Sarasota, FL, Oct. 10, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Injectable Drug Delivery Market (Device and Formulations) for Hospitals, Homecare, and Other End-user: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, the global injectable drug discovery market was valued at approximately USD 328.20 million in 2015 and is expected to reach approximately USD 640.50 million by 2021, growing at a CAGR of around 11.8% between 2016 and 2021.
Injectable drug delivery plays an important role in pharmacotherapy due to its rapid onset of action. Several drugs, predominantly peptides, pharmaceutical agents, protein and other therapeutics agents, can only be administered by injectable routes. The parenteral administration route is one of the most common and efficient drug delivery forms.
The increase in the number of chronic diseases like cancer and diabetes coupled with the need for drug delivery systems is expected to boost the market growth in the coming years. Moreover, the advancements in technological processes have resulted in the development of advanced devices that are specially made to the specific category of patient care in question. Additionally, technological advancement like dual-injectables has further enhanced the method of drug delivery performed by injectables. Thus, these noteworthy changes are expected to boost the market growth in the years to come. However, healthcare awareness regarding infections and injuries caused by the needles used in syringes are key restraining factor of injectable drug delivery market. Nonetheless, the rise in demand for biosimilars and generic injectables is expected to open up new growth opportunity within the forecast period.
Browse through 27 Market Tables and 15 Figures spread over 110 Pages and in-depth TOC on “Global Injectable Drug Delivery Market: By Type, Devices, Application, Size, Share, Trends, Analysis and Forecast 2015-2021”.
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Based on types, the market has been segmented into device and formulation. The devices segment is bifurcated into self-injection devices and conventional injection devices. Self-injection devices include needle-free injectors, auto-injectors, pen-injectors, and others. A device that includes self-injection devices is expected to witness the fastest growth in the years to come. Formulations are further segmented into conventional drug delivery, novel drug delivery, and others. The formulation is another key outlet of this market and is anticipated to show significant growth in the years to come.
Hospitals, homecare, and others are key end-users in the global injectable drug delivery market. Homecare was the leading segment due to increasing incidences of diabetes diseases. The increasing diabetic patients worldwide have allowed the key participant in this market to launch advanced devices for the administration of insulin with the help of self-injection device. Thus, homecare segment is expected to exhibit noticeable growth in the years to come.
Browse the full "Injectable Drug Delivery Market (Device and Formulations) for Hospitals, Homecare, and Other End-user: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/injectable-drug-delivery-market
In terms of revenue, North America held the largest market share of the global injectable drug delivery market and is set to continue its dominance in the world marketplace in the years come. The injectable drug delivery market is driven by the presence of research labs and production facilities of major manufacturers in this region. The rising numbers of big pharmacy firms and an increase in partnerships, collaborations, and acquisitions among prominent players in the U.S. are some of the key factors that are expected to fuel the market growth in this region.
In terms of revenue, North America was followed by Europe in 2015. Europe was the second largest regional market and is expected to witness substantial growth within the forecast period. This growth is mainly attributed to the increasing incidence rate of chronic diseases coupled with health awareness among people. Moreover, the adoption of new technologies is expected to witness significant growth in the years to come. Moreover, growing demand for self-injection devices, emphasis on the innovation of formulations coupled with technological advancements are expected to drive the demand for injectable drug delivery market in Europe.
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Asia Pacific is expected to be the fastest growing market in near future. Injectable drug delivery market has the huge opportunity in the emerging markets of Asia Pacific due to the increasing population, rising incidence rate of chronic diseases, coupled with the rising health awareness among people, especially in China and India.
The Middle East & Africa regional market is expected to witness moderate growth in the near future. Increasing population coupled with growing incidences of chronic disease like diabetes and cancer. Latin America is another important regional market and is expected to experience significant growth over the forecast period. The growth is mainly due to technological advancement.
Some of the key players in the global injectable drug delivery market include Pfizer, Inc., Baxter International, Inc., Terumo Corporation, Becton, Dickinson and Company, Schott AG among others.
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This report segments the global injectable drug delivery market as follows:
Global Injectable Drug Delivery Market: Type Analysis
- Conventional Injection Devices
- Self-Injection Devices
- Conventional Drug Delivery
- Novel Drug Delivery
Global Injectable Drug Delivery Market: End-user Segment Analysis
- Home Care
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Global Injectable Drug Delivery Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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