Global Subcutaneous Drug Delivery Market, By Usability (Disposable, and Reusable), By Disease Indication(Auto-immune Disorders, Neurological Disorders, Oncology Disorders, Hormonal Disorders, Allergy & Infectious Disorders, Ophthalmic Disorders, and Others, By Delivery System(Prefilled Syringes, Autoinjector, Pen Injectors, Disposable, and others)By Distribution Channel ( Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 11.88 billion in 2023 and is expected to exhibit a CAGR of 9.7% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing inorganic strategies such as product launches by the key market players is expected to drive the market growth over the forecast period. For instance, in August 2022, Insulet Corporation, a medical device company, launched Omnipod 5 Automated Insulin Delivery (AID) System for type 1 diabetes up to six years aged and older.
Global Subcutaneous Drug Delivery Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Most industries across the world have been negatively impacted over the last 18 months. This can be attributed to significant disruptions experienced by their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns, as well as other restrictions that were enforced by governing authorities across the globe.
The stockpiling of subcutaneous or oral formulations due to the lockdown may cause a spike in demand for certain products. According to an article published in the Center for Biosimilars (American Journal of Managed Care), on February 27, 2020, manufacturers such as Novartis AG who have manufacturing facilities in Austria, Europe, are particularly at risk on the supply side.
These above elements are expected to burden the revenue trajectory of the global subcutaneous drug delivery market over the forecast timeline.
Global Subcutaneous Drug Delivery Market: Key Developments
Increasing collaboration for research and development drug delivery system.
For Instance, on January 24, 2023, Stevanato Group S.p.A, a global provider of drug containment and delivery solutions to the pharmaceutical, biotechnology, and life sciences industries, announced a collaboration with Transcoject GmbH, a medical device and pharma packaging solutions company. The collaboration will enable Stevanato Group to expand its current offering of solutions by including cyclic olefin polymer (COP) and cyclic olefin copolymer (COC) in the pre-filled syringes.
On February 22, 2023, Zed Ltd, a manufacturing company, announced it received CE mark approval in Europe for its InsulCheck Dose add-on device. It automatically captures the dose value dialed, injection event time stamps, and temperature. The device also captures mounting and unmounting events.
Browse 22 Market Data Tables and 18 Figures spread through 178 Pages and in-depth TOC on “Global Subcutaneous Drug Delivery Market”- Forecast to 2030 By Usability (Disposable, and Reusable), By Disease Indication(Auto-immune Disorders, Neurological Disorders, Oncology Disorders, Hormonal Disorders, Allergy & Infectious Disorders, Ophthalmic Disorders and Others, By Delivery System(Prefilled Syringes, Autoinjector, Pen Injectors, Disposable, and others)By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/subcutaneous-drug-delivery-market-2933
Key Takeaways of the Global Subcutaneous Drug Delivery Market:
- Increasing healthcare expenditure and the emergence of biologics & biosimilars is expected to drive the market growth. For instance, on February 21, 2023, according to the European Union (EU), France (12.2%) and Germany (12.8%) had the greatest healthcare expenditure relative to Gross domestic product (GDP) in 2020, among EU Member States. Furthermore, the presence of a favorable regulatory environment and reimbursement policies are expected to increase the pharmaceutical product demand which leads to the expansion of the global subcutaneous drug delivery market.
- Among regions, North America is expected to hold a dominant position in the global neuroscience market, owing to increasing collaboration for technological advancement by key market players, to expand their product portfolio and strengthen their market presence. For instance, in May 2022, Owen Mumford, a medical device company, announced an exclusive agreement with Stevanato Group, an multinational company for the Aidaptus auto-injector providing a full set of capabilities to its pharmaceutical customers.
- Major players operating in the global neuroscience market include Becton Dickinson and Company, Novo Nordisk A/S, Johnson & Johnson, Inc., Novartis International AG, Amgen, Inc., Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche AG, Consort Medical plc, Eli Lilly and Company, Merck & Co., Inc., Insulet Corporation, West Pharmaceutical Services, Inc, and Gerresheimer AG.
