Global Drug Delivery Technology Market: Overview
Drug delivery system is the method of delivering therapeutic substance via a general route of administration to attain a therapeutic effect in animals or humans. Drugs liberate the functional ingredients in the area of the target at a correct dose and at the appropriate time. Drug delivery technologies enhance the drug release profile, distribution, absorption, and elimination for the sake of developing product safety and efficiency coupled with patient ease and conformity.
Global Drug Delivery Technology Market: Growth Factors
The key factors fueling the growth of the global drug delivery technology market include the increasing incidence of chronic diseases, advancement in technologies, the rising attention on geriatric & pediatric patients, the growth in biologics market, the transformation in lifestyle owing to rising urbanization, launch of novel product, and the growing need for minimum invasive surgeries. In addition, the home care & self-administration and increasing need for generic drugs and biosimilars are few other factors driving the market growth. However, patent expiry, the risk of needle-stick injuries, regulatory obstacles, and side-effects associated with drugs are some factors that may restrict the growth of the market.
Global Drug Delivery Technology Market: Segmentation
The global drug delivery technology market can be segmented on the basis of end-user, route of administration, and region. The end-user segment of the market is classified into home care settings, hospitals, diagnostic centers, ambulatory surgical centers, and other facilities of use. The route of administration segment of the market is diversified into ocular drug delivery, pulmonary drug delivery, injectable drug delivery, oral drug delivery, implantable drug delivery, topical drug delivery, parenteral route, transmucosal drug delivery, and nasal drug delivery. The pulmonary drug delivery segment of the market is divided into dry powder inhaler, metered dose inhaler, and nebulizers. The implantable drug delivery segment of the market is classified into passive implantable drug delivery and active implantable drug delivery. The parenteral route segment of the drug delivery technology market is sub-segmented into intra-arteria, intramuscular, subcutaneous route, and intravenous. Geographically, the market is categorized into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.
Global Drug Delivery Technology Market: Regional Analysis
North America is expected to dominate the global drug delivery technology market in the near future. Asia Pacific region is also anticipated to grow at a faster rate in the coming period owing to the funds by key companies in the field of R&D activities and low price of clinical trials and labor.
Global Drug Delivery Technology Market: Competitive Players
The prominent players in the global drug delivery technology market are Merck & Co., Inc., Pfizer, Inc., Johnson & Johnson, Inc., Bayer AG, F. Hoffman-La Roche, and Novartis AG. The other key players in the market include Sanofi, 3M Company, Antares Pharma, Inc., GlaxoSmithKline plc, and Becton, Dickinson, and Company.
Global Drug Delivery Technology Market: Regional Segment Analysis
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