Global Drug Delivery Market
The pharmaceutical market in Russia is one of the fastest growing market globally and is set to rise from $20.91 billion in 2016 to $38.56 billion by 2021, representing a compound annual growth rate of 13%, according to GlobalData, Thus, Russia’s pharmaceutical market will almost double to $39billion by 2021.
The medical device market in Russia was valued at $6.7 billion in 2016 and is forecast to reach $8.5 billion in 2021. Major segments likely to experience high growth are ophthalmic devices cardiovascular devices, orthopedic devices.
Drug delivery technology market is projected to reach USD 1,669.40 Billion by 2021 from USD 1,179.20 Billion in 2016, at a CAGR of 7.2% during the forecast period.
Prominent players in this market include Johnson & Johnson, Inc., F. Hoffman-La Roche, Merck & Co, Inc. Bayer AG, Pfizer, Inc., Novartis AG, 3M Company, Becton, Dickinson and Company, GlaxoSmithKline plc. Sanoff and Antares Pharma, Inc.
The Global Drug Delivery Technologies Market is poised to grow at a CAGR of around 7.9% over the next decade to reach approximately $2,222 billion by 2025.
North America dominates the global market for injectable drug delivery due to a large aging population and increasing incidences of diabetes. Asia is expected to witness high growth rates in the next five years in the global injectable drug delivery market. China and India are expected to be the fastest-growing injectable drug delivery markets in Asia Pacific.
The global transdermal drug delivery market was valued at $13.5 billion in 2013 and is expected to reach $21.7 billion by 2018, at a CAGR of 11.1% from 2013 to 2018.
An overview of the current global market for drug delivery and formulation enabled and enhanced products provides a sense of what is out there and what we might expect. Drug-Device enhancements over the past few years have generally been incremental and largely predictable in terms of features and performance.