Global Subcutaneous Drug Delivery Devices Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
Global Subcutaneous Drug Delivery Devices Market Overview
"The Subcutaneous Drug Delivery Devices Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Subcutaneous drug delivery devices are specialized tools that are used to deliver a drug or therapeutic agent via a specific route of admission, in this case beneath the skin. Such devices are used as part of one or more medical treatments.
The growing prevalence of cardiovascular disease and diabetes, the growth of biological drug development, and more importantly, the increasing availability of advanced minimally invasive drug delivery devices are some of the primary factors that are expected to boost the revenue growth of the global subcutaneous drug delivery devices market over the next 10 years. Moreover, the increasing incidence of diabetes is expected to be much higher in emerging economies when compared to that in developed nations.
The increasing adoption of innovative products like needle-free injectors as effective substitutes to conventional drug delivery systems due to their lower treatment costs and the potential to be injured by needles are also factors that are slated to influence the future market growth of this global industry.
In light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global subcutaneous drug delivery industry is no different, and this factor is expected to negatively impact market growth in the years to come.
Nonetheless, increasing investments being made by key industry players towards future research activities to develop technologically advanced products is a factor that is anticipated to fuel the revenue growth of the global subcutaneous drug delivery devices market over the next decade.
Segmentation of the global subcutaneous drug delivery market is as follows:
In terms of product, the pen injectors segment accounted for the maximum number of revenue shares of the global subcutaneous drug delivery devices market in 2020 and is indicative of indexing a high CAGR in the years to come. This can be attributed to its lower price, easy product design, as well as increasing social acceptance and adoption of these devices. However, the wearable injectors segment is slated to index the highest CAGR over the next 10 years.
With respect to distribution channels, the retail pharmacies segment accounted for the maximum number of revenue shares in 2020 and is slated to index considerable revenue growth over the next 10 years. The online pharmacies segment is anticipated to register the fastest rate of revenue growth due to a higher number of value-added benefits being offered to its consumers.
Regional Segmentation and Analysis:
North America accounted for the highest number of revenue shares of the global subcutaneous drug delivery market in 2020 and is slated to continue doing so over the forecast period. This can be attributed to its existing developed healthcare infrastructure, as well as the large presence of key industry players in this region. The markets in the Asia Pacific region are also slated to index considerable revenue growth in the years to come owing to the steady increase in the number of diabetic patients in this region.
Segmentation of the Global Subcutaneous Drug Delivery Devices Market:
Segmentation by Product:
- Prefilled syringes
- Pen injectors
- Wearable injectors
- Needle-free Injectors
Segmentation by Distribution Channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
Segmentation by Regions:
- North America
- South America
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Gerresheimer AG
- Medtronic Plc
- Ypsomed AG
- Elcam Medical Group
- Novo Nordisk A/S
- Insulet Corporation
- Becton, Dickinson and Company
- West Pharmaceutical Services Inc.
- PharmaJet Inc.
- Unilife Corporation
- Inolife Sciences Inc.
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