The rising prevalence of cancer is one of the major factors driving the global injectable drugs delivery market. Furthermore, governments all over the world are contributing to the worldwide injectable drug market’s expansion.
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The government is investing extensively in the development and commercialization of innovative injectable drugs delivery. The fierce battle in the worldwide injectable drugs delivery market is united in form due to the vast product range and impressive distribution network of significant enterprises in both emerging and existing nations. Significant expenditure for the development of novel and cutting-edge technology, as well as the introduction of distinctive goods such as sophisticated wearable devices and gadgets, are some of the principal methods used by big market players.
Regional Snapshot
North America is the largest segment for injectable drugs delivery market in terms of region. The rising prevalence of various illnesses is being blamed for the expansion of the injectable drugs delivery market in the North American area. Furthermore, the market for injectable drugs delivery in North America is growing due to increased adoption of tactics by industry participants.
Europe region is the fastest growing region in the injectable drugs delivery market. The UK hold the highest market share in the Europe injectable drugs delivery market. Factors like the increase of the biologics market, the rising frequency of chronic illnesses, and the expanding demand for self-injection devices are all contributing to this trend in the European injectable drugs delivery industry. Other reasons driving the expansion of the injectable drugs delivery industry in Europe are rising disposable income, increased partnership numbers, and more awareness of safety and comfort.
Report Highlights
[*]On the basis of type, devices segment holds the largest market share in the global injectable drugs delivery market. As the prevalence of chronic illnesses rises, so does the use of needles in general, particularly disposable syringes. Because population growth is thought to be the most important element in emerging countries, it is likely to have the high effect on the segment.
[*]On the basis of therapeutic application, auto-immune diseases segment holds the largest market share in the global injectable drugs delivery market. In auto-immune illnesses, the immune system targets and kills its own body tissue. Among the most common are lupus and diabetes.
[*]On the basis of distribution channel, hospitals segment holds the largest market share in the global injectable drugs delivery market. The surge in number of persons admitted to healthcare centers such as hospitals with chronic and acute wounds is to blame.
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Market Dynamics
Drivers
Surge in demand for contraceptive drugs
In 2012, over 1,697,000 women in the U.S. utilized injectable contraception, as per the Guttmacher Institute. The injectable contraceptives have become increasingly popular throughout the years. The great effectiveness of injectable contraceptives accounts for the rising use of these products. As a result, surge in demand for contraceptive drugs is driving the growth of global injectable drugs delivery market.
Restraints
Growing preference for other mode of delivery
The injectable drugs delivery administration provides a high surface area for absorption, allowing for rapid systemic administration. The injectable drugs delivery, however, cause needlestick infections and injuries, as well as needle fear and pain. To some extent, all of these constraints are restricting the growth of global injectable drugs delivery market.
Opportunities
Rising market for biologics
As per the Economist, over 900 biologics are being developed in the U.S. for the treatment of over 100 disorders. Biologics are the fastest growing section of the pharmaceutical industry, as per the American Journal of Managed Health Care. According to a PHARMAC report, worldwide expenditure on all medications climbed by 24% between 2007 and 2012, but expenditure on biologics rose by 367% within the same time period. Thus, rising market for biologics is supporting the growth of worldwide injectable drugs delivery market.
Challenges
Product recall
When a product is evoked, the procedure of collection and replacement the faultyproducts can result in substantial losses for the firm or supplier. These massive losses will have an influence on the company’s market share and revenue share, which will have an impact on the growth of the global injectable drugs delivery market over the projected period.
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Recent Developments
[*]Taisei Medical Co. Ltd and Gerresheimer Medical Co. Ltd augmented their partnership in 2016 with the goal of marketing ClearJect syringes and providing technical assistance to customers. In addition, the business plans to expand its COP syringe line in conjunction with Taisei Medical by developing a new Gx RTF ClearJect brand that combines ClearJect with its glass ready to fill approach. In the syringes industry, this agreement is likely to support the firm increases its product line and consumer base.
[*]BARHEMSYS was released in the U.S. by Acacia Pharma Group PLC in August 2020 for deliveries and orders through key distributors and wholesalers.
Market Segmentation
By Type
[*]Devices
[*]Formulations
By Formulation Packaging
[*]Ampules
[*]Vials
[*]Cartridges
[*]Bottles
By Therapeutic Application
[*]Auto-immune diseases
[*]Hormonal Disorders
[*]Orphan Diseases
[*]Oncology
[*]Other Therapeutic Applications
By Usage Pattern
[*]Curative Care
[*]Immunization
[*]Other Usage Pattern
By Site of Administration
[*]Skin
[*]Circulatory/Musculoskeletal
[*]Organs
[*]Central Nervous System
By Distribution Channel
[*]Hospitals
[*]Retail Pharmacy Stores
By Facility of Use
[*]Hospitals & Clinics
[*]Home Care Settings
[*]Other Facilities of Use
By Geography
[*]North America
[*]Europe
[*]Asia-Pacific
[*]Latin America
[*]Middle East & Africa (MEA)
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