Injectable Drug Delivery Market – the Expected Revenue Growth in Near Future

PUNE, India, 2020-Oct-15 — /EPR Network/ —

Market Dynamics

Driver: Growth in biologics market

According to the American Journal of Managed Health Care, biologics form the fastest-growing segment in the pharmaceutical market. An article published by PHARMAC stated that between 2007 and 2012, the global spending on all medicines increased by 24%; in the same period, the spending on biologics increased by 367%.

Opportunity: Contraceptive injectable

Over the years, the use of injectable contraceptives has increased significantly. This increased use of injectable contraceptives can mainly be attributed to their high efficacy. Injectable contraceptives are not required to be taken daily; they can be administered once every month or once every three months and are considered to be one of the safer modes of pregnancy prevention. They prevent pregnancy 99% of the time, when administered correctly. Due to these reasons the demand for contraceptive injectables is expected to drive the market in future.

The Injectable Drugs Market is projected to reach USD 902.3 billion by 2027 from USD 362.38 billion in 2016, at a CAGR of 11.5% during the forecast period.

Based on region, the injectable drug delivery market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is further subsegmented into the U.S. and Canada; while Europe is further subsegmented into Germany, France, the U.K., Italy, Spain, and the Rest of Europe (RoE); Asia is further subsegmented into Japan, China, India, and the Rest of Asia (RoA).

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Along with this, the rise in disposable income, the growing awareness of safety and comfort, and the increasing number of partnerships in this market space are also contributing to the growth. In 2016, North America is expected to dominate the market, followed by Europe. The large share of North America is attributed to the increasing prevalence of chronic diseases and the number of companies that are focused on collaboration and partnerships to ensure the availability of high-value products.

Asia is projected to be the fastest-growing region in the injectable drug delivery market from 2016 to 2021, due to the rising incidence of chronic diseases and the growing aging population. Moreover, high penetration of self-injection technologies in Asian countries such as China, Japan, and India adds to the demand for injectable devices.

By therapeutic applications, the Injectable Drugs Market is segmented into autoimmune diseases, hormonal disorders, cancer, orphan diseases, and other therapeutic applications (pain management, allergies, hepatitis C, aesthetic treatment, and hemophilia). Cancer segment is expected to register the highest CAGR during the forecast period.

Based on formulation packaging, the Injectable Drug Delivery Market is segmented into the ampules, vials, cartridges, and bottles. Ampules are expected to dominate the Injectable drug delivery market, in 2016. The large share of this market segment can be attributed majorly due to its good barrier properties as compared to other types of packaging; moreover, they offer better protection at a lower cost. Ease of transportation and low cost of manufacturing are the factors driving the growth in this segment.

The leading players in the Injectable Drugs Market are Becton, Dickinson and Company (U.S.), Baxter International (U.S.), Pfizer (U.S.), Gerresheimer AG (Germany), Schott AG (Germany), Eli Lilly and Company (U.S.), and Terumo Corporation (Japan).

Companies are focused on organic strategies such as product launches. This strategy helped the market players to build a strong position in the market, which helped in increasing demand of customers and to expand their presence in the global market.

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