(PharmaNewsWire.Com, June 28, 2017 ) The report "North American Drug Delivery Technologies Market by Route of Administration (Oral (Solid), Pulmonary (Nebulizer), Injectable (Device), Ocular (Device), Nasal (Drop), Topical (Solid), Implantable (Active)), End User (Hospital, Home Care) - Global Forecast to 2021 The North American drug delivery technologies market is projected to reach USD 758.7 Billion by 2021 from USD 520.0 Billion in 2016, at a CAGR of 6.5%.
Browse 206 market data Tables and 57 Figures spread through 275 Pages and in-depth TOC on "North American drug delivery technologies Market “
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Factors such as rising prevalence of chronic diseases, growth in the biologics market, funding initiatives for drug delivery research, and technological advancements are driving the growth of this market. However, risk of needlestick injuries and side effects related to drugs are expected to restrain the growth of this market in the coming years.
Based on the route of administration, the North American drug delivery technologies market is segmented into oral, pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal drug delivery. The topical drug delivery market is expected to grow at the highest CAGR during the forecast period. The high growth in this segment is attributed to the advantages of topical drugs, such as convenience and ease of use, right dosage to the right place, painless application, noninvasive nature, superior spreadability, and enhanced patient compliance.
On the basis of type, the oral drug delivery technologies market is segmented into solid, liquid, and semi-solid drug delivery. Solid oral drug delivery is segmented into tablets, capsules, pills, and powders. In 2016, tablets are estimated to account for the largest share of the solid oral drug delivery market. High patient compliance and acceptability are the major factors driving the growth of this market segment.
The injectable drug delivery market is segmented into two broad categories, namely, devices and formulations. Devices are further subsegmented into conventional and self-injectors, while formulations are further categorized into conventional, novel, and long-acting. In 2016, novel drug delivery formulations are expected to account for the largest share of the formulations market. Enhanced efficacy, increased patient compliance by decreasing dose frequency, and targeted drug delivery (which reduces side effects) are some of the key factors driving the growth of this market segment.
Topical drug delivery is segmented into solid, liquid, semi-solid, and transdermal drug delivery. Transdermal drug delivery is expected to register the highest CAGR during the forecast period. The noninvasive nature of this drug delivery system, feasibility of self-administration, and improved patient compliance are the major factors driving the growth of the transdermal drug delivery market.
The North American drug delivery technologies market is segmented on the basis of route of administration, end user, and country. The U.S. market is expected to dominate the North American drug delivery technologies market in 2016 and is projected to grow at the highest CAGR during the forecast period. The large share of the U.S. in the North American market can primarily be attributed to factors such as the rising prevalence of chronic diseases, rapidly growing geriatric population, growth in the biologics market, and growing regulatory approvals and new product launches.
Prominent players in this market include Johnson & Johnson, Inc. (U.S.), Merck & Co. Inc. (U.S.), Novartis AG (Switzerland), Bayer AG (Germany), 3M Company (U.S.), F. Hoffmann-La Roche (Switzerland), Becton, Dickinson and Company (U.S.), GlaxoSmithKline (U.K.), Pfizer, Inc. (U.S.), Antares Pharma (U.S.), and Sanofi (France).
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