24 November 2020: The injectable drug delivery (IDD) market is expected to witness considerable growth on account of increasing need for drug delivery systems and rising instances of chronic diseases like diabetes and cancer. Injectables are used for the treatment of diseases such as cystic fibrosis, Wilson’s disease, autoimmune diseases, hemophilia, hepatitis C, etc. as they offer a faster course of action. Comatose and unconscious patients are administered these drugs over other modes of drug delivery.
Due to the effectiveness and speed of delivery, the target injectable drug delivery system provides improved patient experience and is one of the most effective routes of administration. The advancements in technology are promoting the global injectable drug delivery market. With regulatory government norms, there is a greater emphasis on companies to stay updated with the latest developments in order to mitigate the challenges within the industry and remain compliant to gain the edge over competitors.
R&D Investments Boost Drug Delivery System
On the basis of product, the injectable drug delivery market is segmented into formulations and devices. Conventional injection devices and self-injection devices are two segments of devices. Devices that are designed for self-injection include auto-injectors, pen-injectors, needle-free injectors, and others.
On the basis of formulations, the injectable drug delivery market is categorized into conventional drug delivery, novel drug delivery, and others. The conventional drug delivery systems include emulsions, reconstituted lyophilized formulations, solutions, and suspensions. Novel drug delivery systems include colloidal dispersions, which are niosomes, liposomes, mixed micelles, polymeric, and nanoparticles. Microparticles are designed specifically for the rapid absorption of the drug at the target location. Use of colloidal dispersions in the drug delivery systems has been rising significantly owing to rising investments by manufacturing companies in their R&D.
The fastest gaining segment of the injectable drug delivery market includes devices that are mostly self-injection devices. At the primary level, the usage of these devices promote the control and management of various disorders.
Market Insights
The increasing instances of diabetes and cancer in recent years and rising use of injectable drugs in their treatment and the current trends in developing safety syringes, prefilled syringes, and auto-injectors are amplifying the market growth.
In order to ease their manufacturing and distribution processes, major companies in the market have entered into consolidated partnerships for certain products. Leading companies in the injectable drug delivery market include like Baxter International, Inc.; Pfizer, Inc.; Becton; Terumo Corporation; Schott AG; Dickinson and Company; and among others.
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