Demand for Injectable Drug Delivery and Impact of COVID-19……..



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.
Unavailability of targeted therapy for CoVid-19 is forcing healthcare professionals to provide symptom-based treatment to patients. This includes a wide range of treatment options based on factors such as patient type, symptoms, and drug availability. Currently, major drugs used in the treatment of CoVid19 include Chloroquine, Hydroxychloroquine, Remdesivir, Lopinavir, Azithromycin, and Tocilizumab. Most of these drugs are available as tablets and capsules. In countries with the presence of pharmaceutical manufacturing giants, the market is expected to witness a sudden surge in the upcoming weeks. We are working to account for this surge in our estimates. The report will account for Covid-19 as a key market contributor.
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 key players in this market include companies like Pfizer, Inc., Baxter International, Inc., Terumo Corporation, Becton, Dickinson and Company, Schott AG among others. Some of the major players in the market have consolidated partnerships for certain products that allow for ease of manufacturing and distribution.
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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.
The injectable drug delivery (IDD) market was estimated at USD 331.0 billion in 2015. With an upsurge in the number of chronic diseases like diabetes and cancer, the need for drug delivery systems has risen substantially. The treatment of an increasing number of diseases,such as Wilson’s disease, autoimmune diseases, cystic fibrosis, hepatitis C, hemophilia is being carried out using injectables for a faster course of action. These drugs can be administered to unconscious and comatose patients and are hence preferred over the other modes of drug delivery.
The advancements in technological processes have resulted in the generation of improved and enhanced devices, as well as equipments that are tailor-made, specific to the category of patient care in question. In addition, technological innovations like dual-injectables have further enhanced the method of drug delivery performed by injectables and the development of the biologics market has further led to an increase in the demand for these injectables; thus, these significant changes are driving the market growth.
Infections and injuries caused by the needles used in syringes are a major restraint for this market. Contaminations arising due to previously used injectables and needle-stick injuries may cause serious complications needing further remediation and these complications often lead to further hurdles in the management of the disease. In certain cases other drug delivery methods, such as oral administration of drugs are often preferred over injections as they obviate toxicity implications. In addition, strict regulatory encumbrance further deters the use of IDD forms. Furthermore, several concerns have been raised in the recent past with respect to the sterility of injectables, which has led to a decline in the number of approved production facilities that manufacture these products and hence the resultant shortage of these drugs in the market. Despite many restraints, the market potential for IDD is immense due to the associated advantages and its wide applicability in a range of ailments. Furthermore, the market is also fueled with many major companies that are adapting to the demand of injectables over oral dosages.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-injectable-drug-delivery-market
Grand View Research has segmented the global injectable drug delivery market on the basis of device type, therapeutic use, formulation, end-user application:
Injectable Drug Delivery by Type Outlook (Revenue, USD Million, 2013 - 2024)
·         Devices
o    Self- injection devices
o    Conventional injection devices
·         Formulation
o    Conventional Drug Delivery
o    Novel Drug Delivery
o    Others
Injectable Drug Delivery Therapeutic Use Outlook (Revenue, USD Million, 2013 - 2024)
·         Autoimmune disorders
·         Hormonal disorders
·         Oncology
·         Others
Injectable Drug Delivery Devices End-User Application Outlook (Revenue, USD Million, 2013 - 2024)
·         Hospitals
·         Homecare Settings
·         Others
On the basis of product, the market is categorized into two segments, namely, devices, and formulations. The devices segment is further segmented into self-injection devices and conventional injection devices. Self-injection devices comprise of needle-free injectors, auto-injectors, pen-injectors, and others.
On the basis of formulations, the IDD market is divided into conventional drug delivery, novel drug delivery, and others. Conventional drug delivery systems include solutions, reconstituted/ lyophilized formulations, suspensions, and emulsions. Novel drug delivery systems consist of colloidal dispersions, which are liposomes, niosomes, polymeric or mixed micelles, and nanoparticles. Microparticles are designed particularly for the rapid absorption of a drug at the intended site. With the majority of the companies investing heavily in R&D, the use of colloidal dispersions in the drug delivery systems has been rising significantly.
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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