The market of the generic drug has been segmented on the basis of the brand as pure generic drug and branded generic drugs. Branded generic drugs are marketed under another company’s brand name but they are bioequivalent to their generic counterparts. Due to high involvement of companies in manufacturing pure generic drugs, pure generic drug segment is dominating the market.

Sarasota, FL -- (SBWire) -- 01/25/2018 --Administration of a drug or drugs directly into patient's blood circulation through a delivery device is called as injectable drug delivery. Some predominant peptides, pharmaceutical agents, protein and other therapeutics agents can be administered by injectable routes. The parentral administration route is one of the most common and efficient drug delivery forms.

According to the report, the global generic drug market accounted for around USD 200.20 billion in 2015 and is expected to reach approximately USD 380.60 billion by 2021, growing at a CAGR of around 10.8 % between 2016 and 2021.

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The global injectable drug delivery market is expected to witness substantial growth in the years to come. The market is mainly driven by rapid growth in population coupled with increasing incidences of chronic diseases like cancer and diabetes. Moreover, the innovations in technological processes have resulted in the development of advanced devices. Additionally, technological advancement like dual-injectables has further enhanced the process of drug delivery performed by injectables. Thus, these noteworthy changes are expected to propel the growth of the market within the forecast period. However, healthcare awareness regarding infections and injuries caused by the needles used in syringes may hamper the market growth within the forecast period. Nevertheless, the rise in demand for biosimilars and generic injectables is expected to open up new growth avenues in the near future.

Device and formulation are the key types in the global injectable drug delivery market. The formulation is further segmented into conventional drug delivery, novel drug delivery, and others. Formulation segment held the largest market share of total revenue generated in 2015. This growth is mainly driven by benefits such as reduced side effects and high efficacy offered by formulations. The devices segment is bifurcated into conventional injection devices and self-injection devices. Self-injection devices include of needle-free injectors, auto-injectors, pen-injectors, and others. The device includes self-injection devices which are expected to be the fastest growing segment in the near future.

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Based on end-user, injectable drug delivery market can be segmented into hospitals, homecare, and others. Homecare accounted for the largest market share due to increasing incidences of diabetes diseases. The increasing prevalence of diabetes worldwide has allowed the key participant in this market to launch advanced devices for the administration of insulin with the help of self-injection device. Thus, homecare segment is expected to witness exponential growth within the forecast period.

North America was the largest regional market for injectable drug delivery in 2015 due to increasing scientific research and development of novel technologies. Moreover, high investment of the U.S. private companies in biology R&D activities is further expected to boost the injectable drug delivery market in this region. Europe was another leading regional market due to the high demand of self-injection devices coupled with increasing penetration of companies in R&D activities in biotechnology perspective. Asia Pacific is expected to exhibit strong growth for injectable drug delivery in the years to come. This growth is mainly due to rapid growth in population coupled with increasing the prevalence of chronic disease, especially in India and China.

Some of the key players in the global injectable drug delivery market include Pfizer, Inc., Baxter International, Inc., Terumo Corporation, Becton, Dickinson and Company, Schott AG among others

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