Injectable Drug Delivery Industry – Factors Responsible for Global Growth | Emerging Economies | Future Forecasts
Growth in this market is mainly driven by increasing prevalence of chronic diseases, rising aging population, increasing use of biologics, and increasing number of needlestick injuries. On the other hand, growing use of alternative delivery methods, safety concerns, and risk of transmission of blood-borne infections and needlestick injuries may hinder the growth of the market.
The injectable drug delivery is segmented based on type, formulation packaging, therapeutic application, usage pattern, site of administration, distribution channel, facility of use, and regions.
Based on site of administration, the market is segmented into skin, circulatory/musculoskeletal system, organs, and central nervous system (CNS). Skin is the fastest-growing segment due to its high efficacy and proven results of skin-based administration of Vaccines and drugs such as insulin and morphine.
By usage pattern, the market is segmented into curative care, immunization, and others (blood transfusion, inoculation, blood products, and contraceptives). Curative care is the fastest-growing segment due to the fact that majority of the injections are administered for therapeutic (curative) purposes, rather than immunization (Source: WHO). The factor that drives the growth of this segment is the increasing healthcare access in many countries coupled with the rising prevalence of various diseases.
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By type, the market is segmented into formulations and devices. Formulations are the fastest-growing segment due to rising demand for biologics. In addition, the increase in targeted drug R&D activities and the growing positive clinical outcomes of novel formulations such as liposomes, dendrimers, and Microspheres for the treatment of chronic diseases are driving the growth of this market.
Based on formulation packaging, the market is segmented into ampules, vials, cartridges, and bottles. Ampules are the fastest-growing segment due to ease of transportation and low cost of manufacturing.
The leading players in the 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.
This research study involves the use of extensive secondary sources; directories; and databases such as Hoovers, Bloomberg Business, Factiva, and Avention; white papers; annual reports; company house documents; and SEC filings of companies.
For estimating the size of the injectable drug delivery market, the segmental market revenues were obtained from secondary sources through extensive primary interviews. The segment-level markets were then added up to reach the total market size of each segment (Type, Formulation Packaging, Therapeutic Application, Usage Pattern, Site of Administration, Distribution Channel, Facility of Use, and Regions).
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