Global Subcutaneous Drug Delivery Devices Market Overview
The key driver impacting the subcutaneous drug delivery devices market is the growing prevalence of Cardiovascular Diseases (CVD) and diabetes with a surge in biological drug development. for instance, the World Health Organization reports, the cardiovascular diseases (CVDs) are considered as the number 1 cause of death worldwide and it affects 17.9 million lives every year. CVDs refer to the group of heart and blood vessel disorders and include cerebrovascular disease, rheumatic heart disease, coronary heart disease, and other conditions. as per the World Health Organization, in 2016, there are around 1.6 million deaths due to diabetes. according to the International Diabetic Federation (IDF), in 2019, approximately 463 million adults (20-79 years) were living with diabetes, and it is estimated to reach 700 million by 2045. Moreover, the high availability of advanced minimally invasive drug delivery such as auto-injectors, pen injectors, and prefilled syringes is estimated to be a significant factor contributing to market growth.
According to Value Market Research, the global subcutaneous drug delivery devices market size was valued at around USD 23500 million in 2020 and is estimated to grow at a CAGR of about 10% during the forecast period of 2021 to 2027.
The increasing adoption of subcutaneous drug delivery devices over intravenous administration due to its various advantages is estimated to augment subcutaneous drug delivery devices' demand in the forecast period—various benefits such as minimizing dosage errors and preventing needlestick injuries. also, higher treatment adherence is observed in patients with devices having easy drug administration protocols with no need for skilled personnel for drug administration, facilitate at-home drug delivery, and reduce patient time at healthcare facilities. however, the high cost of advanced delivery systems may hamper the global subcutaneous drug delivery devices market in the long run. also, the dearth of awareness in developing countries negatively impacts the market growth in the forecast period. the current industry trends, such as the rising trend of self-medication, expanding biosimilars market, and high production of biologics, are expected to provide market players with new market opportunities.
The subcutaneous drug delivery devices market is vast, with many local and global players. the key leaders follow different strategies to advance their market position, such as contracts, amalgamation, getting drug delivery devices license from regulatory authorities(FDA), extending product portfolio, acquisitions, and product upgrades to raise their market share across the globe. For instance, In June 2018, Insulet Corporation had received the U.S. FDA approval for the Omnipod DASH insulin management system. These digital platforms allow enhanced patient outcomes in diabetic patients. The major players in the report are Gerresheimer AG, Becton, Ypsomed AG, Becton, Novo Nordisk, Dickinson and Company, Elcam Medical Group, Medtronic Plc, Insulet Corporation, Becton, West Pharmaceutical Services, Inc., Inolife Sciences, PharmaJet, and Unilife Corporation.
In this research report, the subcutaneous drug delivery devices market is segmented by product, distribution channel, and region.
Analysis by Product:
By product type, the report is categorized into prefilled syringes, pen injectors, auto-injectors, wearable injectors, and needle-free injectors. The pen injectors segment dominates the product type segment with over 38% share in 2020. The high adoption of pen injectors due to the advantages it provides such as better patient satisfaction and adherence, superior ease of use, and greater dosing accuracy. Moreover, the growing product approvals, easy product design, affordability, and high social acceptance driving demand for pen injectors in the forecast period.
Analysis by Distribution Channel:
By distribution channel, the report is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment dominates the distribution channel segment with over 45% share in 2020. It is due to the increasing self-administration, patient awareness, and growing focus on positive medical outcomes. Moreover, the manufacturers are launching programs to enable uninterrupted access to insulin for uninsured patients, contribute to the high market demand from distribution channels in the forecast period.
Analysis by Region:
In the regional outlook of the global subcutaneous drug delivery devices market, the North America region dominates with a 44% market share during the forecast period. It is due to the high prevalence of chronic disease conditions such as multiple sclerosis, cardiovascular diseases, diabetes, and arthritis across the United States and Canada. Also, the developed healthcare infrastructure and the high adoption rate add growth to the subcutaneous drug delivery devices market. Moreover, the local presence of major players and continuous strategic initiatives implemented to maintain their market share with approval of drug delivery devices by the U.S. Food and Drugs Administration (FDA) contribute to the development of the subcutaneous drug delivery devices market in North America.
Market Segmentation covered in the Report:
By Distribution Channel
- Prefilled syringes
- Pen injectors
- Wearable injectors
- Needle-free Injectors
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.