The Increasing Demand For Injectable Drugs Is Anticipated To Openup The New Avanue For Injection Port Market

The Injection Port Market is estimated to be valued at US$ 1.36 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The injection port market involves medical components used for delivering injectable drugs into the body. Injection ports are pre-attached to medical devices such as implantable drug delivery systems and IV lines to provide easy access for administering drugs or fluids. Some key products in the market include injection sites, needleless connectors, caps, valves, and medical connectors among others. The growing prevalence of chronic diseases and increasing usage of injectable medications are expected to drive the demand for injection port solutions over the forecast period.

Market Dynamics:

The global injection port market is primarily driven by the rising chronic disease burden worldwide. Chronic diseases such as cancer, diabetes and cardiovascular disorders require long term management through medications including injectable drugs. According to WHO, chronic diseases accounted for over 70% of all deaths globally in 2020. Furthermore, growth in injectable biologics and large molecule drugs is also fueling the market. Biologics show better efficacy in treating complex diseases but require administration through medical devices such as syringe pumps and injection ports. Innovation in material technologies for making injection ports more reliable and compatible with modern drug delivery systems can also provide growth opportunities. Additionally, increasing health expenditures in emerging economies, rising adoption of self-injectable drugs and home healthcare are some factors expected to propel the injection port industry from 2023 to 2030. However, stringent regulations associated with medical devices may hamper market growth over the forecast period.

Segment Analysis

The global injection port market is segmented into large volume injection ports and small volume injection ports. The small volume injection ports segment holds the largest market share and is dominating the market. This is due to increasing demand for pre-filled syringes for parenteral and subcutaneous administration of drugs. Small volume injection ports are most commonly used with pre-filled syringes.

PEST Analysis

Political: Regulations regarding drug packaging and delivery are becoming more stringent. ISO and USP standards need to be followed regarding material suitability and integrity of drug packaging components.
Economic: The global injection port market is expected to grow at a steady pace due to rising healthcare expenditure worldwide and increasing demand for self-injectable drugs.
Social: Growing acceptance of self-administered drug delivery has increased demand for single-dose and multi-dose packaging with injection ports. Ease of use and convenience factor are driving the adoption of self-administered drug delivery methods.
Technological: Advancements in material science and manufacturing technologies have improved functionality, integrity, and leak-proof nature of injection ports. Materials like glass, COC, and COC have enabled development of safe and reliable small volume injection ports.

Key Takeaways

The Global Injection Port Market Growth is expected to witness high, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand for self-administered drug delivery. The market size for 2023 is estimated to be US$ 1.36 Bn.

Regional analysis

North America dominates the global injection port market due to high adoption of self-administered drug delivery methods. Availability of advanced healthcare infrastructure and growing elderly population driving market growth in the region. Asia Pacific exhibits the fastest growth rate owing to increasing healthcare expenditure, rising prevalence of chronic diseases, and growing medical tourism in the region.

Key players analysis

Key players operating in the injection port market are West Pharmaceutical Services Inc., Berry Global Inc., Sartorius AG, Corning Inc., Gerresheimer AG, SCHOTT AG, Stevanato Group, AptarGroup Inc., SGD Pharma, Ompi – Stevanato Group, DWK Life Sciences, Nipro Corporation, Nolato AB, Terumo Corporation, Qosina Corp. These players are focusing on new product launches, partnerships, and expansion in emerging markets to strengthen their market presence.

 

Read More – https://www.newsanalyticspro.com/injection-port-market-share-demand-analysis-size-and-trends-forecast/