SAN FRANCISCO, August 12, 2016 /PRNewswire/ --
The global injectable drug delivery market is expected to reach USD 931.1 billion by 2024, according to a new report by Grand View Research, Inc. The increase in number of chronic diseases like diabetes and cancer has fueled the need for injectable drug delivery. Unlike other traditional forms of drug delivery, injectables allow maximum bioavailability of the pharmaceutical drug as it bypasses the first pass metabolism. With substantial growth in technological advancements, the devices being manufactured and marketed are built so as to cater to the specific needs of the patients.
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With the advent of self-injection devices, injectable drugs can be self administered without the need of medical assistance. A large number of technology-oriented developments have taken place in the biologics market, which further increases the applicability of these injectable devices in the challenging disease areas. Self-injection devices have allowed patients suffering from diabetes to manage insulin levels with auto-injectors, pen-injectors, and needle-free injectors; thus, the homecare segment has been a large grosser in the end-user application.
The major restraints in this market are injuries and infections caused by needles, ambiguities related to regulatory reimbursements, sterility of the injectable drugs, and the preference of other drug delivery systems that possess less toxicity and are easy to administer. Despite these restraints, the market potential for injectable drug delivery products is tremendous with majority of the key players opting to injectables over other forms of delivery. The injectable drug delivery industry, based on product type is segmented into two sub-types namely self-injection devices and conventional injection devices. Further, on the basis of therapeutic use, the injectable drug delivery industry is segmented into autoimmune disorders, hormonal disorders, oncology, and others.
The injectable drug delivery industry by end-user application is categorized into hospitals, homecare settings, and others including research establishments, diagnostics, and clinical laboratories.
Browse full research report with TOC on "Injectable Drug Delivery Market Analysis, By Device Type (Self-injection Devices, Conventional Devices), By Formulation (Conventional Drug Delivery, Novel Drug Delivery), By Therapeutic Use (Autoimmune Disorders, Hormonal Disorders, Oncology), By End-user Application (Hospitals, Homecare Settings, Research Institutes, Clinical Laboratories), By Region (U.S, Canada, Germany, U.K, China, India, South Africa, Saudi Arabia, Brazil, Mexico) And Segment Forecasts From 2013 to 2024" at: http://www.grandviewresearch.com/industry-analysis/injectable-drug-delivery-devices-industry
Further key findings from the study suggest:
Grand View Research has segmented the global injectable drug delivery market on the basis of device type, therapeutic use, formulation, end-user application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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