The global drug delivery market was worth $142.5 billion in the year 2012. Patent expiries of certain blockbuster drugs, growing demand for self administration and home healthcare devices, rising incidence of chronic diseases such as cardiovascular diseases, diabetes and cancer, growing focus on pediatric and geriatric patients, and advancing technology are accelerating the growth of this market. However, drug failures and recalls, and technical barriers will hamper the growth of this market, to a certain extent.
The Drug Delivery Technology market is segmented on the basis of route of administration into nine categories – oral, pulmonary, transdermal, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery; the market is forecast till 2017. Over the years, drug delivery technologies have grown phenomenally from plain drug reformulation and release technologies to innovative platforms that hold a huge potential for the effective delivery of biologicals and novel drugs.
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