Global Injectable Drug Delivery Market: Overview
Injectable drug delivery is the process of administering drugs into a patient’s body through injection-based delivery devices. It allows maximum bioavailability at a rapid transportation of the pharmaceutical drug as it bypasses the first pass metabolism. Thus, it is considered to be one of the most effective routes of administration. Some of the common routes for this type of drug delivery are intramuscular, intravenous, intracardiac, intraarterial, intradermal, subcutaneous, intrathecal, and intraperitoneal. Injectable drug delivery systems find their application in autoimmune diseases, orphan diseases, hormonal disorders, and cancer.
Global Injectable Drug Delivery Market: Key Trends
The growing incidence of chronic diseases such as cancer and diabetes is translating into the greater global demand for injectable drug delivery systems. Rapid technological advancements and increasing focus on new product launches are ensuring that the systems being manufactured and marketed are built so as to meet the specific needs of the patients. This, in turn, is working in favor of the growth of the global injectable drug delivery market. Players in the market are also benefitting from the flourishing growth of the biologics market. Moreover, the surging demand for self-injection devices is stoking the growth of the market.
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However, the infections associated with needlestick injuries and their growing occurrence are keeping the market from realizing its utmost potential. Furthermore, the uncertainties related to reimbursement scenario are acting as an impediment to the growth of the market.
Global Injectable Drug Delivery Market: Market Potential
The development of novel injectable drugs has given the global injectable drug delivery market a major boost. The impact of this driver will be high in the near future with several pharmaceutical giants attempting to widen their pipelines into injectable drugs. For instance, Dr. Reddy’s Laboratories Ltd. in October 2016 announced its association with Gland Pharma Ltd. for marketing and distribution of eight injectable abbreviated new drug applications in the U.S.
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In addition, market players are acquiring or forming partnerships with injectable drug manufacturers to maximize their revenue generation. To put this in perspective, in December 2016, Baxter International purchased three manufacturing facilities and a diverse portfolio of 11 approved injectable drugs from Claris Lifesciences.
Global Injectable Drug Delivery Market: Region-wise Outlook
The key segments analyzed based on geography are North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. North America will be a prominent destination for players in the global injectable drug delivery. The wide base of patients suffering from autoimmune disorders and chronic diseases such as cancer and diabetes is one of the primary factors propelling the growth of the region. The continuous technological advancements and research activities in the field is also providing a competitive edge to the region over other regions.
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Asia Pacific is expected to post a noteworthy CAGR during the review period. The increasing partnerships between global participants and local players are providing a significant momentum to the market in the region. The growth of the region can also be attributed to the sizeable investments in research and development in the healthcare and pharmaceutical sectors. Emerging countries such as China and India will be at the forefront of growth, owing to the rising healthcare awareness and improving healthcare infrastructure.
Global Injectable Drug Delivery Market: Competitive Landscape
Players are allocating substantial funds for research and development activities to introduce innovative drug delivery systems in order to enhance their visibility in the global injectable drug delivery market. Mergers and acquisitions are commonly adopted growth strategies by key market participants to consolidate their presence. Some of the prominent companies operating in the market are Becton, Dickinson and Company, Nova Nordisk A/S, Baxter International, Sanofi, Pfizer, Schott AG, Eli Lilly and Company, and Terumo Corporation.
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