Drug delivery market in North America is expected to grow from US$ 572,452. 95 Mn in the year 2018 and is expected to reach US$1,074,679. 66 Mn by 2027 growing at a CAGR of 7. 4% over the forecast period.
New York, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Drug Delivery Systems Market to 2027 - Regional Analysis and Forecasts By Route of Administration; Distribution Channel; and Application, and Country" - https://www.reportlinker.com/p05794735/?utm_source=GNW
Driving factors such as a rising number of patients suffering from chronic diseases and increasing adoption of non-invasive drug delivery systems are likely to grow the drug delivery systems market in the forecast period.Whereas, the product recalls for these products are likely to impact the growth of the drug delivery systems market during the forecast period.
On the other hand, the development of novel drug delivery solutions is likely to be a prevalent trend in the market.With the improvements in medical devices, and certain transdermal delivery technologies, the non-invasive mode of drug delivery is now ready to compete with traditional methods of oral and injectable routes of drug delivery.
The Non-Invasive Drug Delivery Systems encompasses the broad field of non-invasive drug delivery systems which includes drug delivery via topical, transdermal-active (device- aided enhanced penetration), transdermal-passive, trans-ocular membrane, trans-mucosal membrane, as well as delivery via an alveolar membrane from inhaled medication.Patient compliance has been found to be much higher when administrated by non-invasive routes due to decreased pain involved in drug delivery and therefore, these techniques are considered to be a preferred mode of drug delivery.
The manufacturing cost may also be less for non-invasive dosage forms as compared to injections in many cases. For instance, inhaled insulin appears to be a non-invasive, well-tolerated, and liked modality of treatment of diabetes. In 2014, MannKind Corporation developed Afrezza (insulin human) inhalation powder, which was approved by FDA. Thus, due to advantages offered by non-invasive drug delivery devices, the drug delivery systems market is expected to witness growth during the forecast period.
The North America drug delivery systems market on the basis of route of administration is segmented in to oral, transmucosal, injectable, topical, implantable and ocular. In 2018, the oral segment held the largest market share of 50.2% of the drug delivery systems market, by route of administration. The oral segment is expected to dominate its market share in 2027 owing to ease of drug administration, a high degree of flexibility on dosages and cost-effectiveness.
On the basis of application, the North America drug delivery systems market is segmented into hospitals & clinics, home care settings, and others. In 2018, the hospitals and clinics held the largest market share of 56.0% of the drug delivery systems market, by the application. This segment is also expected to dominate the market in 2027, owing to a large number of the patient population visiting hospitals and clinics. Also hospitals provide diagnosis and treatment for various medical conditions.
On the basis of the distribution channel, the North America drug delivery systems market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. In 2018, the hospitals pharmacies held the largest market share of 68.7% of the drug delivery systems market, by distribution channel. This segment is also expected to dominate the market in 2027 as hospital pharmacies provide a larger range of medications, including more specialized and investigational medications.
Some of the major primary and secondary sources for drug delivery systems included in the report are Centers of Disease Control & Prevention, Food and Drug Administration, World Health Organization and Others.
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