Global Injectable Drugs Market 2017-2021
About Injectable Drugs
Injectable drugs are directly infused into the body with the help of a syringe and a hollow needle. Various modes of infusion are used for the drug delivery. Among them, subcutaneous (SC), intramuscular (IM), and intravenous (IV) are the three major modes. The market encompasses drugs that are used for the prevention and cure of various diseases, and are mainly of two types, namely, biologics and small molecule drugs.Technavio’s analysts forecast the global injectable drugs market to grow at a CAGR of 8.21% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global injectable drugs market for 2017-2021. To calculate the market size, the report considers the sales of vaccines, branded, generic, and off-label drugs.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Injectable Drugs Market 2017-2021
Technavio recognizes the following companies as the key players in the global injectable drugs market: AbbVie, F. Hoffmann-La Roche, GlaxoSmithKline, and Sanofi.
Other Prominent Vendors in the market are: Bayer, Bristol-Myers Squibb, Merck, Takeda Pharmaceutical, and Teva Pharmaceutical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in industry-academia collaboration. The key players in the injectable drugs market, especially vaccines market, are increasingly extending their support to academic institutions to support the R&D of innovative products for diabetes care. Such collaborations enable the amalgamation of research expertise of academic institutions with the marketing intelligence of pharma companies, besides providing funds for conducting the trial studies.”
According to the report, one driver in the market is escalation in demand for self-injection devices. There has been a rise in the demand for self-injection devices in the recent years, owing to the factors such as the high demand for diabetes and other hormone replacement therapies. Diabetes is turning to be one of the most serious health concerns in the people across the world. It was estimated that, in 2015, approximately 400-425 million of the adult population were having diabetes. If this uncontrolled blood sugar stays for a longer period, it can affect the quality of life and can even lead to a slow death in longer duration. For instance, around 1.45 million people die due to diabetes each year.
Further, the report states that one challenge in the market is high cost of production. The injectable drugs come up with high operational costs, which further increases the final cost of the products. There are a large number of factors, which contribute to the high price of the injectable drugs, more specifically the vaccines. It was estimated that the development of a single vaccine costs around $1 billion-$2 billion. High failure rates associated with vaccine development are majorly responsible for the increased production cost of the vaccines. The approval rate by the FDA is extremely low compared with the number of molecules present in the clinical trials.
AbbVie, F. Hoffmann-La Roche, GlaxoSmithKline, Sanofi, Bayer, Bristol-Myers Squibb, Merck, Takeda Pharmaceutical, and Teva Pharmaceutical.
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