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Advanced Parenteral Drug Delivery Devices Market Pegged for Robust Expansion by 2025

May 3rd 2019 at 1:12 PM

Parenteral drug delivery devices are used for administration of drugs by routes other than the oral mode of dosage. Technological advancement in the area of parenteral drug delivery systems has led to development of innovative devices that enable sophisticated mode of drug targeting and controlled release of parenteral medicines. Parenteral formulations especially intravenous, allows direct access of the drug into the bloodstream and rapid onset of drug action at specific target sites. Parenteral drug delivery systems offers benefits over other dosage forms for drug delivery in critical medical conditions such as nausea, unconsciousness, and during clinical emergency conditions. Parenteral drug delivery systems are efficient in delivery of active drug molecule with poor bioavailability and drugs with narrow therapeutics index.

Parenteral route of drug delivery offers advantages of speedy onset of drug action. Maintenance of effective drug concentration range of systemic drugs is mandatory for effective treatment. This is achieved by repeated injections, which causes discomfort among patients. Thus, key players are investing in development of novel drug delivery systems which could reduce the patient discomfort level. Parenteral drug delivery devices optimizes the therapeutics index of drugs by providing immediate drug action in systemic level in the desired quantity for treatment. Growing prevalence of cardiac diseases, diabetes, and cancer are the major factors augmenting the growth of the Advanced Parenteral Drug Delivery Devices Market. Rising investment from key players for development of novel mode of administration of new drugs is likely to drive the market growth of advanced parenteral drug delivery devices.

The global advanced parenteral drug delivery devices market can be segmented based on product type, application, end-user, and region. In terms of product type, the global advanced parenteral drug delivery devices market has been segmented into prefillable syringes, injectors cartridges, hypodermic syringes, IV catheters, and others. In terms of applications, the market has been segregated into central nervous system agents, respiratory agents, hormones & related agents, gastrointestinal agents, cardiovascular agents, anti-infective agents, nutritional agents, and genito-urinary agents. In terms of end-user, the market can be segmented into hospitals, clinics, and diagnostic centers, ambulatory surgical centers and others.

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Based on region, the global advanced parenteral drug delivery devices market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a leading share of the global advanced parenteral drug delivery devices market, followed by Europe. Technological advancement in drug delivery devices, the rising patient awareness levels, and growing incidence of chronic diseases are the major factors propelling the growth of the advanced parenteral drug delivery devices market in North America. Asia Pacific is tipped to have huge potential for growth of advanced parenteral drug delivery devices owing to growing prevalence of cardiovascular and other chronic diseases, penetration of key players in this emerging region, large patient population, and rising healthcare expenditure. Latin America, and Middle East & Africa are anticipated to offer considerable growth opportunities for advanced parenteral drug delivery devices during the forecast period, due to penetration of key players, rising disposable incomes, and presence of a large population base.

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Key players operating in the global advanced parenteral drug delivery devices market are AptarGroup Incorporated, Amgen Incorporated, Abbott Laboratories, Baxter International Incorporated, Becton, Dickinson and Company, Bristol-Myers Squibb Company, Boston Scientific Corporation, GlaxoSmithKline plc, Roche Holding Limited, Novartis AG, Pfizer, and others.

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