Injectable drug delivery technologies permit the transport of drugs in fluid form and encourage the quick transport of the drug into the body. It likewise helps in managing the medication in comatose and unconscious patients. These delivery frameworks are typically accepted as a result of their recognition of a more rapid onset reaction with high adequacy.
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The Global injectable Drug Delivery Market was valued at USD 362.38 billion in 2016 and is projected to be growing at a CAGR of 11.5%, to achieve USD 624.51 billion by 2021. The ongoing process of modernization in hospital infrastructure and healthcare processes are the main reason behind the high projected market growth.
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In the recent years, the utilization of injectable drug delivery has augmented because of increasing incidences of cancer and many types of diabetes. Technological advancements, rising patient compliance, helpful compensation policies, and also the rise of biologics within the pharmaceutical market are a number of the key factors driving the expansion of the global injectable drug delivery market.
Increasing healthcare awareness and increasing geriatric population also fuel the expansion of the worldwide injectable drug delivery market. The increasing prevalence of needle stick injuries, and also the advantages of injections which include convenience, ease of use, and reduced pain, act as the important factors driving the expansion of the global injectable Drug Delivery Market by creating the required demand.
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On the premise of geography, the global market is analyzed under varied regions North America, Europe, Asia-Pacific and rest of the world. Injectable Drug Delivery Market was dominated by North America, accounting for more than one-third in the global market share.
The most important players on the global market scape are Alkermes Inc., Bend Research, BIND Biosciences Inc., Endocyte, Genentech Inc., MicroCHIPS Inc., Pearl Therapeutics Inc., Polymer Factory, Presage Bioscience, QLT Inc., and UCB Group.
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