(EMAILWIRE.COM, July 09, 2018 ) Browse 170 market data tables and 37 figures spread through 252 pages and in-depth TOC on “Drug Delivery Technology Market”
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The drug delivery technology market is witnessing a growth across the globe owing to various factors such as rising prevalence of chronic diseases, increasing demand for biologics, technological advancements, and new product launches.

Whereas, self-administration and home care and rising demand for biosimilars and generic drugs offer significant growth opportunities for players operating in this market.

Restraints:
# Risk of Needlestick Injuries and Side Effects of Drugs
# Product Recalls

Opportunities:
# Self-Administration and Home Care
# Rising Demand for Biosimilars and Generic Drugs
# Biosimilars
# Generic Drugs
# Focus on Overcoming Unmet Medical Needs
# Emerging Markets

Challenges:
# Patent Expiry and Patent Cliff
# Pricing Pressure

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The global drug delivery technology market is expected to reach USD 1,669.4 billion by 2021 from USD 1,179.2 billion by 2016, at a CAGR of 7.2% during the forecast period.

Product launches and approvals accounted for the largest share of the total strategic developments in the drug delivery technology market from January 2014 to November 2016. The major players that adopted these strategies include Johnson & Johnson (U.S.), Pfizer, Inc. (U.S.), and Novartis AG (Switzerland).

Johnson & Johnson adopted organic as well as inorganic growth strategies to expand its presence in the drug delivery technology market. For instance, in February 2016, McNeil Consumer Healthcare, a part of Johnson & Johnson, introduced RHINOCORT Allergy Spray, used for treating nasal allergies. In addition, in June 2015, the company introduced Invega Trinza in the U.S.; this antipsychotic drug is used for the treatment of schizophrenia.

Moreover, the company is focused on obtaining approvals for the timely launch its products in the market and thereby strengthening its customer base. For instance, in September 2016, Janssen Pharmaceuticals, Inc., a subsidiary of Johnson & Johnson, received the FDA approval for its INVOKAMET XR, fixed-dose combination therapy of canagliflozin and metformin hydrochloride extended-release (XR) for the treatment of type 2 diabetes.

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Novartis AG (Switzerland) is one of the top players in the drug delivery technology market. Company’s leading position can be attributed to its strong brand recognition and robust product portfolio. In order to maintain its leading position, the company significantly invests in R&D activities. This investment helped the company develop and launch new and advanced products in the drug delivery technology market.

For instance, in October 2016, Alcon, a division of Novartis, launched CyPass Micro-Stent at the annual meeting of the American Academy of Ophthalmology (AAO) in Chicago, U.S. The company also focuses on inorganic growth strategies to sustain its foothold in the market. For instance, in June 2016, Novartis entered into a licensing and collaboration agreement with Xencor (U.S.) to develop bispecific antibodies to treat cancer.

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