Injectable Drug Delivery Market to Surpass US$ 32.5 Billion By 2027 | At a CAGR of 8.3% over the forecast period 2019-2027
Rising product approvals and launches by market players are expected to drive the injectable drug delivery market growth
Major players operating in this market are focusing on developing new products and gaining approval for these products from regulatory authorities to meet demands of patients diagnosed with chronic diseases. For instance, in October, 2018, Genentech announced that it received the U.S. Food and Drug Administration (FDA) approval for single-dose prefilled syringes (PFS) for Xolair (omalizumab) as an additional formulation for both allergic asthma and chronic idiopathic urticaria (CIU) indications. Similarly, in August 2018, a new diabetes autoinjector pen by AstraZeneca- Bydureon Bcise was approved by the European Commission, which offers additional treatment options for patients with type-2 diabetes.
Moreover, various players in the market are focusing on expanding their production capacity and launching new facilities to expand their offerings and services, which is expected to drive growth of the market. For instance, in March 2019, Gerresheimer AG announced to build a new plant at North Macedonia, Europe to produce pharmaceutical plastic systems and prefillable syringes for the pharmaceutical industry and the medical technology sector.
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Furthermore, rising awareness regarding safety and concern for needlestick injuries is a major factor fueling growth of the global injectable drug delivery market. According to the Health Protection Agency (HPA) report in 2012, injuries among medical and dental professionals while treating patients increased by 131% (100-231) from 2002 to 2011.
Major players operating in the injectable drug delivery market are adopting various growth strategies such as collaborations and acquisitions to enhance their service offerings. For instance, in December 2016, SMC Ltd. acquired Oval Medical Technologies Ltd. to expand its drug delivery capabilities and product offerings to pharmaceutical manufacturers.
Similarly, in December 2017, Numedico Technologies signed an agreement with Mana Medical Services. According to the agreement, the latter will distribute ClickZip Needle Retractable Safety Syringe in New Zealand and Australia.
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Key Takeaways of the Global Injectable Drug Delivery Market:
- The global injectable drug delivery market is expected to exhibit a CAGR of 8.3% over the forecast period. This is attributed to launch of new products various players in the market. For instance, in 2018, AbbVie GK and Eisai Co., Ltd. launched an autoinjection delivery system for HUMIRA for Subcutaneous Injection 40 mg Pen 0.4 mL and 80 mg Pen 0.8 mL.
- Among material type, the plastic segment held dominant position in the global injectable drug delivery market in 2018, owing to launch of plastic syringes and cartridges. For instance, in June 2016, Gerresheimer launched Gx RTF ClearJect, a prefillable plastic syringe with integrated cannula, which is made from high-performance cyclo olefin polymer (COP) plastic for sensitive medications and high-viscosity agents.
- Among usability, the disposable segment held dominant position in the global injectable drug delivery market in 2018. This is owing to significant increase in treatment of chronic diseases through self-administration.
- Among route of administration, the subcutaneous segment held a dominant position in the global injectable drug delivery market in 2018, as pens and auto-injectors are mainly used for subcutaneous delivery of biopharmaceuticals, mainly for self-administrating.
- Among end user, homecare settings segment held dominant position in the global injectable drug delivery market in 2018, as it is a cost-effective and reliable home-based care for treating chronic conditions
- Some of the major players operating in the global injectable drug delivery market include Becton, Dickinson and Company, Pfizer Inc., Novo Nordisk A/S, Gerresheimer AG, Carl-Zeiss-Stiftung, Terumo Corporation, Vetter Pharma-Fertigung GmbH & Co. KG, SHL Group, Owen Mumford Limited, and Injex Pharma GmbH.
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