The global injectable drug delivery market was valued at USD 483.5 billion in 2019 and is expected to grow to USD 2,651.3 billion by 2032, reflecting a robust CAGR of 13.1% during the forecast period (2020-2032). In 2019, North America held a significant market share, valued at USD 172.67 billion, accounting for 35.71% of the global market.
While tablets, pills, and capsules were once the primary forms of medication, drug delivery has evolved with the introduction of advanced and smarter systems. These technologies enable targeted drug delivery to specific sites, improving localization and effectiveness, especially for areas difficult to access through the bloodstream. Patients who depend on daily medication increasingly prefer these advanced systems over traditional injection devices for their efficiency and convenience.
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In March 2020, Becton, Dickinson and Company (BD) achieved a significant milestone by completing a 50-subject human clinical trial for their investigational device, BD Libertas Wearable Injector. This development marks a step forward in wearable injector technology, addressing the need for advanced drug delivery solutions that improve patient compliance and convenience.