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.).