(EMAILWIRE.COM, May 04, 2018 ) Injectable Drug Delivery Market was worth USD 362.38 billion in 2016 and estimated to be growing at a CAGR of 11.5%, to reach USD 624.51 billion by 2021.

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Injectable drug delivery technologies allow the transport of drugs detailed in fluid form and encourage the fast transport of the drug into the body. It likewise helps in managing drugs in comatose and unconscious patients. These delivery frameworks are generally accepted because of their recognition of a faster onset reaction with high adequacy. Also, in the recent years, this market has developed because of the expanded predominance of cancer and diabetes.

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The key factors driving the Injectable Drug Delivery Market are Increased prevalence of chronic diseases, Technological advances in the form of nanotechnologies, Rising demand for biologics in the pharmaceutical industry and Increased patient compliance. The Restraining factors affecting the IDD market include Possibility of injuries and infections via usage, Product recalls, Emergence of alternative drug delivery systems, Regulatory framework concerns.

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Injectable Drug Delivery Market is segmented into Device Type, Formulation, Therapeutic Use, End-user, Region. On the basis of Device type, the market is segmented into Self-Injection Devices, Conventional Devices. On the basis of Formulation, the market is segmented into Conventional Drug Delivery, Novel Drug Delivery. On the basis of Therapeutic Use, market is divided into Autoimmune Disorders, Hormonal Disorders, Oncology. On the basis of end user, the market is further divided into Hospitals, Homecare Settings, Research Institutes, Clinical Laboratories. On the basis of geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. Injectable Drug Delivery Market was dominated by North America, with the overall market share of over 35% globally. North America was followed by Europe and Asia-Pacific. Asia Pacific is predicted to grow at a rapid pace in the coming few years.

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Some of the major companies dominating the market, by their products and services include Alkermes Inc., Bend Research, BIND Biosciences, Inc., Endocyte, Genentech Inc., MicroCHIPS, Inc., Pearl Therapeutics Inc., Polymer Factory, Presage Bioscience, QLT Inc., UCB Group.

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