Injectable Drug Delivery Devices Industry Analysis Sees North America Lead: TBRC

LONDON, Feb. 22, 2022 /PRNewswire/ -- North America has the largest injectable drug delivery devices market share, accounting for 38.4% of the global market in 2021. It is followed by Western Europe, Asia Pacific and the other regions. Going forward, the fastest growing regions in the injectable drug delivery devices market will be South America and the Africa, where growth will be at CAGRs of 12.2% and 11.9% respectively from 2021-2026.

The drug delivery device market in North America is supported by the aging population, innovations in injectable drug delivery devices, rising prevalence of diabetes in the U.S. and Canada, improving patient compliance, rise in partnerships, collaborations and acquisitions among prominent players in this market. The number of adults aged 65 and older is expected to increase over the next five years, which strengthens the demand for medical devices including drug delivery devices in the country. The government expenditure on healthcare will increase owing to the spread of contagious viral infections such as the Coronavirus infection, which has affected the mass population.

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Large Numbers Of Clinical Trials Propel Injectable Drug Delivery Devices Market Growth

The large numbers of injectable drugs and vaccines in clinical trials are projected to propel the demand for the injectable drug delivery devices market in the coming years. Clinical trials are performed to test medical interventions including vaccines, drugs, biological products, radiological procedures, surgical procedures, medical devices, and preventive care. While conducting clinical trials, effective drug delivery devices are required to deliver drugs to patients

Global Injectable Drug Delivery Devices Market Size And Forecast

The global injectable drug delivery devices market growth in 2021 was mainly due to companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach about $54 billion in 2026 at a compound annual growth rate of 8.1%. The global injectable drug delivery devices market size is then expected to grow at a CAGR of 6.1% from 2026 and reach $72 billion by 2031.

Top Opportunities In The Injectable Drug Delivery Devices Industry

As per TBRC's global injectable drug delivery devices market report, the top growth potential in the market by type will arise in the injectors market, which will gain $10.83 billion of global annual sales by 2026. The top growth potential in the injectable drug delivery devices market by application will arise in the 'other applications' market, which will gain $4.73 billion of global annual sales by 2026; by end user will arise in hospitals and clinics market, which will gain $6.80 billion of global annual sales by 2026. The injectable drug delivery devices market size will gain the most in the USA at $5.43 billion.

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