Injectable Drug Delivery Devices Market Size, Share, Industry Trends and Forecast to 2030

Injectable Drug Delivery Devices Market Size & CAGR in 2021

The global market for Injectable Drug Delivery Devices is expected to have a growth rate of 5.72% CAGR from 2021 to 2026. The market size is projected to reach USD 42.5 billion by 2026.

COVID-19 Impact on the Injectable Drug Delivery Devices Market

The COVID-19 pandemic has had a significant impact on the Injectable Drug Delivery Devices market. The increased focus on vaccination programs and the need for efficient drug delivery systems have driven the demand for injectable devices. The market has experienced a surge in growth as pharmaceutical companies strive to develop and deliver vaccines and treatments for the virus.

Injectable Drug Delivery Devices Dynamics

The Injectable Drug Delivery Devices market is driven by factors such as the increasing prevalence of chronic diseases, advancements in drug delivery technology, and the growing demand for targeted and personalized therapies. The market is also influenced by factors such as the rise in the geriatric population and the increase in healthcare expenditure.

Segments and Related Analysis

By Type

The Injectable Drug Delivery Devices market is segmented based on type into conventional injectable devices and advanced injectable devices. The advanced injectable devices segment is expected to witness significant growth due to the increasing adoption of smart devices and wearable injectors.

By Application

The market is segmented by application into oncology, diabetes, autoimmune diseases, cardiovascular diseases, and others. The oncology segment is anticipated to dominate the market due to the rising incidence of cancer worldwide.

By Region Analysis

The Injectable Drug Delivery Devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest market share due to the presence of key market players and the high adoption of advanced healthcare technologies.

Key Market Players and Competitive Landscape

Some of the key players in the Injectable Drug Delivery Devices market include BD, Pfizer Inc., Gerresheimer AG, Novo Nordisk A/S, and Eli Lilly and Company. These companies are focusing on product innovation and strategic partnerships to maintain their market position.

Recent Happenings in the Injectable Drug Delivery Devices Market

In 2021, BD launched a new line of autoinjectors with advanced features for enhanced patient comfort. Pfizer Inc. collaborated with a leading healthcare organization to develop innovative injectable devices for drug delivery. Gerresheimer AG expanded its production capacity to meet the growing demand for injectable drug delivery devices. Novo Nordisk A/S introduced a new smart injector pen for diabetes management. Eli Lilly and Company announced a strategic partnership to develop next-generation injectable devices.