Injectable drug delivery market poised for 8.6% CAGR growth until 2029

The market’s revenue is set to reach $1139.4b within the forecast period.

Revenue for the global injectable drug delivery market is set to grow by $1139.4b at a compound annual growth rate (CAGR) of 8.6% until 2029.

A report by MarketsandMarkets revealed that the market’s growth is due to technological advancements, a growing prevalence of chronic diseases, and an increase in government funding.

Moreover, the ageing global population has driven up the demand for injectable medications for chronic illnesses, contributing to the industry’s expansion.

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In addition, rapid urbanisation, improved healthcare infrastructure, and increased healthcare spending have led to emerging economies having better access to injectable drugs.

The report also mentioned that in terms of usage pattern, curative care holds the largest share during the forecast period as injectable drugs are often used in settings, such as hospitals and emergency rooms.

These drugs in curative care settings are used to treat acute medical illnesses that require prompt attention.