Global Injectable Drug Delivery Market, by Device Type (Prefilled Syringes, Autoinjectors, Pens, Conventional Syringes, Cartridges, Ampoules, Vials, and Others), by Material Type (Glass and Plastic), by Usability (Disposable and Reusable), by Route of Administration (Intravenous, Intramuscular, and Subcutaneous), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 15,939.0 million in 2017, and is projected to exhibit a CAGR of 8.3% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing product approval and launch by market players to augment the market growth
Key players in the market are focused on development of product and approval from regulatory authorities, in order to cater to the demands of patient diagnosed with chronic diseases. For instance, in October, 2018, Genentech announced 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 European Commission, thereby offering additional treatment options for patients with type-2 diabetes.
Moreover, the market players are focused on increasing production capacity and facility launch to expand their offerings and services, which is expected to boost the market growth. 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.
Furthermore, increasing awareness regarding safety and concern for needlestick injuries is a major factor driving 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.
Browse 38 Market Data Tables and 32 Figures spread through 262 Pages and in-depth TOC on ‘Injectable Drug Delivery Market’- Global Forecast to 2026, by Device Type (Prefilled Syringes, Auto Injectors, Pens, Conventional Syringes, Cartridges, Ampoules, Vials, and Others), by Material Type (Glass and Plastic), by Usability (Disposable and Reusable), by Route of Administration (Intravenous, Intramuscular, and Subcutaneous), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players in the market are focused on adopting 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 agreement, the latter will distribute ClickZip Needle Retractable Safety Syringe in New Zealand and Australia.
Key Takeaways of the Global Injectable Drug Delivery Market:
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