Injectable Drug Delivery Market Worth USD 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
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.
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
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.
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