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.
Further key findings from the study suggest:
North America is expected to lead the market for injectable drug delivery devices with the largest number of patients suffering from chronic diseases like diabetes and cancer along with autoimmune disorders. The reason why countries in North America are leading is due to the technological innovations and advanced research in the area that enable them to excel at designing new and improved drug delivery products.
The Asia Pacific market is set to lead exceptionally well owing to the partnerships with other well established global players. This region has also witnessed enormous investments in research and development; thus, accelerating the growth of the injectables market in this region.
The homecare settings has been the most profit garnering segment with a large cohort of patients suffering from chronic diseases and hence the resultant high utility of these devices at a primary level for better control and management of the disease.
Some key market players include Pfizer, Inc., Schott AG, Becton, Dickinson and Company, Baxter International, Inc., and ELI Lilly & Co.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/injectable-drug-delivery-market-analysis-by-device-type-by-formulation-by-therapeutic-use-by-end-user-application-by-region-and-segment-forecasts-from-2013-to-2024-300336872.html