The Europe injectable drug delivery technology market is expected to register a CAGR of around 11% during the forecast period of 2018-2023. Injectable drug delivery technologies allow the transport of drugs formulated in liquid form and facilitate the rapid transport of the drug into the body. They also help administer drugs in unconscious and comatose patients. Due to their advantages of faster onset of action with high efficacy, these delivery systems are widely accepted. Additionally, due to the increased prevalence of cancer and diabetes, the market has registered growth in the recent years.
Increasing Prevalence of Chronic Diseases to Boost the Market
Some of the most common chronic diseases include - heart disease, stroke, type 2 diabetes, obesity, cancer, and arthritis. According to a report by OECD/European Commission, in 2016, around 550,000 premature deaths across the European Union were attributed to chronic diseases, including heart attacks, strokes, diabetes, and cancer. As the adoption rate of injectable drug delivery devices is high among the population suffering from diseases, like diabetes and heart-related disorders, the increasing prevalence of chronic diseases is expected to contribute to the growth of the injectable drug delivery technology market over the forecast period.
The convenience of handling syringes and the automation of dispensing the drug in exact proportions are also contributing to the growth of the market.
Injuries and Infections Caused by Needles
Injuries and infections caused by needles are acting as major restraints for the global injectable drug delivery technology market. The European Biosafety Network estimated that in 2007, there were more than 1 million needle stick injuries annually, in Europe alone. The WHO has estimated that these numbers are expected to increase by at least 20%, over the next five years. Moreover, there has been an increase in the number of infections caused by needles over the past few years. Therefore, with the increasing injuries and infections caused by needles, there is a reluctance among the population to use injections, thus hampering the growth of the global injectable drug delivery technology market.
The growing use of alternative drug delivery methods, along with safety concerns associated with the use of injections, are restraining the market.
Germany Leads the European Market
The German segment of the injectable drug delivery technology market accounted for the largest share in 2017 in Europe, due to the increasing prevalence of chronic diseases, such as cancer and diabetes in this region and technological advancements.
Key Developments in the Market:
- April 2017: BD (Becton, Dickinson and Company) and C R Bard Inc. have entered a definitive agreement.
Major Players: Baxter International Inc., Becton, Dickinson and Company, Eli Lilly and Company, Gerresheimer AG, Schott AG, Novatis AG (Sandoz), MicroCHIPS Inc., and Pearl Therapeutics Inc., among others.
Reasons to Purchase this Report
- Current and future Europe injectable drug delivery technology market outlook in the developed and emerging markets.
- Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
- The segment that is expected to dominate the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares. and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increasing Prevalence of Chronic Diseases
6.1.2 Benefits and Convenience Offered by Injections
6.2 Market Restraints
6.2.1 Injuries and Infections Caused by Needles
6.2.2 Growing Use of Alternative Delivery Methods
6.2.3 Safety Concerns
6.4 Key challenges
7. Market Segmentation
7.1 By Type
18.104.22.168 Self-injection Devices
22.214.171.124 Conventional Injection Devices
126.96.36.199 Conventional Drug Delivery
188.8.131.52 Novel Drug Delivery
184.108.40.206 Other Formulations
7.2 By Application
7.2.1 Cardiovascular Disease
7.2.3 Regenerative Medicine
7.2.5 Autoimmune Disorders
7.2.6 Hepatitis B
7.2.7 Other Applications
7.3 By Geography
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
8. Competitive Landscape
8.1 Merger & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Product Launches
9. Key Players
9.1 Baxter International Inc.
9.2 Becton, Dickinson and Company
9.3 Eli Lilly and Company
9.4 Gerresheimer AG
9.5 Schott AG
9.7 MicroCHIPS Inc.
9.8 Pearl Therapeutics Inc.
*List Not Exhaustive
10. Future of the Market