(PharmaNewsWire.Com, April 23, 2018 ) Overview Drug Delivery refers to formulations, processes, and technology used to deliver drugs or chemical substances into the body. This could be for diagnosis, cure, treatment, or prevention of numerous diseases such as diabetes, viral and bacterial illnesses, gastrointestinal diseases, and allergies. Silicone, ethylene vinyl acetate, polyurethane, acrylate hydrogels, and other biodegradable substances are the materials usually used to fabricate drug delivery systems. Numerous drug formulations together with insulin and antibiotics are administered through drug delivery devices. These devices assist in increasing the efficiency of the drug delivery devices by controlling time, dosage, and region of the release of the drugs in the body.
The Global market for Drug delivery devices is expected to reach USD 1,495.31 Billion by way of 2021 from the expected price of USD 1086.8 Billion in 2016 growing at a CAGR 6.59 % throughout forecast period.
Drivers and Restraints: Rising geriatric population, technological improvements, and growing demand for advanced drug delivery devices are the important key factors riding the growth of the market. Additionally, the improving healthcare centers in various countries consisting of China, India, and Brazil also are fuelling the growth of this market.
But, strict regulatory necessities for approval of drug delivery devices and absence of skilled and trained professionals to administer drugs are restraining the increase of the global drug delivery devices market. Furthermore, issues related to the use of drug delivery devices inclusive of dosage errors also are hampering the market growth.
Geographic Segmentation Currently, North America leads the global drug delivery devices market, closely trailed by Europe. This is due to the growing demand for enhanced drug transport systems and growing accessibility and affordability of drug delivery devices. In the subsequent 5 years, Asia is predicted to be the fastest growing market because of growing incidences of various continual illnesses and increasing old population in this region.
The leading companies of the market include Bend Research, Endocyte, Microchips Inc, Pearl Therapeutics Inc, Presage Bioscience, UCB Group, Genentech Inc, Polymer Factory, Alkermes Inc, and BIND Biosciences Incand QLT Inc.
Scope of the report The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated. The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity. What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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