North America Drug Delivery Systems Market to witness an outstanding growth by 2027
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.
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.
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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.
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.
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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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