Persistence Market Research is released new forthcoming report on title "Injectable Drug Delivery Market: Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 11/19/2014 -- Drug delivery is a process of administering pharmaceutical compound through various routes in the body for therapeutic effect. Oral, injection based, transdermal and carrier based are some of the types of drug delivery devices. Injectable drug delivery provides rapid transport of drug in the body by bypassing first-pass metabolism. It also helps in administration of drug in unconscious and comatose patient. Injectable drug delivery is used in conditions such as hormonal imbalance, cystic fibrosis, auto immune diseases, pain, Wilson’s disease, hemophilia, hepatitis C and ribose-5-phosphate isomerase deficiency. Toxicity due to incorrect dosing, invasive and sterility are some of the disadvantages of injectable drug delivery system. Injectable drug delivery technologies are categorized as device technologies and formulation technologies. In addition, injectable drug delivery device technologies are further categorizes as conventional injection devices, self injection devices such as injectors and pen injectors and others such as micro-needles, blunt needle and nano-needle injections. On the other hand injectable drug delivery formulations are further categorized as novel drug delivery formulation and conventional drug delivery formulation.
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North America dominates the global market for injectable drug delivery due to large number of aging population and increasing incidence of diabetes. Asia is expected to show high growth rates in the next five years in the global injectable drug delivery market. China and India are expected to be the fastest growing injectable drug delivery markets in Asia-Pacific region. Some of the key driving forces for injectable drug delivery market in emerging countries are large pool of patients, increasing healthcare expenditure, rising focus of various huge players, increasing healthcare awareness and rising government funding.
In recent times there is increased use of injectable drug delivery due to increasing incidence of cancer and diabetes. Technological advancements, improving patient compliance, beneficial reimbursement policies and rise of biologics in pharmaceutical market are some of the key factors driving the growth for the global injectable drug delivery market. In addition, increasing healthcare awareness and increasing number of geriatric population are also fuelling the growth of the global injectable drug delivery market. However, needle stick injury and infection and development of alternative drug delivery methods are some of the major factors restraining the growth for the global injectable drug delivery market. In addition, strict regulatory requirements for approval of devices would also inhibit the growth of the global injectable drug delivery market.
Less stringent regulatory policies and less data requirement for approval of devices would lead to growth in injectable drug delivery market in Asia. Development of biosimilars in the pharmaceutical market would develop opportunity for the global injectable drug delivery market. However, high manufacturing cost and sustainability of players in highly competitive market could lead a challenge for the global injectable drug delivery market. Innovations in injectable drug delivery systems are the trend for the global injectable drug delivery market. Some of the major companies operating in the global injectable drug delivery market are Nova Nordisk A/S, Sanofi, Crossject, Eli Lilly and Company, Baxter International, Inc., Becton Dickinson and Company, Injex Pharma Gmbh, Elcam Medical, Unilife Corporation, West Pharmaceutical Services, Inc., Injex Pharma Gmbh and Vetter Pharma-Fertigung Gmbh & Co. Kg.
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