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Small Volume Injectable Market Segmented by Product such as Ampules, Vials, Prefilled Syringes with Application includes Blood Stimulants, Therapeutic Proteins, Local Anesthetics, Vaccines
According to the latest research by Persistence Market Research, Small Volume Injectable market is set to witness a 7.1% growth during the year 2021-2031. The market is expected to witness growth owing to rise in the number of chronic diseases like cancer and diabetes, increasing preference of small volume injectable over conventional drugs and rising geriatric population. Also, rising investment by manufacturers to enlarge their business through new manufacturing facility is driving the market demand.
Factors like the increasing incidences of chronic diseases, growing geriatric population and adoption of modern techniques for drug delivery are expected to boost the demand for the market.
Rising adoption of small volume injectable over conventional drugs because of quick therapeutic response in body and high absorbability is projected to increase interest for these injectable during the forecast years. This has urged the pharmaceutical industry to focus on biologics and develop more products.
Rising prevalence of chronic diseases such as cancer is projected to boost market development during the forecast years. For instance, as per the Cancer Research UK in 2018, approximately 17 million people were affected by cancer in Europe. This rising prevalence is anticipated to boost demand for these injectable, which is additionally projected to drive the market growth during the forecast period.
Conventional vial-and-syringe drug delivery method is susceptible to handling and dosing errors, and have a higher risk of infections. On the other hand, these errors can be reduced or eliminated by using reusable glass syringes and pre-filled syringes as they are highly effective and safe mode of drug delivery to the body.
Rising patient awareness and demand for minimally invasive & convenient mode of injectable drug delivery is expected to boost the small volume injectable market growth. Moreover, the launch of low cost systems attributable to its convenience, effectiveness, and on-target delivery is boosting the market growth.
Additionally, the rapid growth of healthcare infrastructure and rising innovations for introducing novel drug delivery systems, are expected to drive the product sales, thereby helping the growth of the market during the forecast period.
The US small volume injectable market is expected to observe a robust growth in the market owing it to rising adoption of advanced injectable drug delivery technologies among cancer, diabetes and, other autoimmune disorder patients.
Additionally, therapeutic benefits and convenience of these injectable is boosting its demand thereby helping US earn the largest share in the global market. Also, increasing prevalence of cancer and diabetes patients in US and Canada adds to the growth of the market in US. As per the American Diabetes Association (ADA), around 30.3 million Americans were affected with diabetes in 2018.
Moreover, the presence of major manufacturers in US is anticipated to add to the development of the market during the forecast period.
Europe is expected to be second most lucrative region for market owing to several factors. ?The main factors responsible for the development of the European small volume injectable market are growth of the biologics market, increasing prevalence of chronic diseases, technological advancements, and increasing demand for self-injection devices.
Attributable to these factors, the interest for devices such as prefilled syringes, auto-disabled syringes, and safety syringes is increasing.
Some of the leading manufacturers and suppliers of Small Volume Injectable include
The market is consolidated in nature attributable to remarkable distribution network and strong product portfolio of major companies in both emerging and developed countries. However, the absence of strong entry barriers is anticipated to bring about rising number of domestic players entering the worldwide market. This is expected to alter the nature of the market to fragmented market to some extent market by the end of 2027.
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The report also maps the qualitative impact of various market factors on market segments and geographies.
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