Injectable device market to stick around

Injectable device market to stick aroundInjectable device market to stick around

A recent global analysis projects about devices that inject, ultimately sticking the injectable drug delivery market with considerable worth -- around $43 billion -- come 2017. 

Following the examination of significant market drivers, restraints and opportunities in the realm of injectable devices for North American, Europe, Asia-Pacific locales and the remaining regions of the world, MarketsandMarkets research team calculated that the industry subset would rise from a $22.5 billion value in 2012 to nearly double that amount by 2017, with a compound annual growth rate of 14.0 percent. North America is the dominant party, with 41.3 percent of the market share in 2012, while Europe holds down the second slot (30.2 percent). However, Asian and Latin American countries are representative of the most rapidly growing markets, having more instances of cancer and diabetes, as well as a push toward more patient compliance. 

The analysis methodology was broken down by the report as such: “The injectable drug delivery technologies market is broadly categorized into two major segments, namely, devices technologies and formulation technologies. Based on product, the injectable drug delivery devices technologies market is further categorized into conventional injection devices, self-injection devices, and others (microneedles, nanoneedles and blunt needle injections), while the injectable drug delivery formulation technologies market is categorized into conventional drug delivery formulations and novel drug delivery formulations.”

Inherently multifaceted, different devices and aspects of the injectables market are expected to provide more growth than others. Based on therapeutic applications, implements utilized in the treatment of hormonal disorders held down a considerable share in 2012 — 50 percent of the total share, the report noted. But, with more world citizens suffering from auto-immune disorders, that area of injectables is expected to be the fastest growing, specifically via biologics (tumor necrosis factor (TNF) and Interleukin 1 (IL-1)) and improving patient compliance by the development of self-injection devices. Agents of change such as innovation, company partnerships and pending company developments were all taken into consideration for the report alongside the possibility for recalls, needle-stick injuries and infections arising from the use of a product.

The North American market alone is anticipated to expand from $9.3 billion in 2012 to $16.6 billion by 2017, with the United States being the prime proponent of such growth (as it was in 2012).

Major vendor players globally were listed as follows:

  • Eli Lilly & Co. (U.S.)
  • Sanofi (France)
  • Novo Nordisk A/S (Denmark)
  • Baxter International Inc. (U.S.)
  • Becton Dickinson & Co. (U.S.)
  • Hospira Inc. (U.S.)
  • West Pharmaceutical Services, Inc. (U.S.)
  • Unilife Corporation (U.S.)
  • Antares Pharma Inc. (U.S.) and
  • Zogenix, Inc. (U.S.) among others.

Find a copy of the report here.

Image courtesy of Armin Kulbelbeck via Creative Commons licensing.