(PharmaNewsWire.Com, July 01, 2019 ) The major factors responsible for the growth of Injectable Drug Delivery Industry are the increasing use of biologics, increase in the prevalence of chronic diseases, increasing occurrence of needlestick injuries, and the benefits of injections (convenience, ease of use, and reduced pain).
These factors have increased the demand for devices such as safety syringes, prefilled syringes, and autoinjectors. On the other hand, the growing use of alternative delivery methods, safety concerns, and risk of transmission of blood-borne infections may hinder the growth of the market.
The global Injectable drug delivery market, in terms of value, is projected to reach USD 624.50 Billion by 2021 from USD 362.38 Billion in 2016, at a CAGR of 11.5% during the forecast period.
Based on site of administration, the market is segmented into skin, circulatory/musculoskeletal system, organs, and central nervous system (CNS). Skin is the fastest-growing segment due to its high efficacy and proven results of skin-based administration of vaccines and drugs such as insulin and morphine.
By usage pattern, the market is segmented into curative care, immunization, and others (blood transfusion, inoculation, blood products, and contraceptives). Curative care is the fastest-growing segment due to the fact that majority of the injections are administered for therapeutic (curative) purposes, rather than immunization (Source: WHO). The factor that drives the growth of this segment is the increasing healthcare access in many countries coupled with the rising prevalence of various diseases.
By type, the market is segmented into formulations and devices. Formulations are the fastest-growing segment due to rising demand for biologics. In addition, the increase in targeted drug R&D activities and the growing positive clinical outcomes of novel formulations such as liposomes, dendrimers, and microspheres for the treatment of chronic diseases are driving the growth of this market.
Based on formulation packaging, the market is segmented into ampules, vials, cartridges, and bottles. Ampules are the fastest-growing segment due to ease of transportation and low cost of manufacturing.
Companies are focused on organic strategies such as product launches. This strategy helped the market players to build a strong position in the market, which helped in increasing demand of customers and to expand their presence in the global market.
This research study involves the use of extensive secondary sources; directories; and databases such as Hoovers, Bloomberg Business, Factiva, and Avention; white papers; annual reports; company house documents; and SEC filings of companies.
The overall growth strategies adopted from 2013 to 2016 includes acquisition, agreements, collaboration, contracts, expansions, product launches, and partnerships. Companies adopted product launches and approvals to strengthen their customer base. Major players, namely, Becton, Dickinson and Company (U.S.), Baxter International (U.S.), Pfizer (U.S.), Gerresheimer AG (Germany), Schott AG (Germany), Eli Lilly and Company (U.S.), and Terumo Corporation (Japan) adopted product launches and approvals to expand their customer base and strengthen their position in the market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
