Injectable Drug Delivery Market Is Increasing Due To The Increase In Number Of Chronic Diseases Till 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.
Injectable
drug delivery market, by devices, 2013 - 2024 (USD Million)
Browse full
research report on Injectable Drug Delivery Market: https://www.grandviewresearch.com/industry-analysis/injectable-drug-delivery-devices-industry
Further key
findings from the report 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: https://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: https://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.
Comments
Post a Comment