NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Snapshot of innovations in R&D targeting key applications of drug delivery technologies
The drug delivery market has witnessed immense growth in the last decade due to the penetration of drug delivery technologies in varied applications ranging from medicine to cosmetics. Increasing presence of technology manufacturers, rise in demand for novel products to deliver drugs and a diverse portfolio of technologies from key stakeholders combined with newer licensing agreements and partnerships has resulted in a steady growth of this market. The research study covers the market share assessment of the most common routes of drug administration that range from oral route of administration to most recent developments in transdermal drug delivery. Key market drivers and challenges section details the factors that are likely to hold key in the success of drug delivery systems across various industries apart from medicine. The research study further details the adoption of these technologies in regions of North America, Europe and Asia-Pacific, explaining the likelihood of adoption of individual routes of administration in these regions. A number of medical and non-medical applications have been presented that also include key innovators in these segments. Finally, a number of technology management strategies and an emerging technology road map has been set forth to explore the opportunity evaluation in this market.
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- Drug delivery market has witnessed continued growth in the last years owing to a number of reasons such as increasing presence of technology manufacturers, positive investor scenario, diverse portfolio of technologies from key stakeholders, newer licensing agreements, and so on.
- The market is currently valued at $ billion in 2015 and a five year forecast is estimated to grow at a steady compounded annual growth rate (CAGR) of %. This will allow the drug delivery market to reach approximately $ billion by 2020.
- With the presence of key stakeholders and the growth of emerging mechanisms to ensure delivery of drugs, the market will witness promising growth in the next years.
- One of the recent trends has been the entry of nanoparticles in this drug delivery space and the reliance of manufacturers towards nanotechnology, which will ensure drug delivery moves to a targeted delivery concept and ensure the delivery of the drug at the diseased site.
- With better drug solubility, stability in the hostile gastro-intestinal tract and enhanced drug bioavailability, drug delivery technologies look extremely promising and this is likely to drive the market overall.
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