The global subcutaneous drug delivery devices market size is anticipated to value USD 46.6 billion until 2027. It is also expected to register a CAGR of 10.4% over the forecasted years, 2020 to 2027. The need for reducing needle injuries and surging prevalence of self-administrative drug delivery is projected to propel the market growth.
The pen injectors product segment dominated the global market due to the increasing number of product approvals, affordability and higher social acceptance. On the other hand, the wearable injectors segment is anticipated to register the highest CAGR in the upcoming years due to their feature of administrating higher-volume and viscosity biological drugs.
In 2019, the segment of retail pharmacies dominated the global market with a 44.9% share on account of increasing self-administration and rising patient awareness across this region. The online pharmacies segment accounted for the highest CAGR across the global market in the upcoming years on account of discounts and offers provided by the vendors over the online purchase.
North America accounted for the highest share of around 44.1% across the global subcutaneous drug delivery devices market in 2019 due to the increasing number of investments in the healthcare sector in the U.S. and Canada. The Asia Pacific is anticipated to register substantial growth in the upcoming years due to the rising number of diabetic patients across countries like India and China.
The market across the globe includes key players such as Ypsomed AG, Gerresheimer AG, Insulet Corporation, Unilife Corporation, PharmaJet, and Elcam Medical Group. Rapid technological developments and product innovations are undertaken by these players to gain a cutting edge over other players.
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Further key findings from the report suggest:
• In 2019, the pen injectors segment dominated the global market.
• The online pharmacies segment accounted for the highest CAGR across the global market from 2020 to 2027.
• North America accounted for the highest share of around 44.1% across the global market in 2019.
• The key players operating in this market areYpsomed AG, Gerresheimer AG, Insulet Corporation, Unilife Corporation, PharmaJet, and Elcam Medical Group.
Million Insights has segmented the global subcutaneous drug delivery devices market on the basis of product, distribution channel and region:
Subcutaneous Drug Delivery Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
• Prefilled syringes
• Pen injectors
• Wearable injectors
• Needle-free injectors
Subcutaneous Drug Delivery Devices Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Hospital pharmacies
• Retail pharmacies
• Online pharmacies
Subcutaneous Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia