Reports and Insights has published a new report titled, “Subcutaneous Drug Delivery Market: Opportunity Analysis and Future Assessment 2022-2030”
Subcutaneous Drug Delivery Market, By Product Type (Fillable Injectable, Prefilled Injectable), By Usability (Disposable, Reusable), By Technology (Jet, Spring, Gas), By Disease Indication (Auto-immune Disorders, Neurological Disorders, Oncology Disorders, Hormonal Disorders, Allergy & Infectious Disorders, Ophthalmic Disorders, Others), By Delivery Type (Prefilled Syringe, Auto-injector, Spring Type, Motorized Type, Wearable Type, Prefilled Pen, Vial (Syringe), Pump, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The subcutaneous drug delivery market is estimated to reach at a value of US$ 11,743.0 Mn by the end of 2022 and expected to reach at a value of US$ 23,773.7 Mn by 2030 with a significant CAGR of 9.2%.
The subcutaneous drug delivery market is gaining immense popularity as a promising and feasible alternative to the intravenous administration. The subcutaneous drugs are generally injected in the cutis layer of the skin that is included in the epidermis as well as dermis layer of the skin. These are highly beneficial in administering vaccines as well as medications such as, insulin, morphine, diacetylmorphine and goserelin. Various different medications are manufacturing in the pharmaceutical industries that make use of the administration by the subcutaneous routes. Thus, increasing the growth of the subcutaneous drug delivery market.
One of the primary drivers which is positively driving the subcutaneous drug delivery market is the increasing prevalence of the chronic disorders as well as the awareness of the vaccinations which utilizes the subcutaneous drug delivery devices like vials. In addition to that, the growing demand for them attributing to the increased development of the biologics that in turn is propelling the growth of the subcutaneous drug delivery market globally.
Moreover, the preference given to the subcutaneous route of administration due to the benefits that includes facilitation of the self-medication, improvement of the quality of life which in turn reduces the expenses of healthcare. Hence, fostering the growth of the subcutaneous drug delivery market.
Despite that, the unavailability of the product approval due to rising number of products in the market is estimated to hamper the growth of global subcutaneous drug delivery market in the forthcoming future.
However, due to the advancement in the subcutaneous drug delivery devices by application of innovative approaches are expected to provide lucrative opportunities to the subcutaneous drug delivery market in the coming years. In fact, the advent of the new devices such as, jet injectors, auto injectors and mechanical pumps is expected to accelerate the growth of subcutaneous drug delivery market over the forecast period.
Reports and Insights Study identifies some of the key participating players in the subcutaneous drug delivery market globally are Becton Dickinson Company, Consort Medical, West pharmaceuticals services Inc., Ypsomed AG, Elcam Medical, Sc Pharmaceuticals Inc., Steady Med Ltd, Amgen Inc., Sensile medical AG, among others.
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