Drug Delivery Technologies Market in North America to Hit 6.5% CAGR to 2021
The North American drug delivery technologies market is projected to reach USD 758.7 billion by 2021 at a CAGR of 6.5% during the forecast period led by the topical drug delivery market which is expected to grow at the highest CAGR
Pune, India – August 30, 2016 /MarketersMedia/ —
Major factors contributing to the growth of North American drug delivery technologies 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 needle stick injuries and side effects related to drugs are expected to restrain the growth of this market in the coming years.
Complete report on North American drug delivery technologies market spread across 268 pages, profiling 11 companies and supported with 206 tables and 57 figures is now available at http://www.rnrmarketresearch.com/north-american-drug-delivery-technologies-market-metered-dose-inhalers-needle-free-injectors-auto-injectors-nasal-sprays-transdermal-patches-nebulizers-infusion-pumps-drug-eluting-stents-sust-market-report.html .
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 Sprit am, 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.
The North American drug delivery technologies market is a highly competitive market with the presence of several big and emerging players. Moreover, each product segment has a different set of vendors. Johnson & Johnson, Inc. (U.S.), Novartis AG (Switzerland), F. Hoffman-La-Roche Ltd. (Switzerland), Bayer AG (Germany), Pfizer, Inc. (U.S.), 3M Company (U.S.), Becton, Dickinson and Company (U.S.), Merck & Co, Inc. (U.S.), Sanofi (France), Antares Pharma, Inc. (U.S.), and GlaxoSmithKline Plc. (U.K.) are some of the prominent players in the North American drug delivery technologies market.
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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 and change in strategic approach, R&D investments, and levels of output in order to remain successful.
On a related note, another research on Injectable Drug Delivery Market Global Forecast to 2020 says, Asia is expected to be the fastest-growing country in the injectable drug delivery market. Factors such as rising incidences of chronic diseases, growth of the biologics market, demand of self-injection devices, and technological advancements, are driving the growth of the injectable drug delivery market. The global market is expected to reach $547.8 billion by 2020 from $326.1 billion in 2015, growing at a CAGR of 12.0% from 2015 to 2020. Companies like Becton, Dickinson and Company (U.S.), Baxter International Inc. (U.S.), Gerresheimer AG (Germany), Pfizer, Inc. (U.S.), Schott AG (Germany), Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and Eli Lilly and Company have been profiled in this 241 pages research report available at http://www.rnrmarketresearch.com/injectable-drug-delivery-market-by-formulations-liposomes-microspheres-nanoparticles-devices-disposables-reusable-fillable-prefilled-pen-needle-free-auto-injectors-therapeutics-di-market-report.html .
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