Dr.Reddy,eyeing,expansion,thei marketing Dr.Reddy's eyeing expansion of their injectable drug portfo
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The Global Injectable drug delivery market is on its peak thanks to its rise from the past few years.Owing to the rapid evolution of market in the use of injectable drug delivery technology, medical device companies which are able to launch new innovative equipment will be awarded with huge benefits. Increased prevalence of chronic diseases, technological advances, increase in individual therapy, increased understanding about drug metabolism among the population and the requirement of controlled drug release are all the major factors driving the growth of the drug delivery device market.Currently, companies are increasingly expanding their product portfolio in a bid to expand their global market share. Product innovation is the most important driving factor for the growth of the Injectable drug delivery market. Most of the companies have diverted their focus on the same. Recently, the likes of Dr. Reddy Laboratories are on the verge of expanding their injectables portofolio in the US with the aim to file applications for four or five new complex injectables. They are expanding from the likes of generic drugs to generic injectable drugs. They are also planning to make a few acquisitions to boost their growth with more than $1 billion available at their disposal to carry on with this operation. Ferring has alos gained approval for two of their products Zomacton and Zoma Jet which are ready to release in the market. Recently, Teval launched new injectable products Lovenox and Zyvox which generated revenues of nealrly $2.25 billion through sales. Clearly we can see that new product innovations is the current major trend in the Injectable Drug delivery market. Very recently, researchers at MIT and Massachusetss General Hospital have developed a novel drug device with tiny needles capable if inject drugs directly into the lining of the stomach after the capsule in consumed. This new technology is gaining traction among the major companies and may very well be into the market in the future. Few companies are inclined to design the same.New innovative products are attracting huge market growth and is an indication for new market players who are seeking to enter the market.
Dr.Reddy,eyeing,expansion,thei