Subcutaneous Drug Delivery Devices Market Technological Advancements and Increasing Product Launches
The subcutaneous drug delivery devices market is expected to reach US$ 17,290.47 Mn in 2027 from US$ 9,243.80 in 2018. The market is estimated to grow with a CAGR of 7.4% from 2019-2027.
The increased number of chronic disease prevalence around the globe, significant number of vaccination and immunization programs that incorporate the use of subcutaneous drug delivery devices for therapeutic administration, rise in the research and development of new products leading to the subsequent introduction of novel solutions and devices in the market are expected to account for the growth of the market. However, risk of infections and other diseases associated with the use of injections and syringes is likely to hamper the market growth.
The advancement in the field of the healthcare industry is driving to the players for more research and developments for the subcutaneous drug delivery devices for the administration purpose required during various medical conditions. Various manufacturers are coming up with innovative products to sustain in the highly fragmented global market. Moreover, the easy regulatory approvals in the Asian countries has led to mid-sized companies enter the market and compete with the local and established players.
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Key findings from the report
- The global subcutaneous drug delivery devices market, based on the syringe type was segmented into fillable injectable and prefilled injectable.
- In 2018, the fillable injectable held a largest market share of the subcutaneous drug delivery devices market, by syringe type. However, the prefilled injectable segment is expected to witness the highest CAGR over the coming years.
- The use of prefilled injectable devices such as syringes have expanded and overcame the traditional drug delivery approaches. Moreover, these syringes have been utilized across multiple therapeutic sectors including blood stimulants, vaccines, therapeutic protein, hormones, drugs, supplements, nutraceuticals and others.
- Some of the organic and inorganic growth activities are undertaken by the company, which have promoted the market growth. The companies have utilized strategies such as product launches, product approvals the growth of companies which is further expected to enhance the growth of the market during the coming years. For instance, in June 2018, Insulet received FDA 510(k) clearance for the Omnipod DASHTM Insulin Management System (Omnipod DASH). This clearance set up the foundation for a stable pace of innovation that enables Insulet to allow users to enjoy simplicity, healthier lives, and freedom swith their differentiated technology.
- Some of the prominent players operating in the subcutaneous drug delivery devices market are Insulet Corporation, BD, Enable Injections, Consort Medical Plc, West Pharmaceutical Services, Inc., Elcam Medical, Amgen, Ypsomed AG, SCPharmaceuticals, Inc., Wilhelm Haselmeier GmbH & Co. KG, among others.
The advancement in the field of the healthcare industry is driving to the players for more research and developments for the subcutaneous drug delivery devices for the administration purpose required during various medical conditions. Various manufacturers are coming up with innovative products to sustain in the highly fragmented global market. Moreover, the easy regulatory approvals in the Asian countries has led to mid-sized companies enter the market and compete with the local and established players. In April 2016, Emperra GmbH launched a new Bluetooth insulin pen model. The new ESYSTA BT pen is equipped with a Bluetooth interface and transfers the injected insulin doses directly to the patient’s digital blood glucose diary. Moreover, in January 2018, Hisamitsu Pharmaceutical Co., Inc. received approval for manufacturing and marketing for a transdermal drug product for the treatment of allergic rhinitis, ALLESAGA TAPE 4 mg and ALLESAGA TAPE 8 mg in Japan. Thus, owing to rising number of novel product launches and approvals, the subcutaneous drug delivery devices market is expected to witness rapid growth.
For the purpose of this report, Reports and Data has segmented the global subcutaneous drug delivery devices market on the basis of type, product, platform, end user, and region:
Global Subcutaneous Drug Delivery Devices Market – By Technology
Global Subcutaneous Drug Delivery Devices Market – By Syringe Type
- Prefilled Injectable
- Filled Injectable
Global Subcutaneous Drug Delivery Devices Market – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Subcutaneous Drug Delivery Devices Market – By Region
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South America (SAM)
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