The Global market for Drug Delivery Technology is expected to reach USD 1,495.31 Billion by 2021 from the estimated value of USD 1086.8 Billion in 2016 growing at a CAGR 6.59 % during forecast period.
Drugs can be managed directly into the body through infusions, imbuement, or through others. Drug delivery technologies are the formulations or devices used to infuse restorative substances in the body through a particular course of organization.
Different drug formulations, for example, insulin and anti-infection agents are managed through drug delivery devices. These devices help in expanding the effectiveness of the Drug delivery by controlling time, measurement, and place of arrival of the drugs in the body.
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The drivers for Drug delivery market includes increase in prevalence of chronic diseases, advances in technology, rise in individual therapy, increase in the awareness about drug metabolism among people and need for the control on drug release. Few restraints are fear among individuals regarding injuries and infections during operation, rise in the cost of development and strict regulatory framework.
Drug delivery market issegmented on the basis of Route of administration and facility of use. On the basis of route of administration, Market issegmented into Oral Drug Delivery, Pulmonary Drug Delivery, Inject able Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery, Topical Drug Delivery, Implantable Drug Delivery, Tran mucosal Drug Delivery .On the basis of Administration Market is segmented as Hospitals, Ambulatory Surgical Centers, Home Care settings, Diagnostic Centers, Other Facilities of Use.
By region, Market can be segmented as North America, Asia-Pacific, Latin America, Europe and Middle East and Africa.
Some of the key players in the market are Bend Research, Endocyte, Microchips Inc, Pearl Therapeutics Inc, Presage Bioscience, UCB Group, Genentech Inc, Polymer Factory, Alkermes Inc, BIND Biosciences Incand QLT Inc.
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