According to a research report titled ‘Global Subcutaneous Drug Delivery Devices Market Size study, by Product (Prefilled Syringes, Pen Injectors, Auto Injectors, Wearable Injectors, Needle-Free Injectors), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Regional Forecasts 2020-2027’, available with Market Study Report, global subcutaneous drug delivery devices market was valued at USD 9.7 billion in 2019, and is anticipated to record 7.4% CAGR during 2020-2027, reaching a valuation of USD 17.2 billion by the end of forecast period.
 

Report findings state that prevalence of chronic ailments such as diabetes, cardiovascular disease (CVD), and cancer, growing production of biologics, and rising emphasis on self-administration are major factors responsible for worldwide subcutaneous drug delivery devices industry growth. Notably, these devices reduce the frequency of needlestick injuries and minimize dosage discrepancies.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3002318/
 

Furthermore, various pharmaceutical products which are managed through subcutaneous routes are being developed and promoted for numerous diseases. Drug manufactures are also focusing on easy administration, so that ensure drug efficacy. Thus, fast-paced adoption of subcutaneous drug delivery devices is anticipated to stimulate industry remuneration.
 

As per the American Heart Association, cardiovascular disease (CVD) is the primary cause of mortality across the world. CVD accounted for over 17.6 million deaths in 2016, and this figure is projected to reach almost 23.6 million by 2030. These statistics indicate a strong demand for subcutaneous drug delivery devices in the ensuing years.
 

For the unversed, subcutaneous drugs are administered into the cutis, which is the layer of skin comprising of dermis and epidermis. The subcutaneous route of drug delivery is mainly used for continual release of drugs like insulin, and goserelin into the body.
 

Despite the promising trajectory of global subcutaneous drug delivery devices market, expensive nature of advanced delivery systems, and lack of consumer awareness about the product will hamper industry growth during the forecast period.
 

Based on product type, the industry is arrayed into pen injectors, prefilled syringes, wearable injectors, auto injectors, and needle free injectors. Moving on to distribution channels, global subcutaneous drug delivery devices market is classified into retail pharmacies, online pharmacies, and hospital pharmacies.
 

On the regional front, North America grabbed significant market share in the past year, owing to rise in prevalence of CVD and cancer as well as presence of considerable number of regional suppliers. However, Asia Pacific subcutaneous drug delivery devices industry size is anticipated to record highest growth rate over the forecast period, due to advancing healthcare infrastructure in countries such as India and China, and substantial rise in number of multiple sclerosis and diabetic patients.
 

Key contenders in global subcutaneous drug delivery devices market are Unilife Corporation, Gerresheimer AG, PharmaJet Inc., Medtronic plc, West Pharmaceutical Services Inc., Ypsomed Group, Becton, Dickinson and Company (BD), Elcam Medical Inc., Insulet Corporation, and Novo Nordisk A/S.