Injectable Drug Delivery Industry Insights: Major Factors Responsible For The Global Growth

The report "Injectable Drug Delivery Market by Type (Device, Formulation), Therapeutic (Cancer), Usage Pattern (Immunization), Administration (Skin, Musculoskeletal), Distribution Channel (Hospital), Patient Care Setting (Hospital, Home Care) - Forecast to 2021", The global Injectable drug delivery market, in terms of value, is projected to reach USD 624.50 Billion by 2021 from USD 362.38 Billion in 2016, at a CAGR of 11.5% during the forecast period.

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The global injectable drug delivery market is witnessing growth due to factors such as increasing prevalence of chronic diseases, rising aging population, increase in use of biologics, and increasing number of needlestick injuries. The injectable drug delivery is segmented based on type, formulation packaging, therapeutic application, usage pattern, site of administration, distribution channel, facility of use, and regions.

On the basis of therapeutic applications, the market is segmented into autoimmune diseases, hormonal disorders, cancer, orphan diseases, and other therapeutic applications. Cancer segment is expected to register the highest CAGR during the forecast period. This is attributed to the launch of new vaccines and target therapies, such as antiangiogenics and antineoplastic monoclonal antibodies (mAbs).

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By type, the market is segmented into formulations and devices. Formulations are the fastest-growing segment due to rising demand for biologics. Based on formulation packaging, the market is segmented into ampules, vials, cartridges, and bottles. Ampules are the fastest-growing segment due to ease of transportation and low cost of manufacturing.

On the basis of distribution channel, the market is segmented into hospitals and pharma stores. Hospitals are the fastest-growing segment as hospitals provide injectables to inpatients as well as to outpatients, owing to which there is maximum sale of injectable formulations and devices through hospitals.

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By usage pattern, the market is segmented into curative care, immunization, and others. Curative care is the fastest-growing segment due to the fact that majority of the injections are administered for therapeutic (curative) purposes, rather than immunization (Source: WHO). The factor that drives the growth of this segment is the increasing healthcare access in many countries coupled with the rising prevalence of various diseases.

Based on site of administration, the market is segmented into skin, circulatory/musculoskeletal system, organs, and central nervous system (CNS). By facility of use, the market is segmented into hospitals and clinics, home care settings, and other facilities of use.

Asia is projected to be the fastest-growing region in the injectable drug delivery market from 2016 to 2021 due to rising incidence of chronic diseases and growing aging population. In addition, high penetration of self-injection technologies in Asian countries such as China, Japan, and India adds to the demand for injectable devices.

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