Drug Delivery Systems Market|Healthy Growth in 2019 Annual Results
Drug delivery systems plays an important role in the administration of drugs, vaccines, and diagnostic agents. Natural polymers also have an important role in drug delivery. The development of upcoming drug delivery technologies can be applied for solving problems regarding pharmaceutical, biopharmaceutical and pharmacokinetic aspects thus, the delivery systems are growing worldwide.
Currently the development of new drug delivery systems plays a major role in pharmaceutical industries. Research and development (R&D) in drug delivery is increasing throughout the world due to increasing prevalence of disease also need for increased efficiency of new therapies and reduction in future public health expenses is boosting the R&D for drug delivery system.
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Drug delivery system is a process of administering a pharmaceutical substance to achieve therapeutic effect in humans or animals. There are various routes of drug administration for medical drugs. The selection of the route depends on three factors which are the effect desired, the type of the disease and the type of the product. Number of pharmaceutical companies are focusing on multiple drug delivery technologies for creating excellent advantages, prolonging patent and better outcome for their marketed products.
The various drivers boosting the growth of drug delivery system market are, rising prevalence of chronic disease diseases such as cardiovascular diseases, diabetes, and cancer etc., continuous advancement in delivery system, ageing of the world’s population. According to Center for Chronic Disease Prevention 2017, chronic diseases are responsible for 7 in 10 deaths across the globe. However, the stringent rules of drug regulatory authorities for drug delivery system may hinder the growth of drug delivery system market.
The drug delivery system market report has been segmented on the basis of route of administration, end user and region. The market in North America currently dominates the global drug delivery system market owing to increase in research & development expenses for advanced drug delivery devices in this region. Asia Pacific drug delivery system market is expected to be an emerging market for drug delivery system due major players are entering into joint venture for R&D activities owing to lowered labour cost in this region.
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Prominent player in drug delivery system market are, F. Hoffmann-La Roche Ltd., Bayer AG, Novartis AG, Johnson & Johnson, Inc., GlaxoSmithKline plc, Becton, Dickinson & Company, Merck & Co., Inc., Pfizer, Inc., AstraZeneca plc., and Antares Pharma, Inc.
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