New York, NY -- (SBWIRE) -- 04/23/2019 -- Pharmaceutical sector is growing at a significant rate due to increasing prevalence of diseases, growing awareness and rising government initiatives. Injectable drugs refer to the medications that are introduced in to the patient's body with the help of injections. They are injected directly into the blood stream with the help of injectable devices such as syringes and needles. On the basis of their formulations, injectable drugs market can be classified into microspheres, liposomes and nanoparticles.

North America dominates the global market for hospital injectable drugs, due to high demand for pharmaceutical products and technological advancement in the region. Europe, followed by the Asia, is expected to experience high growth rate in the next few years in global hospital injectable drugs market. This is due to improvement in the healthcare facilities and increasing R&D initiatives in the region. Countries such as Brazil, Russia, China and India are expected to be the fastest growing hospital injectable drugs markets. Some of the key driving forces for hospital injectable drugs market in emerging countries are large pool of patients and rising standards of healthcare in these areas.

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Growing awareness and technological advancement in this field is driving the global hospital injectable drugs market. In addition, improved efficacy proven by this class of drugs, increasing prevalence of chronic diseases and improvement in the healthcare facilities are driving the hospital injectable drugs market. However, some of the key factors that have been restraining the global hospital injectable drugs market are stringent government regulations in some countries and lack of experienced medical professionals.

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Introduction of innovative drugs such as biosimilars is expected to offer good opportunity for hospital injectable drugs market. In addition, emerging markets hold a great potential for growth of hospital injectable drugs market. Side effects involved and patent expiries of various injectable drugs are the challenges faced by hospital injectable drugs market. Some of the latest trends that have been observed in the global hospital injectable drugs market are companies involved in mergers and acquisitions and focusing towards their geographical expansion. Some of the major companies dealing in hospital injectable drugs market are Baxter International Inc., Wockhardt, Millennium Pharmaceuticals, Inc and Actavis. In addition, some more major companies dealing in hospital injectable drugs market are JHP Pharmaceuticals, AAIPharma Services Corp. and Akorn, Incorporated.