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Injectable Drug Delivery Market: In-depth Evaluation on Growth, Share, Size and Trends Until the End of 2018 – 2028

Dec 12th 2018 at 4:57 AM

Type or Copy and Paste Your text hereIn order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Injectable Drug Delivery Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

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Drug delivery refers to the approaches, technologies and systems used for the administration of drugs to patients. Injectable drug delivery refers to the approach of administering the drug by penetration of needle or similar device into the skin. The administration may be either intravenous, sub-cutaneous or intra muscular based on the region of administration of the drug. The injectable drug delivery products can be categorized based on types as self-injectors, needle-free injectors and auto-injectors.

Self-injectors type of injectable drug delivery include wearable injectors that are small and handy. Self-injectors injectable drug delivery devices have a fine needle, which helps to reduce pain, and are generally used when a drug needs to be administered continuously, e.g., in the case of continuous administration and monitoring of insulin in patients suffering from diabetes. These devices either adhered to the skin or come with a belt. Needle-free type of injectable drug delivery are devices that allow the administration of drugs without the use of needles, but have similar administration that of a syringe. These injectable drug delivery devices may be pre-filled or fillable. Whereas the auto-injector type of injectable drug delivery are automated mechanical syringes, which may have selection of volume as an added feature. These devices are generally prefilled and disposable.

The growing competition in the emerging regions and rising demand for injectable drug delivery are some of the major factors expected to drive the growth of the injectable drug delivery market during the forecast period. For instance, pharmaceutical companies that have expanded in the Asia Pacific countries, such as China, are trying compete with Mylan for EpiPen. Similarly, patients suffering with conditions such as dementia and rheumatoid arthritis find it difficult to use conventional injections. The auto-injectors and other injectable drug delivery devices are easy to use and they help in reducing pain, which is the prime factor expected to increase the demand for injectable drug delivery devices.

Market Value and Forecast

FMI estimates that the global market for injectable drug delivery is expected to surpass US$ 32,136.9 Mn by 2028 end, expanding at a CAGR of 10.9% over 2018–2028. The needle-free type of injectable drug delivery is expected to be the dominant product type segment in the global injectable drug delivery market, which accounted about 40% revenue share in 2017, due to a large pool of patients suffering from diabetes, who generally prefer needle-free type of injectable drug delivery devices for a pain-free experience. Although North America is expected to be the dominant regional market for injectable drug delivery, Asia Pacific and Middle East & Africa injectable drug delivery market is expected to expand at high CAGRs over the forecast period.

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The global injectable drug delivery market is expected to be driven by increasing prevalence of chronic diseases such as diabetes and cancer. According to the WHO, cancer is the leading cause of deaths across the globe. In 2015, cancer was responsible for nearly 8.8 million deaths worldwide. According to the National Cancer Institute, an estimated 1,735,350 new cases of cancer are expected to be diagnosed in the U.S. in 2018. Furthermore, most of the injectable drug delivery devices find wide application in the treatment of diabetes. Since diabetic patients are prescribed with insulin, they require regular injection of insulin. However, the risk of needle stick injuries is a growing concern. Thus, wearable insulin pumps and other injectable drug delivery devices are the preferred option for diabetic patients, since these devices have fine needles, which reduce the likelihood of injuries.

Key Regions

The global market for injectable drug delivery is segmented in to seven key regions viz. North America, Eastern Europe, Western Europe, Latin America, Asia Pacific except Japan (APEJ), Japan and the Middle East and Africa (MEA). North America injectable drug delivery market accounted a significant share of the global market in 2017, followed by Western Europe and Asia Pacific. The North America & Western Europe injectable drug delivery market is foreseen to lose its share to Asia Pacific, partly due to growing adoption and expansion of current manufacturers of injectable drug delivery. Thus, the injectable drug delivery market in Asia Pacific is expected to have strong growth during the forecast period. Furthermore, China, being one of the most populated regions in the world, has high aged population and the number is growing steadily. The increasing ageing population in the region is consequently expected to drive the growth of the injectable drug delivery market in the Asia Pacific region.

Key Players

The key players identified in the global injectable drug delivery market can be classified based on the type of product they offer. Examples of some the key players manufacturing self-injector type of injectable drug delivery are Amgen, Medtronic Plc, Dexcom, West Pharmaceutical Services, and Consort Medical (Bespak), among others. The key players manufacturing needle-free type of injectable drug delivery are Crossject, Endo International Plc, and Penjet Corporation, among others. The key players manufacturing auto-injector type of injectable drug delivery are Amgen, Antares Pharma, Becton, and Dickinson and Company, Mylan, and SHL Group, among others.

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