Microparticle Injectables Market Overview
According to the latest research by FMI, Microparticle Injectables are set to witness a steady-paced growth of CAGR 5.8% during the year 2021-2031. Microparticle Injectables are broadly used constituents of multiparticulate drug delivery systems, offering both technological and therapeutic advantages. The applications of microparticle injectables as drug delivery systems allow for a controlled delivery of active pharmaceutical ingredients in the body.
The long-lasting delivery of such API over a time period of weeks, or a couple of months as microparticle injectables increases patient benefits as well as is responsible for the reduction of burden of compliance among the patients. The demand of microparticle injectables as a means for drug delivery is set to increase steadily over the forecast period.
This demand is driven primarily on the basis of lower degradation event associated with the API, which in turn leads the drug to have potentially lower side effects.
What is Driving Demand for Microparticle Injectables?
The demand for microparticle injectables is driven mainly through their benefits revolving around patient compliance. Apart from providing abundant patient benefits, the microparticle injectables also deliver drugs directly into the blood stream or the initiated local environment. The efficacy of this process evades hepatic and gastric degradation of the API.
The effectiveness of microparticle injectables as long-acting dosage forms also drive the key market players to benefit from developing novel drug dosage formulations and generate profitable revenue. Furthermore, several microparticles are not required to be removed later through surgical operation, because of the use of biodegradable materials in their formulation.
Which factors are likely to augment growth of Microparticle Injectables?
The microparticle injectables are emerging in terms of their biomedical applications in the field of cardiology, neurology as well as gastrology. The augmentative factors responsible for the growth of adoption of microparticle injectables over the globe are their ability to treat a range of indications such as CNS disorders and cancer.
Rising demand for bioresorbable polymers and their efficient use in commercialization are further set to increase the demand of microparticle injectables over the forecast period.
U.S. and Canada Microparticle Injectables Outlook
The region of North America is expected to grow at a significant rate over the forecast period. The factors aiding this growth are the presence of key and leading market players in the region in addition to a developed healthcare infrastructure as well as advanced biopharmaceutical production processes in the region.
In 2021 alone, the U.S. FDA and the European Medicines Agency (EMA) approved more than 15 drugs based on microparticles made of biodegradable polymers such as poly (lactide) (PLA) and poly (lactide-coglycolide) (PLGA), which possess biocompatible properties.
The rising research activities as well as production of novel drug dosage formulations in the region account for the highest sales value share in the market over the forecast period.
Europe Demand Outlook for Microparticle Injectables
The region of Europe is anticipated to occupy a large share after North America in the adoption of microparticle injectables due to the rising prevalence of chronic diseases in the region, as well as increasing technological advancements.
The growth is also evaluated by the presence of growing advancements in healthcare and research in the region. According to the WHO, about 50 million people in the region of Europe suffer from more than one chronic disease.
Who are the Key Manufacturers and Suppliers of Microparticle Injectables?
The key companies operating in manufacturing and supply of microparticle injectables are
- Lubrizol Life Science
- Baxter International Inc
- Eli Lilly and Company
- Pfizer Inc.
- Oakwood Labs and GP Pharm.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
By Therapeutic Application:
- Chronic Diseases
- Autoimmune Diseases
- Hormone Related Disorders
By Administration Site:
- Central Nervous System
- Targeted Organs
By Distribution Channel:
- Medical Hospital Pharmacy
- Retail Pharmacy
- North America
- Latin America
- South Asia
- Rest of South Asia
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- South Africa