The globe Injectable Drugs Market is forecast to reach US$41.5 billion in 2022 and is projected to grow at a CAGR of 8.9% over the period 2022-2028 to reach US$69.13 billion by the end of 2028. Based on product type, the needle-free injectable drug delivery segment dominated the global injectable drug delivery market in 2017. Furthermore, the sub-type, the pre-filled needle-free injector segment, is expected to have a dominant share in the needle-free type of injectable drug delivery market due to its ease of use. North America is expected to maintain its dominance in the global injectable drug delivery market due to the presence of a large number of injectable drug delivery device manufacturers operating primarily out of the United States
The increase in the prevalence of chronic diseases such as diabetes, cancer, and rheumatoid arthritis, along with other factors such as the need for patient-controlled drug delivery and an increased risk of needlestick injuries are the key factors expected to drive the growth of the injectable drug delivery market. Technological advances have resulted in better product offerings in the injectable drug delivery market. However, some factors such as strict regulatory environment and premium prices of products are expected to hamper the growth of injectable drug delivery market. The main trend in the injectable drug delivery market is the increasing demand for point-of-care devices. Injectable drug delivery devices are easy to self-administer and do not require a physician for administration, as a result skipping the need for hospital visits and relatively reducing an individual’s healthcare expense.
The global injectable drug delivery market has been segmented on the basis of product type, usage, end users, and regions. The single-use injectable drug delivery segment is expected to be the most attractive application segment. Among the three end-users, the hospital pharmacies are expected to increase due to advantages such as cheap…
