The global injectable drug delivery market is $15.7B in 2017 and is estimated to grow at a CAGR of 8.53% during 2018-2023. Conventional injection devices holds the highest market share with 87% and generated revenue of 13.1B and is projected to grow with a CAGR of 7.37%. Changing healthcare models, a growing number of patients are driving the injectable drug delivery market.
What is Injectable drug delivery?
Injectable drug delivery is the injection of drugs in the patient’s body using a delivery device. With this it has become relatively easy allowing patients to administer drugs at home without medical assistance.
What are the major applications for Injectable drug delivery?
Injectable drug delivery is majorly used for different conditions that include hepatitis C, cystic fibrosis, pain, autoimmune diseases, Wilson’s disease, hormonal imbalance, hemophilia, and ribose-5-phosphate isomerase deficiency. It also helps in administering drugs in unconscious and comatose patients.
Market Research and Market Trends of Injectable drug delivery
- Advancements in technological processes have resulted in the generation of improved and enhanced devices, as well as equipment that is tailor-made and specific to different categories of patient care. In addition, technological innovations like dual-injectable have further enhanced the method of drug delivery and the development of the biologics market has led to an increase in the demand for these injectable.
- SmartDose platform is designed to easily integrate into a patient’s lifestyle. The single-use, electronic wearable injector stick to the patient’s body usually on the abdomen. It was designed for patient comfort and simplicity.
- Component manufacturers continue to develop sophisticated packaging components and delivery systems to support the requirements of complex drug products. Drive toward cleaner and more secure primary containment systems that avoid interaction with the drug product and maintain the drug product's purity and effectiveness over time.
Who are the Major Players in Injectable drug delivery market?
The companies referred in the market research report includes Baxter international, Terumo Corp, Schott AG, SHL group, Owen Mumford ltd, Sanofi, Novo nordix.
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