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Injectable Drug Delivery Market
Across the globe,the injectable route of drug administration is the most widely applied method of drug deliveryafter oral drug administration method. Growth in injectable drug delivery technologies market is likely to be hinged at China, India, Brazil, and Mexico in the coming years as the U.S. and European marketreaches maturation. Growing incidence of cancer, and diabetes, rapid urbanization, improving healthcare infrastructure, andrising need for better technologies are pivotal factors driving the injectable drug delivery technologies market in these regions. According to the WHO, Asia’s prevalence of cancer deaths may increase by 45% to 163 per 100,000 people by 2030, from about 112 per 100,000 people in 2005. At this rate it would overtake the U.S. (for the same period), wherecancer-related deaths are expected to rise to 156 per 100,000 people from 136 per 100,000 people.Knowing these facts, the major players in the injectable drug delivery market are strategically focusing on the Asian market,in orderto cater to the burgeoningdemand of injectable formulations and devices. Firms operating in the market are strategically opening new facilities and sales offices or collaborating with local playersto gain access to these markets.
China is the world’s new diabetes capital with a count of more than 92 million diabetic adults. The drug companies are expanding their facilities in China in orderto meet the anticipated demand of injectables devices and formulations. In May 2012, the French pharmaceutical giant Sanofi inaugurated a $90 million assembly plant in Beijing, for manufacturing pre-filled insulin-injection pensnamedLantus SoloSTAR. Novo Nordisk (Denmark), which is one of the leading injectable drug delivery companies,invested additional $100 million to expand its state-of-the-art science facilities in Beijing, China. The investment aims to capture innovations from Chinese scientists to address the growing burden of diabetes and other chronic diseases throughout the world.
Government support is another significant factor providing impetus to the injectable drug delivery technologies market.The emerging regions have less stringent norms as well as require low capital for development of new technologies. The governments undertake several steps to further encourage the R&D activities in their respective regions. The government of China is offering tax rebates to those investing in R&D in the country, thus luring injectable companies to set their R&D base in China. The Mexicangovernment has developed adaptive regulatory policies such as 11 Free Trade Agreements and trade relations with over 40 countries.In August 2011, BD Medical launched the BD Emerald Syringe portfolio,to cater to growing needs in medication delivery. The BD Emerald Syringes ismanufactured at facilities in Spain, India, and Brazil.
Apart from manufacturing opportunities, these regions also provide a sizeable market for self injectable drug delivery devices particularly the insulin pens. China and India togetheraccount for ahuge diabetic patient’s population base. The self injectable drug delivery technology is dominated by insulin pen injectors, which is mostly used for treatment of diabetes.Improving healthcare facilities coupled with incessantly rising pool of diabetic patients is likely to generate direct revenues for the companies conducting business in these areas.
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Injectable Drug Delivery Market by Formulations [Liposomes, Microspheres, & Nanoparticles], Devices [Disposables & Reusable, Fillable & Prefilled, Pen, Needle Free & Auto Injectors] & Therapeutics [Diabetes & Oncology] - Global Forecasts to 2017
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