LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global injectable drugs market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The rising cases of chronic diseases are considered as one of the major driving factors for the global injectable drugs market. There has been a substantial rise in the chronic diseases such as cancer and diabetes across the globe. Injectable drugs have large applications in the treatment and management of these diseases, which drives the market growth. Also, the increasing number of cancer cases is becoming a burden to global economies, which is inspiring the high investments in R&D activities for the drug development. Biologics and targeted therapies have large applications in the treatment of these diseases and are expected to contribute to the growth of the market.
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The top three emerging trends driving the global injectable drugs market according to Technavio healthcare and life sciences research analysts are:
- Rising awareness leading to high demand for injectable drugs
- Increase in industry-academia collaboration
- Expected entry of novel vaccines
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Rising awareness leading to high demand for injectable drugs
“Growing public awareness and support from the government and non-government agencies are expected to drive the growth of the market in the coming years. For instance, every year, the last week of April is observed as the World Immunization Week, as per a World Health Organization mandate,” says Sapna Jha, a lead analyst at Technavio for research on cardiovascular and metabolic disorders.
Globally, 24th April was celebrated as the World Meningitis Day in 2015, to increase the awareness about the disease and available prophylactic vaccines. Also, the World Hepatitis Day is observed on July 28th every year. This kind of awareness programs is expected to result in increasing the consumption of vaccines in the market during the forecast period.
Increase in industry-academia collaboration
“The key players in the injectable drugs market, especially vaccines market, are increasingly extending their support to academic institutions to support the R&D of innovative products for diabetes care. Such collaborations enable the amalgamation of research expertise of academic institutions with the marketing intelligence of pharma companies, besides providing funds for conducting the trial studies,” adds Sapna.
Industry-academia collaborations assist the global healthcare organizations to achieve their immunization-related global goals. Thus, such collaborations are expected to drive the market during the forecast period. In addition, an increase in public–private partnerships, especially in developing countries, fuels the development of vaccines by the viral strains prevalent in these areas.
Expected entry of novel vaccines
Therapeutic vaccines are some of the novel and newly introduced vaccines, which can be effective for both the prevention and treatment of diseases such as cancer, hepatitis infection, HIV infection, and severe acute respiratory syndrome. In addition, several companies have introduced combination vaccines, which are effective in the prevention of multiple viral infections such as polio, pertussis, meningitis, and pneumococcal infections.
The application of advanced technologies brings innovative vaccines such as dendritic cell vaccines, DNA vaccines, T-cell receptor peptide vaccines, and recombinant vector vaccines to the market. The introduction of these novel vaccines has increased their adoption among patients. Increased investment in R&D by major pharmaceutical companies also fueled the growth of the global preventable vaccines market, which will ultimately boost the growth of the injectable drugs market.
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