According to Report, the global subcutaneous drug delivery devices market size is estimated to reach US$ 51.99 billion by 2029 and expanding growth at a CAGR of 9.3% from 2021 to 2030.
According to Report, the global subcutaneous drug delivery devices market size is estimated to reach US$ 51.99 billion by 2029 and expanding growth at a CAGR of 9.3% from 2021 to 2030.
Subcutaneous drug delivery devices are widely preferred among consumer across the globe. In addition, due to its significant benefits such as flexibility across anatomical infusion site which reduce pain during infusion. Smaller needle sizes are opted for such devices so that the drugs can be easily impart in the body. In addition, another major factor which creates the demand in the subcutaneous drug delivery device market is that hugely effective when a person is administrated with vaccines, growth hormones as well as insulin.
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According to world health organization, there is surge in number of diabetic patients, coming to the data over 422 million people across the globe are impacted by diabetic who are residing in developing as well as under developed countries. Also, another data presented by world health organization that over 1.5 deaths are reported globally which occurs due to diabetics. Hence requirement for subcutaneous drug delivery devices such as injection to impart the dose of insulin are needed to maintain the sugar level.
Sustained rate of absorption provided by subcutaneous drug delivery device facilitate the process of imparting dose in the body. Such process helps in reducing serious complication as well as various infection which could deteriorate the body in a long run. Moreover, such device strongly preferred by patients who are quite sensitive while injecting devices or vulnerable to infections. Another factor which is contributing towards the significant growth in the subcutaneous drug delivery market is availability of low-cost devices. Hence affordable prices in this market easily captures the developing nations such as China, India, Sri Lanka, Thailand as well as Bangladesh as well as under developed nation such as Somalia, South Sudan, Mali as well as Burundi.
However, less blood flow through subcutaneous drug delivery devices such as patch pumps, auto injection as well as injection pens results in slow absorption of drugs. In addition, such device carries limited amount in device which is also one of the hindrances in the market. Furthermore, lack of approved product in the subcutaneous drug delivery device market raises the concern for safety in the products among consumers such factors are restraints in this market.
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Report Highlights-
The report is segmented into four categories such as technology, distributional channel, syringe type as well as region. Based on technology the subcutaneous drug delivery device is categorized in pens, syringes, patches as well as others. Syringe is dominating this segment due to its controlling capacity of pressure which ultimately control the flow of drugs while injecting in the body. In addition, numerous syringe pump can reach maximum usability by switching different syringes. Such convenient option for consumers creates demand to foster growth in the market.
Based on syringe type, the subcutaneous drug delivery device is categorized into fillable injectable as well as prefilled injectable. Due to its ease of use as well as exact dose fillable injectable dominate the segment.
Based on distribution channel, the subcutaneous drug delivery device is segregated into retail pharmacies, hospital pharmacies as well as online pharmacies. Hospital pharmacies segment are widely in the market because it has variety of products which provides lots of options for consumers
Based on region, the report in categorized into North America, Europe, Asia-Pacific and other region of the world Based on the region the report is categorized into North America, Europe, Asia-Pacific and Other region of the world. Regional dominance on the market is due to North America North America contributing highest share in the market owing to well medical infrastructure across the region and well-developed countries like U.S. Also, the advancement of medical technology is well established in the North American region. Moreover, Asia-Pacific region is likely to have significant demand in this market due to rising awareness among in developing countries.
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Future of the market-
Huge expansion of subcutaneous drug delivery devices has been in coming year as various investments are expected to boost the market. In addition, players such as Dickinson and Company, Novo Nordisk, Becton, Inolife Sciences as well as PharmaJet are coming up new innovative idea to enhance the injecting process in the market to generate significant revenue.
Development in the market place-
August 25, 2020 Sulzer acquired Haselmeier drug delivery company which marketed its products such as self-injection pens to increase expand its footprint in drug delivery market.
June 3, 2019 Enable Injections who is known for various wearable infusion devices partnered with Sanofi to established long term manufacturing as well as supply arrangement so that the various patient centric solutions are conveniently reachable to the customers.
Market Segmentation
By Product Type
- Auto-Injectors
- Pen Injectors
- Prefilled Syringes
- Wearable Injectors
- Needle-Free Injectors
By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
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