The drug delivery technology market is expected to reach USD 1,504.7 billion by 2020 from USD 1,048.1 billion in 2015, growing at a CAGR of 7.5% from 2015 to 2020. The market is categorized on the basis of route of administration, end user, and region. The route of administration market is further segmented into oral, pulmonary, ocular, nasal, topical, inject able, implantable and transmucosal drug delivery technology. The topical drug delivery technology market segment is expected to witness the highest CAGR in the forecast period.
Factors such as rising incidences of chronic diseases, growth of the biologics market, and innovation and technological advancements, are driving the growth of the drug delivery technology market. In addition, emphasis on innovation for improving the delivery of drugs is also contributing to the growth of the market. For instance, in February 2015, Sanofi and Mankind Corporation (U.S.) collaborated to launch Afrezza (insulin human) Inhalation Powder, inhalable insulin. This launch enabled the company to strengthen its product portfolio in nasal drug delivery. Such innovations are fueling the growth of the market.
Asia is expected to be the fastest-growing region in the drug delivery technology market. High growth in this market can be attributed to the increased population, rising prevalence of chronic diseases in the emerging markets, and existence of unmet medical needs.
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the drug delivery technology market and product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Reasons to Buy the Report:
The 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 to garner a greater market, share. Firms purchasing the report can use 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 technology market. The report analyzes this market by route of administration, end user, and geography
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the drug delivery technology market
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of leading players in the drug delivery technology market
- Market Development: Comprehensive information about lucrative markets. The report analyzes the market for various drug delivery technology markets across countries
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the drug delivery technology market