The Global Integrated Drug Containment And Delivery Solutions Market Size is predicted to witness a 12.00% CAGR during the forecast period for 2024-2031.
The market is projected to grow substantially due to the growing prevalence of chronic illnesses and the increasing demand for injectable medications. The increased emphasis on patient safety and the rising demand for creative medication delivery systems are projected to expand the integrated drug containment and delivery solutions market. The need for user-friendly drug storage and delivery systems that reduce the likelihood of medication errors is growing.
Additionally, the market is anticipated to increase due to the rising use of prefilled syringes and other cutting-edge medication delivery technologies. The increasing incidences of chronic conditions like cancer, diabetes, and heart disease drive the market. Furthermore, the increasing use of self-administered injectable drugs has also contributed to the market's expansion. The expensive cost of creating and deploying these systems passed on to the end users may be a major impediment to the uptake of these solutions. The market's expansion may need to be improved by end users' need to gain knowledge of these systems' advantages, particularly in emerging markets.
Recent Developments:
- In June 2020-Aptar Pharma revealed that they had partnered with Eli Lilly and Company to create an inhaler that could potentially be granted (EUA) for treating COVID-19.
- In October 2019, Hergesheimer AG announced that it had formed a collaboration with Sensile Medical AG to develop and produce a wearable drug delivery apparatus for diabetes treatment.
Competitive Landscape:
Some of the Integrated Drug Containment and Delivery Solutions market players are:
- BD (Becton, Dickinson, and Company)
- Hergesheimer AG
- West Pharmaceutical Services, Inc.
- Schott AG
- AptarGroup, Inc.
- Catalent, Inc.
- Stearate Group
- NIPRO
- Owen Mumford Limited
- Psalmed AG
Market Segmentation:
The integrated drug containment and delivery solutions market is segmented based on product, packaging and end users. By product type, the integrated drug containment and delivery solutions market is categorized into pre-fillable syringes, auto-injectors and inhalers. The market is segmented as vials, ampoules, bottles, and blisters based on packaging. By end users, the integrated drug containment and delivery solutions market is segmented into hospitals, clinics, Home Care Settings and ambulatory surgical centers.
Based On Product, The Prefilled Syringes Segment Is A Major Contributor To The Integrated Drug Containment And Delivery Solutions Market
The prefilled syringes will hold a major share in the global integrated drug containment and delivery solutions market in 2024. Prefilled syringes are increasingly being used in hospitals, clinics, and home healthcare settings due to their ease of use, accuracy of dose, and reduced risk of contamination. Moreover, prefilled syringes are suitable for various drugs, including biologics, vaccines, and biosimilars. Using prefilled syringes is also beneficial for drug manufacturers, as they can help reduce drug waste, improve product stability, and increase manufacturing efficiency.
The Hospital's Segment Witnessed Growth At A Rapid Rate
The hospital segment is projected to grow rapidly in the global integrated drug containment and delivery solutions market. Hospitals are significant consumers of integrated drug containment and delivery solutions, as they require safe and effective drug delivery systems to administer medications to their patients. Advanced drug delivery systems, such as prefilled syringes and wearable drug delivery devices, are becoming increasingly popular in hospitals because they provide targeted and sustained release of medications, improving patient outcomes and compliance. Adopting self-administered injectable drugs and home healthcare services also contributes to the growth of hospitals' integrated drug containment and delivery solutions market.
The North America Integrated Drug Containment And Delivery Solutions Market Holds A Significant Regional Revenue Share
The North American region is expected to develop the highest market share due to the region's rising prevalence of chronic diseases and the developing use of cutting-edge drug delivery technologies in healthcare facilities. In light of the increased prevalence of chronic diseases, the adoption of self-administered drug delivery devices, and the demand for sophisticated drug delivery systems, it is predicted that the market for integrated drug containment and delivery solutions will grow significantly throughout the forecast period. Furthermore, the Asia Pacific regional market is projected to hold the second-largest share. The necessity for advanced drug delivery systems is expanding in emerging economies like China and India. This explains the existence of significant market participants and the growing collaboration among major firms for market penetration in the region.
Integrated Drug Containment And Delivery Solutions Market Report Scope:
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Report Attribute |
Specifications |
|
Growth rate CAGR |
CAGR of 12% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, volume (number of units) and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Product, Packaging And End Users |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
BD (Becton, Dickinson, and Company), Gerresheimer AG, West Pharmaceutical Services, Inc., Schott AG, AptarGroup, Inc., Catalent, Inc., Stevanato Group, NIPRO, Owen Mumford Limited and Ypsomed AG. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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