Injectable Suspensions Market Forecast and CAGR
According to the latest research by Persistence Market Research, the injectable suspensions market is set to witness positive growth of CAGR 8.7% during 2021-2031. The injectable suspension is the mixture of solid dose drugs in a suitable liquid medium.
These are mostly prepared because the drug is insoluble in the delivery vehicle. These are used across various therapy areas like oncology, diabetes, cardiovascular diseases, dermatology, etc. These can be administrated subcutaneously or intravenously.
Due to various advantages like patient preference and ease of administration, injectable Suspensions are preferred over other methods. The injectable suspensions market is majorly driven by the rising prevalence of chronic diseases, acquisition and mergers between the companies, benefits of injectable suspensions, and approvals from the government authorities.
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Who Are The Key Manufacturers Of Injectable Suspensions?
Some of the leading manufacturers of injectable suspensions include
- Merck Sharp & Dohme Corp.
- Novo Nordisk A/S
- Lilly
- Biocon Limited
- Pfizer Inc.
- BeiGene
- EnteraBio Ltd
- AbbVie Inc.
- Pfizer Limited
- Teva Pharmaceuticals USA Inc.
- Bristol-Myers Squibb Company
- Cipla Inc.
- Baxter International Inc.
- AstraZeneca.
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What Is Driving Demand for Injectable Suspensions?
According to CDC, in U.S. 6 in 10 individuals suffer from chronic disease. These diseases are the leading cause of death globally. This acts as a driver for the injectable suspensions market. The injectable suspensions market is also driven by the increase in FDA approvals for injectable suspensions.
For instance, in 2017, FDA approved AstraZeneca’s injectable suspensions, Bydureon BCise, for the treatment of type 2 diabetes. Moreover, an increase in the awareness about the injectable suspensions and R & D investment by the companies for improving the product pipeline is expected to increase demand for injectable suspensions during the forecast period.
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Impact of COVID-19 on Injectable Suspensions Market
COVID-19 had a direct and indirect impact on the injectable suspensions market. Due to sedentary lifestyles, the risk of developing chronic diseases has increased. During these pandemic times, the focus of hospitals and caregivers was shifted from controlling chronic disease to the prevention of COVID-19. Due to disruption in the supply chain, the market had an overall negative impact due to COVID-19.
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