The size of the Asia Pacific Injectable Drug Delivery Market was valued at USD 11705.54 million in 2022. It is further estimated to be growing at a CAGR of 12.15% and worth 20767.68 million by 2027.
The increasing emergence of chronic diseases, better investment in the field of research and development, the growth of the biologics market, and the availability of new technological advanced products are likely to enhance the growth of the APAC injectable drugs delivery during the forecast period. Over the years, the use of injectable contraceptives has increased dramatically. This increased use of injectable contraceptives can be attributed mainly to their high effectiveness. These can be given a few times a year and are considered one of the safest methods to prevent pregnancy; owing to the growth, the demand for injectable contraceptives is estimated to drive the market in the future.
The increasing demand for biosimilar and generic injectable drugs will generate several opportunities, which will lead to the growth of the APAC injectable drug delivery market during the forecast period mentioned above. The increasing incidence of cancer and diabetes contributes to the market due to efficient and targeted drug delivery with minimal side effects on the body. According to the GLOBOCAN report, approximately 4,286,666 new cancer cases were diagnosed in China in 201, of which 2,367,500 were men and 1,919,500 were women. In addition, innovations, technological advancements, and promotion of new products driven by key manufacturers in the APAC market, the wide range of manufacture and development will achieve positive market growth.
Although the injectable mode of drug administration has excellent benefits, they also pose specific risks and complications with improper use of the devices. Factors such as needle stick injuries and infections, needle phobia, anxiety, and pain limit the APAC market to some extent. To avoid these errors, skilled professionals are needed, and the lack of them has further been estimated to restraint the growth rate of the market. Additionally, preference for other drug delivery routes such as inhalation, topical route of application is a significant challenge for the APAC injectable drug delivery market.
This research report on the Asia Pacific injectable drug delivery market has been segmented and sub-segmented into the following categories:
By Device Type:
By Therapeutic use:
By End User:
The Indian injectable drug delivery market is expected to register a CAGR of 8.5% during the forecast period and be the most dominating market in the APAC injectable drug delivery market. According to the American College of Cardiology journal published in 2018, the cardiovascular disease contributes to the highest number of deaths in the region. The death rate from cardiovascular diseases has seen a steady increase over the past several years by approximately 35% since 1990. High incidence of chronic disease, large pharmaceutical sector, growing patient base, and development in technology and healthcare system are factors responsible for driving the demand for injectable drug delivery systems in India. In addition, in India, the treatment of cardiovascular disease includes the administration of nanoparticle drugs as the preferred treatment option. This factor is also responsible for supplementing the growth of the market.
The regional market growth in Japan can be attributed to the high rate of asthma patients due to the high proportion of the elderly population. In addition, the government of Japan has adopted some cost-effective measures such as promoting generic drugs and reduction in medicine prices. The growing demand for generic medicines has prompted major international pharmaceutical companies to join; these factors are projected to drive market growth.
The injectable drug delivery market in China will dominate the APAC market by approximately 28% over the analysis period. This regional market growth can be due to the increasing prevalence of chronic diseases, large population, availability of cheaper and effective geriatric drugs, and high investments in the research and development sector. In addition, China is the world market for raw materials and manufacturing. This factor plays a key part in increasing growth opportunities for injectable drug delivery technologies in the country. This drives the growth of the APAC injectable drug delivery market during the forecast period.
KEY MARKET PLAYERS:
Companies playing a noteworthy role in the Asia Pacific Injectable drug delivery market profiled In the report are Antares Pharmaceuticals Ltd, Baxter International, Becton Dickinson Company, Elcam Medical, Eli Lily and Company, Unilife Corporation, and West Pharmaceutical Inc.
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