SOURCE: Noble

Noble

August 07, 2013 09:15 ET

Noble Expands Into Global Biologics Market With Multisensory Device Training

Injection Market, Including Biologics, Anticipated to See Continued Growth After Surge in 2012

ORLANDO, FL--(Marketwired - Aug 7, 2013) -  Noble®, the leader in the design and manufacturing of training devices, is expanding its services to the global biologics market, offering customized solutions for biopharma drug delivery brands. With the injection market growing 14 percent over that last year, Noble is seeing an increased need for training tools to complement self-administered injection devices, especially for biologics. This trend will continue as submissions of Biologic Licenses Applications (BLA) outnumber those of small molecule drugs. In 2010, the global biologics market was valued at an estimated $149 billion and is expected to reach $239 billion by 2015. In addition, research also shows the global injectable drug delivery technologies market was valued at $22.5 billion in 2012 and is expected to reach $43.3 billion by 2017.

"The boom in the biologics and injections markets at large has created a need for device training engineers," said Jeff Baker, CEO of Noble. "Biologics and injections have a higher efficacy rate but at the same time, come with increased complication and anxiety for the patient, thus reducing adherence and compliance. Biologics have been proven effective in many therapeutic areas like rheumatology and oncology, but also cardiology, dermatology, gastroenterology, neurology and others. With the projections we are seeing for both markets and the many therapeutic areas impacted, we expect exponential growth for device training in this area."

With noncompliance costing the nation hundreds of billions of dollars per year, pharmaceutical brands are increasing investment in patient education tools and device training systems, making self-administered treatments easier to understand for patients.

"It is our job to consider the human factors of taking medication to design the most effective education opportunity or device training system," said Baker. "Pharmaceutical brands are seeing the value in cutting the confusion for patient and investing in training devices. It not only proves patients better adhere to treatment plans, but also makes better use of the healthcare provider's time with patients when volumes continue to put constraints on them."

By providing a solution to these issues, Noble anticipates continued investment in education and training, estimating doubling annual revenue rates over the next couple years and increased hiring opportunities.

Contact Information

  • Media Contact:
    Ashley White
    UproarPR for Noble
    321-236-0102 x228
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