PUBLISHER: Grand View Research | PRODUCT CODE: 1529868
PUBLISHER: Grand View Research | PRODUCT CODE: 1529868
The U.S. and Europe on-body injectors market size is anticipated to reach USD 5.45 billion by 2030 and is projected to grow at a CAGR 11.27% from 2024 to 2030, according to a new report by Grand View Research, Inc., due to several key factors. Primarily, the rising incidence of chronic illnesses such as diabetes and cancer has amplified the demand for advanced drug delivery systems.
According to June 2024 data from the American Heart Association, over 184 million people, or more than 61% of the U.S. population, are projected to have some form of cardiovascular disease (CVD). Total CVD-related costs are expected to triple to USD 1.8 trillion by 2050. On-body injectors provide a convenient and less intrusive way to administer medications, appealing especially to patients needing regular self-administration, thereby enhancing treatment adherence and overall therapeutic effectiveness. Moreover, the increasing elderly population in these regions underscores the necessity for effective drug delivery solutions, further driving market expansion.
In addition, the regulatory environment in the U.S. and Europe has been supportive of the development and commercialization of on-body injectors. Regulatory bodies such as the FDA and EMA have established clear guidelines and streamlined approval processes for these devices, ensuring their safety and efficacy. This regulatory support has encouraged manufacturers to innovate and bring new products to market more swiftly. Furthermore, the harmonization of regulatory standards across these regions has facilitated easier market entry and expansion for global companies, contributing to the overall growth of the on-body injectors market.
Moreover, market players such as BD, Stevanato Group, and Coherus BioSciences are leading in innovation, introducing advanced on-body delivery systems. Developments include customizable dosing options, enhanced connectivity features, and improved user interfaces to optimize patient convenience and treatment adherence. These advancements cater to the rising demand for efficient drug delivery solutions, particularly in managing conditions such as diabetes and autoimmune diseases. For instance, in October 2022, Nemera and Zollner entered into a partnership to create electronic drug delivery devices, commencing with Nemera's Symbioze, a high-capacity wearable injection device. Under this collaboration, Zollner will manage the electronics and software development for the Symbioze device. Such collaborative efforts are crucial in addressing the complex needs of chronic disease management, thereby driving the growth of the on-body injectors market in the U.S. and Europe.
Furthermore, increasing investment in healthcare infrastructure and the rising adoption of advanced medical devices in both the U.S. and Europe have fostered market growth. Governments and private entities are allocating substantial resources to modernize healthcare facilities and improve patient care standards. This investment includes the adoption of cutting-edge medical technologies, such as on-body injectors, which streamline treatment processes and reduce hospital stays.