Drug Transport Technology Market Definition
Drug transport technology is used to transport medicine to an exact location in the body in the case of cancer, tumor etc. Drug transport technology market is expected to mark significant growth over forecasted period owing to increasing prevalence of chronic diseases, availability of advanced technology and continuous launch of new products. For Instance, Sun Pharma launched a product which is related to novel drug that beneficial for heart patients in US market. Further, increasing demand for the drug transport technology expected to drive the market growth over the forecasted period.
The market study is broken down by Type (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Pulmonary Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery, Transmucosal Drug Delivery and Implantable Drug Delivery), by Application (Hospitals, Ambulatory Surgical Centers, Home Care settings, Diagnostic Centers and Others) and major geographies with country level splits.
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the market were innovation, product development, acquisition, and expansion.
Johnson & Johnson, Inc. (United States), F. Hoffman-La Roche (Switzerland), Merck & Co., Inc. United States), Bayer AG (Germany), Pfizer, Inc. (United States), Novartis AG (Switzerland), 3M Company (United States), Becton, Dickinson, and Company (United States), GlaxoSmithKline plc, (United Kingdom), Sanofi (France) and Antares Pharma, Inc. (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Drug Transport Technology market by Type, Application and Region.
On the basis of geography, the market of Drug Transport Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Prodrug will boost the Drug Transport Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Ambulatory infusion pumps will boost the Drug Transport Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In December 2018 Novartis AG, a multinational company based in Switzerland has acquired Endocyte, Inc., a US-based biopharmaceutical company developing radioligand and CAR-T therapies for cancer treatment. This acquisition will strengthen Novartis AG leadership in nuclear medicine and radiological therapy for treating cancer.
According to the Occupational Safety & Health Administration (OSHA) estimates, 5.6 million workers in the healthcare industry are at a risk of needle injuries.
“According to Pharmaceutical Regulatory Affairs, its act as an important role for approval of generics and the process is also being very stringent in various countries such as United States, Europe, Canada, Australia, and Japan includes standard skin irritation, sensitization and adhesion studies with the patch itself in animals/humans. The production of transdermal drug delivery system medications has increased, because these sorts of systems have proved more effective in many situations at directly sending drugs into the body.”
- Increase in Research and Developments Activities Leads to Boost the Market
- Rise in Demand of Drug Transport Technology in Emerging Countries.
- Increase Prevalence Of Diseases Boost the Drug Transport Technology Market
- Rising Aging Population Fuelled up the Drug Transport Technology Market
- Proliferation of Technology Advancements Such as Sigma Spectrum Infusion System Leads to Grow the Drug Transport Technology Market
- Upsurge Demand of Novel Drug Transport Technology Expected to Boost the Market
- Lack of Skilled and Trained Professional Hampers the Drug Transport Technology Market
- Dosage Error Leads to Restrain the Market
- Limitation Due to Product Recall are Anticipated to Challenge the Market.
- Substitutes Available Such as Nano Medicine-Based Drug Transport Threat the Drug Transport Technology Market
Key Target Audience
Drug Delivery System Manufacturers, Drug Delivery System Traders, End-Use Market Participants of Different Segments of Drug Delivery System, Government and Research Organizations, R&D Institutions and Others
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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