Subcutaneous Drug Delivery Devices Market Is Likely To Up Demand At A USD 51.8 Billion By 2030


 San Francisco, 23 Aug 2024: The Report Subcutaneous Drug Delivery Devices Market Size, Share & Trends Analysis Report By Product (Prefilled Syringes, Pen Injectors, Wearable Injectors), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

The global subcutaneous drug delivery devices market size is expected to reach USD 51.8 billion by 2030, registering to grow at a CAGR of 7.5% from 2024 to 2030 according to a new report by Grand View Research, Inc. The increasing prevalence of chronic conditions combined with regular medicine administration to relive disease symptoms has enhanced the demand for in-home drug administration devices. As per the Centers for Disease Control and Prevention (CDC), in 2018, about 54.4 million adults, amounting to 22.7% suffered from arthritis, fibromyalgia, gout, or lupus in the U.S. The CDC further stated that by 2040, an estimated 78.0 million adults accounting for 26.0% will be diagnosed with arthritis.

In addition, a rising number of biologic medicine approvals for the treatment of life-threatening conditions in patients requiring large dose volumes or extended delivery periods accelerate the demand for subcutaneous drug delivery devices. According to the study published by Informa U.K., in February 2019, the total number of medicines in the clinical trial pipeline increased from 53.0% in 2018 to 55.0% in 2019 for parenteral administrations, with an overall decrease in oral medicine formulations from 33.0% in 2018 to 31.0% in 2019.

Access Research Report of Subcutaneous Drug Delivery Devices Market @ https://www.grandviewresearch.com/industry-analysis/subcutaneous-drug-delivery-devices-market

Subcutaneous Drug Delivery Devices Market Report Highlights

  • North America accounted for the largest revenue share in 2023 owing to the rising prevalence of chronic diseases in the geriatric population and high disposable income
  • By product, injection pen is expected to register the highest CAGR during the forecast period owing to ease in providing multi-dose medicine and affordability
  • By distribution channel, the retail pharmacies segment accounted for the largest market share as they include large pharmacy chains and attractive schemes and discounts for the novel medicine delivery devices
  • Market players are adopting several strategies such as strategic collaborations and product innovations to cater to the increasing patient demand in the global market.

Subcutaneous Drug Delivery Devices Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 33.5 billion

Revenue forecast in 2030

USD 51.8 billion

Growth rate

CAGR of 7.5% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in Subcutaneous Drug Delivery Device Market

  • Gerresheimer AG
  • Medtronic Plc
  • Ypsomed AG
  • Elcam Medical Group
  • Novo Nordisk
  • Insulet Corporation
  • Becton, Dickinson and Company
  • West Pharmaceutical Services, Inc.
  • PharmaJet
  • Unilife Corporation
  • Inolife Sciences

Access Press Release of Subcutaneous Drug Delivery Devices Market @ https://www.grandviewresearch.com/press-release/global-subcutaneous-drug-delivery-devices-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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