The European injectable drug delivery market has been forecast to increase at a compound annual growth rate (CAGR) of approximately 12.7% over the next five years, increasing from a value of around $6.8 billion at the end of 2012, to reach a total of $12.4 billion by 2017.
According to a recent report, 'European Injectable Drug Delivery Market: Forecasts to 2017,' Germany accounted for the largest market share within the European injectable drug delivery market in 2012, followed by France. While Germany is a mature market experiencing a surge in biologics and high incidence of chronic diseases, France is the fastest-growing region.
This is due to high insurance coverage for injectable devices and formulations, affordability for healthcare expenses, and activities such as exhibitions and conferences hosted by France that address injectable drug delivery technologies.
The other European regions of Spain, Italy and Russia show high export potential for plastic syringes and needle, rising support for generics market, and increasing expenditure in the healthcare sector.
The growth of the injectable drug delivery market is primarily triggered by product life cycle management, technological advancements, surge of biologics in pharmaceutical markets, rising incidences of cancer and diabetes and improving patient compliance.
The Europe injectable drug delivery technologies market has witnessed challenging and dynamic market conditions (due to technological advancements and surge of biologics and biosimilars in pharmaceutical market) over the last five years.
Newer products with better safety and efficacy contribute to the widespread adoption of injectable drug delivery technologiesby physicians and patients. However, factors such as needle-stick injuries and infections and development of alternate delivery methods (oral, nasal and topical) for injectable drugs are restraining the growth of the market.
Key players currently dominating the European injectable drug delivery market Becton Dickinson & Co. (U.S.), Baxter International, Inc. (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Eli Lily & Co. (U.S.), Gerresheimer AG (Germany), Sanofi (France), West Pharmaceutical Services, Inc. (U.S.), Haselmeier GmbH (Germany), and Owen Mumford, Ltd. (U.K.).
For more information on the European injectable drug delivery market, see the latest research: Injectable Drug Delivery Market Research
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