The global injectable drug delivery market is expected to reach USD 931.1 billion by 2024, according to a new report by Grand View Research, Inc. The increase in number of chronic diseases like diabetes and cancer has fueled the need for injectable drug delivery. Unlike other traditional forms of drug delivery, injectables allow maximum bioavailability of the pharmaceutical drug as it bypasses the first pass metabolism. With substantial growth in technological advancements, the devices being manufactured and marketed are built so as to cater to the specific needs of the patients.
With the advent of self-injection devices, injectable drugs can be self administered without the need of medical assistance. A large number of technology-oriented developments have taken place in the biologics market, which further increases the applicability of these injectable devices in the challenging disease areas. Self-injection devices have allowed patients suffering from diabetes to manage insulin levels with auto-injectors, pen-injectors, and needle-free injectors; thus, the homecare segment has been a large grosser in the end-user application.
The major restraints in this market are injuries and infections caused by needles, ambiguities related to regulatory reimbursements, sterility of the injectable drugs, and the preference of other drug delivery systems that possess less toxicity and are easy to administer. Despite these restraints, the market potential for injectable drug delivery products is tremendous with majority of the key players opting to injectables over other forms of delivery. The injectable drug delivery industry, based on product type is segmented into two sub-types namely self-injection devices and conventional injection devices. Further, on the basis of therapeutic use, the injectable drug delivery industry is segmented into autoimmune disorders, hormonal disorders, oncology, and others.
The injectable drug delivery industry by end-user application is categorized into hospitals, homecare settings, and others including research establishments, diagnostics, and clinical laboratories.
Browse full research report on global injectable drug delivery market: http://www.grandviewresearch.com/industry-analysis/injectable-drug-delivery-devices-industry
Further key findings from the study suggest:
- North America is expected to lead the market for injectable drug delivery devices with the largest number of patients suffering from chronic diseases like diabetes and cancer along with autoimmune disorders. The reason why countries in North America are leading is due to the technological innovations and advanced research in the area that enable them to excel at designing new and improved drug delivery products.
- The Asia Pacific market is set to lead exceptionally well owing to the partnerships with other well established global players. This region has also witnessed enormous investments in research and development; thus, accelerating the growth of the injectables market in this region.
- The homecare settings has been the most profit garnering segment with a large cohort of patients suffering from chronic diseases and hence the resultant high utility of these devices at a primary level for better control and management of the disease.
- Some key market players include Pfizer, Inc., Schott AG, Becton, Dickinson and Company, Baxter International, Inc., and ELI Lilly & Co.
Related reports by Grand View Research:
Grand View Research has segmented the global injectable drug delivery market on the basis of device type, therapeutic use, formulation, end-user application, and region:
Injectable Drug Delivery by Type Outlook (Revenue, USD Million, 2013 – 2024)
- Self- injection devices
- Conventional injection devices
- Conventional Drug Delivery
- Novel Drug Delivery
Injectable Drug Delivery Therapeutic Use Outlook (Revenue, USD Million, 2013 – 2024)
- Autoimmune disorders
- Hormonal disorders
Injectable Drug Delivery Devices End-User Application Outlook (Revenue, USD Million, 2013 – 2024)
- Homecare Settings
Injectable Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2013 – 2024)
- North America
- Asia Pacific
- Latin America
Access press release of this report – http://www.grandviewresearch.com/press-release/global-injectable-drug-delivery-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Read Our Blogs – grandviewresearch.com/blogs/healthcare
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519