Injectable Drug Delivery Market Size Will Reach $931.1 Billion By 2024: Grand View Research, Inc.
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 Injectable Drug Delivery
Marketmarket: 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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/biotechnology
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)
- Devices
- Self-
injection devices
- Conventional
injection devices
- Formulation
- Conventional
Drug Delivery
- Novel
Drug Delivery
- Others
Injectable Drug Delivery Therapeutic Use Outlook (Revenue,
USD Million, 2013 - 2024)
- Autoimmune
disorders
- Hormonal
disorders
- Oncology
- Others
Injectable Drug Delivery Devices End-User Application
Outlook (Revenue, USD Million, 2013 - 2024)
- Hospitals
- Homecare
Settings
- Others
Injectable Drug Delivery Devices Regional Outlook
(Revenue, USD Million, 2013 - 2024)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
Access press release of this research report by Grand
View Research: 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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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