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Injectable Drug Delivery Market Plying for Significant Growth During 2015 to 2021
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North America dominates the global market for injectable drug delivery due to a large aging population and increasing incidences of diabetes. Asia is expected to witness high growth rates in the next five years in the global injectable drug delivery market. China and India are expected to be the fastest-growing injectable drug delivery markets in Asia Pacific. Some of the key driving factors of the injectable drug delivery market in emerging countries are a large pool of patients, increasing healthcare expenditure, rising focus of various huge players, increasing healthcare awareness, and rising government funding.
In the recent years, the use of injectable drug delivery has increased due to increasing incidences of cancer and diabetes. Technological advancements, improving patient compliance, beneficial reimbursement policies, and rise of biologics in the pharmaceutical market are some of the key factors driving the growth of the global injectable drug delivery market. In addition, increasing healthcare awareness and increasing geriatric population are also fueling the growth of the global injectable drug delivery market. However, needlestick injuries and infections, and introduction of alternative drug delivery methods are some of the major factors restraining the growth of the global injectable drug delivery market. In addition, regulatory requirements for the approval of devices would also restrain the growth of the global injectable drug delivery market.
Less stringent regulatory policies and less data requirement for approval of devices are expected to drive the growth of the injectable drug delivery market in Asia. Development of biosimilars in the pharmaceutical market would create opportunities for the global injectable drug delivery market. However, high manufacturing cost and sustainability of players in the highly competitive market could pose a challenge for the global injectable drug delivery market.
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Innovations in injectable drug delivery systems are the trend for the global injectable drug delivery market. Some of the major companies operating in the global injectable drug delivery market are Nova Nordisk A/S, Sanofi, Crossject, Eli Lilly and Company, Baxter International, Inc., Becton, Dickinson and Company, InjexPharma GmbH, Elcam Medical, Unilife Corporation, West Pharmaceutical Services, Inc., and Vetter Pharma-Fertigung GmbH & Co. KG.
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