NEW YORK, Jan. 18, 2017 /PRNewswire/ -- The drug delivery technology market is projected to reach USD 1,669.40 billion by 2021 from USD 1,179.20 billion in 2016, at a CAGR of 7.2% during the forecast period.
Increasing prevalence of chronic diseases, increasing demand for biologics, technological advancements, and new product launches are the factors driving the growth of this market. Whereas, self-administration & home care and rising demand for biosimilars and generic drugs offer significant growth opportunities for players operating in this market. On the other hand, risk of needle-stick injuries and side effects of drugs may restraint the growth of the market.
The drug delivery technology market is segmented based on route of administration, facility of use, and region. On the basis of route of administration, the market is segmented into oral, injectable, topical, nasal, ocular, pulmonary, implantable, and transmucosal. In 2016, the oral drug delivery segment is expected to account for the largest share of the market. This can be attributed to the wide range of benefits associated with oral drugs. The oral route of administration is one of the simplest, most convenient, and safest routes.
On the basis of facility of use, the market is segmented into the hospitals, ambulatory surgical centers/clinics, home care settings, diagnostic centers, and other facilities of use. In 2016, the hospitals segment is expected to account for the largest share of the market. This can be primarily attributed to advantages such as the significant number of inpatient and outpatient visits in hospitals as compared to other end users and the requirement of large volumes of drugs and their respective delivery devices to cater to the demand of this patient pool.
Asia is expected to be fastest-growing region in the drug delivery technology market from 2016 to 2021. Opportunities in the Asian market have attracted huge investments by major companies in the area of R&D activities. In addition, the region has low costs of labor and clinical trials, which has further served to draw market players to Asia.
Prominent players in the drug delivery technology market include Johnson & Johnson, Inc. (U.S.), F. Hoffman-La Roche (Switzerland), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Pfizer, Inc. (U.S.), Novartis AG (Switzerland), 3M Company (U.S.), Becton, Dickinson and Company (U.S.), GlaxoSmithKline plc, (U.K.), Sanofi (France), and Antares Pharma, Inc. (U.S.).
The report defines, describes, and forecast the drug delivery technology market on the basis of route of administration, facility of use, and region. It provides detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, challenges). The study tracks and analyzes competitive developments such as joint ventures, mergers and acquisitions, new product developments, and expansions in the drug delivery technology market across to four main regions, namely, North America, Asia, Europe, and RoW.
Reasons to Buy the Report:
The report on the drug delivery technology market provides quantitative information for clients seeking market size information on various segments of this market. This report also provides access to the quantitative data on the drug delivery technology market. This report covers –
- Current and forecast assessment of the drug delivery technology market.
- Country-wise assessment of each of the segments
- Global market share analysis for major segments of the drug delivery technology market
- Adoption trends of various drug delivery technologies for major geographic markets
- Five-year coverage of strategic developments of top players in the drug delivery technology market
- Product Portfolio mapping of leading players in the drug delivery technology market
Read the full report: http://www.reportlinker.com/p04622892-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/drug-delivery-technology-market-by-route-of-administration-patient-care-setting---global-forecast-to-2021-300393085.html