Dallas, TX (PRWEB) April 04, 2013
The global injectable drug delivery technologies market was valued at $22.5 billion in 2012, and is expected to reach $43.3 billion by 2017 at a CAGR of 14.0% from 2012 to 2017. Injectable drug delivery technologies are the combination of two major segments; devices and formulations. The global injectable drug delivery formulations technologies market was the largest segment in this market. This is due to surge of biologics and development of nanotechnologies. In addition, the market is segmented on the basis of its therapeutic applications. In therapeutic area, hormonal disorders command the major segment of injectable drug delivery technologies market due to high demand of injectable in treatment of diabetes. However, auto-immune diseases are the fastest growing segment of this market due to the advent of biologics (tumor necrosis factor (TNF) and Interleukin 1 (IL-1)) and improving patient compliance by the development of self injection devices.
The growth of the injectable drug delivery technologies market is primarily triggered by product life cycle management, technological advancements, surge of biologics in pharmaceutical markets, rising incidences of cancer and diabetes at global level and improving patient compliance. The evolving opportunities in this market for manufacturers include development of biosimilars in pharmaceutical markets and focus of pharmaceutical manufacturers towards emerging markets such as, India, and China. However, factors such as needle-stick injuries and infections, development of alternate delivery methods and product recalls are restraining the growth of the market.
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North America accounted for the largest market share of 41.3% of the global injectable drug delivery technologies market, followed by Europe (30.2%) in 2012. However, the region lags behind Europe in the self injection devices market. This is owing to low penetration rate of pen injectors in the U.S. Asian and Latin American countries represent the fastest growing markets due to growing number of cancer and diabetes incidences, and improving patent compliance. Furthermore, stringent regulatory policies for approval of medical devices, and high competition in mature countries will compel the companies to focus on the emerging markets in Latin America and Asia.
Scope of the Report
This research report categorizes the global injectable drug delivery technologies market into two segments, namely, global injectable drug delivery devices technologies and global injectable drug delivery formulations technologies. These markets are broken down into segments and sub-segments, providing value analysis for 2010, 2011, and 2012, as well as forecast up to 2017. Each market is comprehensively analyzed by geography (North America, Europe, Asia-Pacific, and Rest of the World) to provide in-depth information on the global scenario.
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