NEW YORK, Sept. 6, 2016 /PRNewswire/ -- The North American drug delivery technologies market is projected to reach USD 758.7 billion by 2021 from USD 520.0 billion in 2016, at a CAGR of 6.5% during the forecast period. Major factors contributing to the growth of this market include the rising prevalence of chronic diseases, growth in the biologics market, funding initiatives for drug delivery research, and technological advancements. However, the risk of needlestick injuries and side effects related to drugs are expected to restrain the growth of this market in the coming years.
In 2016, the U.S. is expected to command the largest share of the North American drug delivery technologies market. The large share of the U.S. in this market can primarily be attributed to factors such as the rapidly growing geriatric population; growth in the biologics market; increasing number of regulatory approvals and new product launches; and growing number of workshops, conferences, and symposia being conducted in the country. For instance, in 2015, Aprecia Pharmaceuticals (U.S.) received FDA approval for Spritam, the first 3D-printed prescription drug for epilepsy. In March 2016, the company introduced this product in the U.S. market. The company's Zip Dose (3D printing) technology enables the pill to disintegrate in the mouth with a little amount of water. This pill also provides an option for people who have difficulty in swallowing. Such technological advancements will significantly contribute to the adoption of pills among geriatric individuals suffering from swallowing difficulties.
Apart from the comprehensive regional analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. The company profiles comprise basic views on key players and their product portfolios, developments, and growth strategies adopted. The abovementioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographic focus, change in strategic approach, R&D investments, and levels of output in order to remain successful.
Reasons to Buy the Report:
This report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the drug delivery technologies market. This report analyzes the North American drug delivery technologies market, by route of administration, end user, and country.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the North American drug delivery technologies market.
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the North American drug delivery technologies market.
- Market Development: Comprehensive information about the North American market. This report analyzes the North American drug delivery technologies market across countries.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the North American drug delivery technologies market.
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