Injectable Drug Delivery Market is Expected to Reach $547.8 Billion by 2020

Date: 2015-08-27

“The injectable drug delivery market is expected to reach $547.8 billion by 2020 from $326.1 billion in 2015, growing at a CAGR of 12.0% from 2015 to 2020. The market is categorized on the basis of type, therapeutic application, usage pattern, mode of administration, end user, and region. The therapeutic application market is further segmented into autoimmune diseases, hormonal disorders, oncology, orphan diseases, and other therapeutic applications. The oncology segment is expected to witness the highest CAGR in the forecast period. 

Factors such as rising incidences of chronic diseases, growth of the biologics market, demand of self-injection devices, and technological advancements, are driving the growth of the injectable drug delivery market. In addition, emphasis on innovation of formulations and improving the delivery of pharmaceuticals is also contributing to the growth of the market. For instance, in November 2012, COMPACT (Collaboration on the Optimization of Macromolecular Pharmaceutical Access to Cellular Targets), a public-private consortium funded by the Innovative Medicines Initiative (IMI), announced the launch of a €30 million ($38.5 million) project, which focuses on improving the delivery of biopharmaceuticals. The consortium would address the major bottlenecks in the development of novel innovative medicines based on biological macromolecules, such as proteins/peptides and oligonucleotides. Such investments are fueling the growth of the market. 

Asia is expected to be the fastest-growing country in the injectable drug delivery market. High growth in this market can be attributed to the increased demand for injectable insulin and self-injection devices, particularly pen injectors which are used in the treatment of diabetes.

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