Drug delivery: Devices and Equipments
Drug delivery devices are employed to inject drugs in the body through a particular route of administration, which in turn depends on the type of disease, desired action, and available products. These devices enhance the efficiency of the drug delivery system by controlling time, dosage, and site of release of the drugs in the body. Target specificity, dose-optimization and high level of safety and efficiency are the characteristics of these devices. Devices may be conventional or implantable.
Rising geriatric population, technological advances, and increasing demand for improved drug delivery systems are the key tools driving the growth of the global drug delivery devices market.
The Global Drug Delivery Devices Market accounted to USD 1,027.0 billion in 2016 growing at a CAGR of 8.1% during the forecast period of 2017 to 2024.
Europe Drug Delivery Market expected to reach USD 536.1 billion by 2024 from USD 305.5 billion in 2016, at a CAGR of 7.3% in the forecast period 2017 to 2024.
Some of the major companies in Drug Delivery Devices market are 3M Company, Merck & Co., Inc., Pfizer Inc., Johnson & Johnson, Pfizer, Inc., Bayer AG, F. Hoffmann-La Roche AG, Abbott, Novartis AG, Valeant Pharmaceuticals International, Inc., Mylan Pharmaceuticals Inc., Antares Pharma.