Monday, September 19, 2011

Drug device market growing over next few years

Drug delivery devices allow consumers to cut the costs of their drugs.  This is why Pharma Times Online believes the drug device industry will hit $197 Billion by 2014, up from $139 billion in 2009.  They believe that inhalers, injections and infusion pumps will drive the growth.

A few of the other reasons they believe the market for the devices grow include:
  • Rise of the global population
  • Aging populations in mature healthcare markets
  • Shifting of global disease burdens to non-communicable diseases
  • More patient decisions about healthcare, looking to drug devices to reduce costs
At Drug Delivery Partnerships 2012, The New Partnering Landscape: Using Co-Development, Novel IP Strategies and Emerging Markets for Growth & Sustainability track will look at the growth opportunities in intellectual property as well as delivery of generic and OTC drugs. The 2012 program will be released soon, stay tuned to the blog for the most up to date information!

What do you believe are some of the reasons the drug device industry are poised for rapid growth over the next few years?

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