Drug Delivery Companies and Market
Increase in chronic diseases, increasing demand for biologics, advancement of technology , and new product launches are one of the key factors driving the evolution of the drug delivery technology market. moreover, self-administration and residential care and increasing demand for biosimilars and generic medicine supply vital growth opportunities for player operative within the market. On the other hand, risk of needle-stick injuries and side effects of medication might restraint the expansion of the market.
The global revenue for advanced drug delivery systems is estimated to be $151.3 billion in 2013. In 2018, revenues are estimated to reach nearly $173.8 billion, demonstrating a compound annual growth rate (CAGR) of 2.8%.
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.).