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, 2020-2032

The global injectable drug delivery market size was valued at USD 483.5 billion in 2019 and is projected to reach USD 2,651.3 billion by 2032, exhibiting a CAGR of 13.1% during the forecast period (2020-2032). North America market size was worth USD 172.67 Billion in 2019, with a share of 35.71% in 2019.

Initially, tablets, pills, or capsules were only forms of medication, but nowadays, drugs are delivered using technologically advanced and smarter systems. These systems aim at delivering drugs to the target site allowing it to be more localized that would otherwise be difficult to reach the blood system. Patients who rely on medicines daily, prefer advanced procedure over the conventional injection devices. Considering this, the rising demand for effective and convenient systems for drug delivery is thereby, posing a lucrative opportunity for the manufacturers to develop sophisticated, consumer-friendly, and effective devices. Recent developments in the needle-free injector market include pre-filled syringes, auto-injectors, pen-injectors, and wearable. Pre-filled syringes are the fastest growing segment and are anticipated to hold the highest market share by 2027. Moreover, increasing prevalence of diseases such as diabetes, cancers, autoimmune disorders, and others is likely to boost the market during the forecast period. According to Worldometer, the prevalence of coronavirus pandemic, as of June 2020 was around 1 million, thus causing high demand for conventional injections.

COVID-19 Outbreak to Create Significant Opportunities

The COVID-19 pandemic has exerted positive as well as unfavorable impact on the healthcare industry. Hospital systems are overburden due to the rising COVID-19 patient population, which is imposing pressure on the availability of medical supplies for each patient and the hospital. Owing to the growing demand for medical supplies such as injections, pre-filled syringes, and others have raised the production capacity of the manufacturers to meet the demand-supply balance. For instance, SHL group in response to COVID-19 outbreak stated that the manufacturing plant has not been impacted and is working full-fledged by imposing preventive measures and maintaining good manufacturing practices guidelines.

Moreover, advanced technologies such as smart wearables have emerged as an innovation by helping in the early detection of COVID-19 patients. Many manufacturers have begun assessing the algorithms, that is to assist the identification of coughing or general respiratory activity and reducing the pressure on hospitals. For example, the new Fitbit, launched in May 2020 is a wearable that develops a potential algorithm for detecting COVID cases.

Though COVID-19 pandemic has impacted the supply chain of certain injectable drug delivery systems, it has helped in generating immense opportunities for the R&D segment. Also, government support in developing such technologies is anticipated to boost the global market for injectable drug during the forecast period. For instance, according to the latest news, Singapore government is likely to start distributing wearable device to help people slow down the spread of COVID.

LATEST TRENDS

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Strong M&A Activities to Contribute New Products, Sufficing to Increasing Product Demand

As the COVID-19 has caused awareness among people about hygiene and safety, various pharmaceutical companies have started revising their packaging and sterilization suppliers in order to update their offerings. In January 2020, Catalent and Bristol-Myers Squibb’s announced a merger agreement with an aim to provide sterile product manufacturing and packaging. This is likely to provide customers access to sterile products and packaging amidst the outbreak. Additionally, in November 2019, West Pharmaceuticals Services and SCHOTT entered a partnership agreement to provide access to convenient, easy-to-use, high-quality, and sterile packed injectable drug delivery systems. Therefore, potential M&A strategies are likely to deliver high-end products subsequently increasing its demand in the market.

DRIVING FACTORS

Rising Patient Interest from Vial-and-syringe to Ready-to-use (pre-filled), Reusable Syringes and Devices to Augment Growth

Traditional vial-and-syringe drug delivery format is prone to dosing and handling errors, and have a high risk of infections. Alternatively, this can be minimized by using pre-filled syringes and reusable glass syringes as they are a safe and highly effective mode of drug delivery to the body. Growing patient awareness and interest for convenient & minimal invasive mode of injectable drug delivery is responsible for fueling the global market growth. Additionally, the introduction of low cost systems owing to its effectiveness, on-target delivery, and convenience offered is driving the global injectable drug delivery market growth. Furthermore, the rapid development of healthcare infrastructure and growing innovations for bringing up novel drug delivery systems, are anticipated to boost the product sales, thereby aiding to the expansion of the market during the forecast period.

Constant R&D to Launch Innovative Products to Shift Patient Preference towards Wearable

Technological developments have a huge impact on the drug delivery industry. For instance, in March 2020, Lexaria Bioscience announced to start the investigation of its Dehydra Tech drug delivery technology to fight against COVID-19. Additionally, in October 2019 Mitsubishi announced the update of OXYCAPT, a multilayer plastic vial and syringe which enables multiple properties such as excellent oxygen barrier, UV barrier, and others. Hence, growing investment in R&D and the introduction of advanced products by players are expected to promote the growth of the market. Moreover, rise in adoption of wearable, pen injectors, needle-free injectors for the management of infectious and chronic diseases worldwide will leverage the market potential during the forecast period.

RESTRAINING FACTORS

High Cost Associated with Devices and Active Therapies to Limit Market Adoption

Despite the higher prevalence of chronic diseases such as hormonal and autoimmune disorders globally, certain factors are limiting the growth of the market. This includes the high cost of advanced injectable products and limited reimbursement for these products in emerging countries. According to a press release by Sandoz, the generic Epinephrine injection Sympjepi launched in July has a retail cost of around USD 250. The cost of treatment for diseases such as Type I diabetes are higher though there is continuous use of the advanced devices such as pen injectors, auto injectors and wearable.

Additionally, the lack of adequate reimbursement policies especially in emerging countries has limited the adoption of products and devices. A significant proportion of the overall cost of treatment in emerging countries is out-of-pocket cost, and this, further limits the uptake of advanced devices for the treatment of chronic diseases. Considering the above factors, people in these regions prefer traditional injectable products than advanced ones, which stand as a major challenge to the market.

SEGMENTATION

By Device Type Analysis

Higher Sales of Conventional Injectable to Propel at Faster Pace during 2020-2027

Based on device type, the global market segments include conventional injectable, pre-filled syringes, auto-injectors, pen-injectors, and wearable. The conventional injectable segment dominated the global market in 2019 attributed to higher sales of traditional syringes due to increase in hospitalization, growing prevalence of infectious disease that require hospital assistance, and rising number of surgeries in the world. Additionally, the increasing number of immunization programs worldwide will also support the growth of this segment. For instance, in December 2019, under the Indradhanush program, India launched a nationwide vaccination to fight against 8 diseases mainly diphtheria, whooping cough, tetanus, measles, and others.

By Product Type Analysis

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Injectable Sterile Products Segment Dominated the Market in 2019

Based on product type, the market is segmented into freeze-dried products and injectable sterile products. The injectable sterile products segment is holding the dominant position owing to its quality assurance and storability property. Sterile products are generally preferred in hospitals and clinics by surgeons during surgeries and treating complex diseases. The injectable sterile are pathogen free and thus pose lower risk of infections, thereby aiding to the expansion of this segment in the market.

But, the freeze-dried products segment is anticipated to grow at a faster pace during the forecast period. The innovative product type has been extensively preferred to improve the bioavailability of the drug to be injected and patient compliance. Demand for freeze-dried products is likely to increase due to its advantage of delivering stabilized formulations.

By End User Analysis

Adoption of Advanced Products to Attract High Growth of Homecare Settings

In terms of end-user, the market is segmented into hospitals, clinics, home care settings, and others. The hospitals segment is expected to have a dominant injectable drug delivery market share during the forecast period. This dominance is due to an increase in hospital stays of patients suffering from chronic or acute wounds. The clinics segment is expected to grow at a significant CAGR during the forecast period due to the increase in the number of stand-alone clinics in both developed and emerging countries. During these unprecedented times of COVID-19, home healthcare is one of the best services available at your doorstep. Besides, the home care settings segment is expected to register a significant growth by the end of the forecast period owing to the rising shift of preference among patients from hospital to home care settings.

REGIONAL INSIGHTS

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The market size in North America stood at USD 172.67 billion in 2019. Higher adoption of innovative injectable drug delivery technologies among diabetes, cancer and, other autoimmune disorder patients in North America is a key factor promoting the regional market growth. In addition to this, their convenience and therapeutic benefits of these injectable is propelling its demand thereby helping North America earn the highest share in the global market. Higher prevalence of diabetes and cancer patients in the U.S also contributes to the growth of the market in North America. According to the American Diabetes Association (ADA), approximately 30.3 million Americans were diagnosed with diabetes in 2018. Additionally, the presence of major manufacturers in the region is expected to contribute to the development of innovative injectable drug delivery devices such as smart wearable and auto-injectors which is anticipated to add impetus to the market during the forecast period.

The market in Asia Pacific is projected to register a higher CAGR during the forecast period owing to the growing awareness about these delivery systems, rising patient pool, and shift from conventional drug delivery injectable to ready-to-use injectable. Latin America and the Middle East & Africa accounted for a smaller market potential in 2019.

KEY INDUSTRY PLAYERS

Strong Product Portfolio of Key Players to Intensify Competition

The competitive landscape of this market is consolidated in nature owing to strong product portfolio and remarkable distribution network of major companies in both developed and emerging countries. Currently, BD, SHL Medical AG, and Insulet Corporation are leading the market, accounting for a dominant share in 2019. However, the lack of strong entry barriers is projected to lead an increasing number of domestic players entering the global market. This is likely to change the nature of the market to slightly fragmented market by the end of 2027. For instance, in June 2020, Daiichi Sankyo announced to develop Nafamostat inhalation therapy against COVID-19 that followed conventional delivery system for the delivery of the drug.

Other key market players such as Elcam Medical, Pfizer Inc., Eli Lilly and Company, West Pharmaceutical Services, Inc., Ypsomed AG, and Gerresheimer AG have entered the competition with novel advanced injectable drug delivery products. Introduction of innovative products such as advanced wearable, NPWT, and huge investment in development of novel technologies such as bluetooth equipped wearable for treatment of diseases are some of the major strategies adopted by market players.

LIST OF KEY COMPANIES PROFILED:

• BD (New Jersey, U.S)


• SHL Medical AG (Switzerland, Europe)


• Schott AG (Germany, Europe)


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


• Pfizer Inc. (New York, U.S)


• Insulet Corporation (Massachusetts, U.S)


• Elcam Medical (Israel, Middle East)


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


• Ypsomed AG (Switzerland, Europe)


• Gerresheimer AG (Germany, Europe)


• Baxter International Inc (Illinois, U.S)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• March 2020 – Becton, Dickinson and Company (BD) announced that they have successfully completed their 50-subject human clinical trial for their investigational device, BD Libertas Wearable Injector.


• April 2020 – TEVA Pharmaceuticals USA, Inc. announced that they have commercially launched AJOVY auto injector in the U.S. region. This device is intended towards the preventive treatment of migraine in adults.


• October 2019 – Becton, Dickinson and Company (BD) announced that they have launched a new 2- step disposable auto injector, BD Intevia. This platform device is a combination of auto injector and pre-fillable syringe in one integrated system and was launched during the Parental Drug Association 2019 Universe of Pre-Filled Syringes and Injection Devices conference.


• September 2019 – Hikma Pharmaceuticals PLC announced the launch of their new pre-fillable syringes in U.S. region. The new syringe launched is Heparin Sodium Injection, USP 5000 Units/mL. This launch took place through their affiliate, Hikma Pharmaceuticals USA Inc.

REPORT COVERAGE

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The injectable drug delivery market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market, current trends, and highlights the key industry developments. In addition to the aforementioned factors, the report encompasses major factors that have contributed to the growth of the advanced market over the recent years.

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