Albany, NY -- (SBWIRE) -- 10/23/2018 -- Injectable drug delivery is defined as introduction of a drug or drugs in the patient by using a delivery device. Injectables allow the transport of drugs formulated in liquid form, directly in the body. Even though, they may be designed to transport the drug to specific part of the body.
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Such drug delivery technology by the use of injections is majorly segmented into devices and formulations, and is commonly categorized as follows:
Type of formulation: microspheres, liposomes, nanoparticles
Type of device: needle free injectors, auto injectors, disposable syringes, reusable needles, pre-filled syringes, pen needle
Type of delivery method: intravenous, intramuscular, intraperitoneal, subcutaneous
Therapeutic applications: orphan diseases, auto-immune disease, oncology and others
Some of the major factors driving the growth of injectables are increase in the number of cancer and diabetic patients globally, improved patient compliance to drug delivery system and technology advancement. Out of the all the segments of this market, the formulation technologies market occupies the major share globally due to rapid development of nanotechnologies. The key deterrents restraining the growth of global injectables market include patient safety issues, injuries caused while administering injectables, development of alternate drug delivery methods and product recalls.
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The global injectable drug delivery market is dominated by North America and is followed by Europe. However the North American region lags behind European injectable market in self-injection devices due to low penetration rate of pen injectors in the U.S. The emerging Asian and Latin American countries collectively represent the fastest growing market for injectables due to the increase in incidences of cancer and diabetes in patients and also their compliance to novel technologies. Furthermore, the drug and device manufacturers are focusing on major emerging injectables market of Asia and Latin America due to less stringent regulations for acquiring approvals on devices and less competition.
Some of the key players in the injectables drug delivery technology market comprise of Becton, Dickinson and Company, Baxter International, Inc., Scandinavian Health Limited, Ypsomed Holding AG, Terumo Medical Corp., Schott AG, Owen Mumford Ltd., Antares Pharma, Inc., Eli Lilly And Company and Zogenix, Inc.
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