Injectable Drug Delivery refers to a device used to penetrate needle or similar device into skin and facilitate the rapid transport of drug into the body by bypassing first pass metabolism. It helps patient in administrating drug in unconsciousness. Injectable drug delivery are widely used in conditions such as autoimmune diseases, cystic fibrosis, hormonal imbalance, pain, Wilson’s disease, hemophilia, hepatitis C and ribose-5-phosphate isomerase deficiency. The global injectable drug delivery market is growing significantly due to rising geriatric population, technological advancements in injectable drug delivery devices and increase in the number of cancer and diabetic patients globally. According to the report, the global population aged 60 years or over numbered 962 million in 2017, more than twice as large as in 1980 when there were 382 million older persons worldwide. The number of older persons is expected to double again by 2050, when it is projected to reach nearly 2.1 billion.
This growth is primarily driven by Rising Prevalence of Chronic Diseases Around The Globe, Increase In Targeted Drug R&D Activities and Growing Demand for Self-Injection Devices.
Globally, a noticeable market trend is evident High Penetrations of Self-Injection Techniques
. The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Dickinson and Company (United States), Baxter International (United States), Pfizer (United States), Gerresheimer AG (Germany), Schott AG (Germany), Eli Lilly and Company (United States), Terumo Corporation (Japan), Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), Nova Nordisk A/S (Denmark) and Sanofi (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2019, Aurobindo Pharma Limited, a pharmaceutical manufacturing company has entered into a definitive agreement of seven cancer drugs of Spectrum Pharma for USD 300 million. The acquisition will launch pad for Acrotech and established presence in the branded market, which will line up the strategy to grow and diversify the business.
According to the Occupational Safety & Health Administration (OSHA) estimates, 5.6 million workers in the healthcare industry are at a risk of needle injuries.
"To ensure rational and safe use of injections globally, better injection safety practices are needed. The responsibility for ensuring injection safety rests with national governments, prescribers, administrators, receivers of injections and the wider community. The World Health Organization (WHO) acknowledges this responsibility of its member states and the challenges they face. Through the WHO Injection Safety programme and the Safe Injection Global Network (SIGN – whose secretariat is hosted by WHO), the organization demonstrates its commitment to preventing injection-related disease transmission for patients, health workers and the community at large, through the rational and safe use of injections. WHO and SIGN recognize the importance of infection prevention and control in injection safety."
- Rising Prevalence of Chronic Diseases Around The Globe
- Increase In Targeted Drug R&D Activities
- Growing Demand for Self-Injection Devices
- High Penetrations of Self-Injection Techniques
- Innovations in Injectable Drug Delivery Systems
- Substitutes For Injectable Drug Such As Oral and Transdermal Delivery
- Risk of Transmission of Blood-Borne Infection with Needle Stick Injuries
- High Manufacturing Cost
Government Initiatives and Increasing Disposable Income, Reduction in the Frequency of Dosage Administration without Compromising the Effectiveness of the Treatment and Development of Bio similar in the Pharmaceutical Market
Preference for Other Modes of Drug Delivery
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Injectable Drug Delivery Study Sheds Light on
The Injectable Drug Delivery Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Injectable Drug Delivery industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Injectable Drug Delivery industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Injectable Drug Delivery Market?
The Injectable Drug Delivery market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Injectable Drug Delivery Market?
Top performing companies in the Global Injectable Drug Delivery market are Dickinson and Company (United States), Baxter International (United States), Pfizer (United States), Gerresheimer AG (Germany), Schott AG (Germany), Eli Lilly and Company (United States), Terumo Corporation (Japan), Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), Nova Nordisk A/S (Denmark) and Sanofi (France), to name a few.
3. Which region dominated the worldwide market for Injectable Drug Delivery in 2020?
North America is dominating the Injectable Drug Delivery Market.