(PharmaNewsWire.Com, June 01, 2021 ) The leading players in the market are 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).
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.
For estimating the size of the injectable drug delivery market, the segmental market revenues were obtained from secondary sources through extensive primary interviews. The segment-level markets were then added up to reach the total market size of each segment (Type, Formulation Packaging, Therapeutic Application, Usage Pattern, Site of Administration, Distribution Channel, Facility of Use, and Regions). The injectable drug delivery market size was derived by adding the markets of all these segments. The total market derived through the bottom-up approach was again validated through secondary sources and interviews.
The overall market size derived by the bottom-up approach was used in the top-down procedure to estimate the size of the injectable drug delivery through the percentage splits obtained from secondary and primary research for each product segment
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.
In November 2016, Becton, Dickinson and Company collaborated with Eli Lilly & Company (U.S.) to launch the FDA-approved BD U-500 Insulin Syringe. This is used by patients using Humulin R U-500 insulin for the treatment of diabetes. This has helped the company enhance its product portfolio for the treatment of diabetes. Further, in January 2016, SCHOTT added new closure systems (rigid caps) to its existing wide portfolio of prefillable syringes (PFS), which offers an easy-to-use twist-off mechanism. This helped the company offer advanced products and strengthen its customer base.
The Injectable Drug Delivery Market is projected to reach USD 902.3 billion by 2027 from USD 362.38 billion in 2016, at a CAGR of 11.5% during the forecast period. Growth in this market is mainly driven by increasing prevalence of chronic diseases, rising aging population, increasing use of biologics, and increasing number of needlestick injuries. On the other hand, growing use of alternative delivery methods, safety concerns, and risk of transmission of blood-borne infections and needlestick injuries may hinder the growth of the market.
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