The players in the drug delivery systems market are adopting various inorganic and organic developments for the individual growth and thus the growth of the market is highly dependent on them. The vital players in the drug delivery systems market focus on various growth strategies to enroot their presence and garner major market share across the globe. Some of the notable players in the global drug delivery system market includes BD, 3M, Novo Nordisk A/S, BD, Novo Nordisk A/S, 3M, Boston Scientific Corporation, Bausch Health Companies Inc., Baxter International, Inc., Boehringer Ingelheim, Novartis AG, GlaxoSmithKline plc., and Johnson & Johnson Services, Inc. among others. The major market players within the recent years, have been observed to invest a substantial amount towards the development of new products. This implies a bright picture on the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the drug delivery systems market. The global leaders in the market have been majorly adopting product launches and product up-gradation as one of the key strategy to improve its product lines in order to build up a customer centric benefits to its end users and enhance its geographic diversification.
The global drug delivery systems market leaders are expanding their activities across the world and are developing various innovative techniques to diagnose and treat medical conditions. For instance, In January 2019, BD launched Nano 2nd gen pen needles which reinforces BD’s commitment to providing the most advanced solutions possible for people with diabetes to help achieve better clinical management of insulin use. Thus, considering these developments the for the healthcare industry the players operating for the drug delivery systems devices are likely to improve their performance and provide enormous benefits to their customers and end users.
Apart from the developments for the drug delivery systems market, the key market players are developing innovative products that assists in the diagnosis and treating chronic conditions. For instance, In July 2018, 3M Drug Delivery Systems launched an improved version of one of the leading rescue inhalers. Now, patients will benefit from the added convenience of being able to track the number of doses they have used, so they will know when to order a refill.
Similarly, the companies are performing inorganic growth market for instance, in September 2016, Aptar Pharma, a leading drug delivery solutions provider and segment of AptarGroup, Inc. (NYSE: ATR) announced the signing of an exclusive development and license agreement with BD (Becton, Dickinson and Company) to jointly develop a novel auto-injector using Aptar Pharma’s high-performance, two-step auto-injector technology and prefillable syringes from BD. Therefore, the market is likely to experience rapid growth in the coming years.