North America dominates the global market for injectable drug delivery due to a large aging population and increasing incidences of diabetes.
New York City, NY -- (SBWIRE) -- 09/21/2016 -- Drug delivery is the process of administering a pharmaceutical compound into the body through various routes to achieve a therapeutic effect. Oral, injection-based, transdermal, and carrier-based are some of the types of drug delivery devices. Injectable drug delivery facilitates the rapid transport of a drug into the body by bypassing first-pass metabolism. It also helps in administering drugs in unconscious and comatose patients. Injectable drug delivery is used in conditions such as hormonal imbalance, cystic fibrosis, autoimmune 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 systems. Injectable drug delivery technologies are categorized into device technologies and formulation technologies. Injectable drug delivery device technologies are further categorized into conventional injection devices, self-injection devices such as injectors and pen injectors, and others such as micro-needle, blunt needle, and nano-needle injections. On the other hand, injectable drug delivery formulations are further categorized into 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 a large aging population and increasing incidences of diabetes. Asia is expected to witness 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. Some of the key driving factors of the injectable drug delivery market in emerging countries are a large pool of patients, increasing healthcare expenditure, rising focus of various huge players, increasing healthcare awareness, and rising government funding.
In the recent years, the use of injectable drug delivery has increased due to increasing incidences of cancer and diabetes. Technological advancements, improving patient compliance, beneficial reimbursement policies, and rise of biologics in the pharmaceutical market are some of the key factors driving the growth of the global injectable drug delivery market. In addition, increasing healthcare awareness and increasing geriatric population are also fueling the growth of the global injectable drug delivery market. However, needlestick injuries and infections, and introduction of alternative drug delivery methods are some of the major factors restraining the growth of the global injectable drug delivery market. In addition, regulatory requirements for the approval of devices would also restrain the growth of the global injectable drug delivery market.
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Less stringent regulatory policies and less data requirement for approval of devices are expected to drive the growth of the injectable drug delivery market in Asia. Development of biosimilars in the pharmaceutical market would create opportunities for the global injectable drug delivery market. However, high manufacturing cost and sustainability of players in the highly competitive market could pose 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, InjexPharma GmbH, Elcam Medical, Unilife Corporation, West Pharmaceutical Services, Inc., and Vetter Pharma-Fertigung GmbH & Co. KG.
Key geographies evaluated in this report are:
France, Germany, Italy, Spain, and the UK
Key features of this report
Drivers, restraints, and challenges shaping the Injectable Drug Delivery market dynamics
Latest innovations and key events in the industry
Analysis of business strategies of the top players
Injectable Drug Delivery market estimates and forecasts(2015 -2021)
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