A study by the American Diabetes Association (ADA) has found that around 30.3 million people in the U.S. were diagnosed with diabetes. The rising prevalence of chronic diseases such as diabetes, cancer, and others is boosting the global injectable drug delivery market. Fortune Business Insights in a report, titled “INJECTABLE DRUG DELIVERY: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026” predicts the global market to rise at a remarkable CAGR of 12.8% during the forecast period. The global market was worth US$ 440.5 Bn in 2018, and by the end of 2026, the market is anticipated to reach US$ 1,135.1 Bn.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/injectable-drug-delivery-market-101044
List of players leading the global Injectable Drug Delivery Market include:
- SHL Group AB
- Insulet Corporation
- Eli Lilly and Company
- Elcam Medical
- Ypsomed AG
- West Pharmaceutical Services
- Gerresheimer AG
Introduction of Novel Injectable Drug Delivery to Propel Growth in North America
Currently, the market in North America is exhibiting the highest CAGR owing to the rapid adoption of advanced and innovative injectable drug delivery. Moreover, injectable drug users are increasing as these devices are preferred owing to their therapeutic and convenience benefits. The amplified prevalence of chronic disorders such as cancer, diabetes, and others is driving the injectable drug delivery market size in North America.
As per the National Cancer Institute, around 1,735,350 cancer cases were registered in the U.S. With the help of an injectable device; chemotherapy drugs are delivered to cancer patients with ease. Another factor responsible for injectable drug delivery growth is the presence of major manufacturers in North America. This further increases the adoption of injectable drug delivery systems.
These manufacturers are planning to develop innovative drug delivery such as auto-injectors, smart wearables, among others in the years to come. Against this backdrop, the market is likely to grow in the forecast period in North America. As per the report, the market was valued at US$ 156.8 Bn in the year 2018.
BD Leads the Market Owing to its Vast Product Portfolio
Among key players, Becton Dickinson boasts an innovative and vast product portfolio which includes pen-injectors, auto-injectors, and others. The company is leading in the global injectable drug delivery market, mainly on account of its global presence.
Other companies are focusing on product innovations to expand their market shares. The key players profiled in the report are SHL Group, BD, Insulet Corporation, Pfizer Inc., Eli Lilly and Company, Elcam Medical, Ypsomed AG, West Pharmaceutical Services, Inc., and Gerresheimer AG. Of these, BD, SHL, and Insulet Corporation hold the maximum share in the global market. The strong presence of these companies will surge the injectable drug delivery revenue in the forecast years. Some of the notable industry developments made by companies which will help the market to grow are:
- West Pharmaceutical Services, Inc., launched a new extension of SMARTDOSE drug delivery platform in November 2017.
- AbbVie Inc. and Eisai Co., Ltd., together announced the launch of an auto-injector device in June 2018. This device is for Humira drug for the treatment of autoimmune diseases.
- EVER NEURO PHARMA GMBH launched D-MINE pump for patients suffering from Parkinson’s disease in July 2019. The device is convenient to use and aims to provide continuous subcutaneous drug delivery.
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