–2028. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global market.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and to access the key differentiators among the competitor firms. The market structure analysis provides tier-wise breakdown of total market revenue. The section also provides company share analysis for self-injectors market and the auto-injectors market separately. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to the market segments. Detailed profiles of players in the injectable drug delivery market are also provided in the report, which highlight company description, overview, product/segment overview, SWOT analysis, financial information, key developments related to market and strategic overview.
The next section of the global injectable drug delivery market report analyses the injectable drug delivery market based on product type and presents the forecast in terms of value for the next 10 years. The injectable drug delivery types covered in the report include:
The next section of report analyses the market based on usage of injectable drug delivery products and provides forecast in terms of value for the next 10 years. The usages covered in this report include:
The next section of report analyses the market based on distribution channel of injectable drug delivery products and provides forecast in terms of value for the next 10 years. The distribution channels covered in this report include:
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the products. To understand the key growth segments, Future Market Insights provides the ‘Attractiveness Index’ analysis, which helps to identify real market opportunities.