North America Drug Delivery Devices Market, By Route of Administration (Oral (Solid, Liquid, Semi-Solid), Injectable, Topical, Pulmonary (MDI, DPI, Nebulizers), Nasal, Ocular, Implantable, Transmucosal), By End-User (Hospitals, Ambulatory Surgery Centers/Clinics, Home Care Settings, Diagnostic Centers, Others), By Country (U.S., Canada, Mexico) – Trends and Forecast to 2024
“North America Drug Delivery Devices Market" is expected to reach USD 699.1 billion by 2024 from USD 490.6 billion in 2016, at a CAGR of 4.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Some of the major companies operating in this market are:
- Bayer AG
- Johnson & Johnson Services, Inc.
- Novartis AG
- Pfizer, Inc.
- F. Hoffmann-La Roche AG
- GlaxoSmithKline plc.
- Merck & Co.
- Antares Pharma
Drug delivery is a process of introducing a therapeutic effect in the human body by administering a pharmaceutical drug at a specific targeted site. Drug delivery system improves the efficacy and safety of drug by controlling the rate, time and release of drug in the body.
On the basis of route of administration the North America Drug Delivery Devices Market is segmented into oral, injectable, topical, pulmonary, nasal, ocular, implantable and transmucosal. Oral drug is further segmented based on form into solid drug, semi-solid drug and liquid drug.
The solid drugs include and are categorized as tablets, capsules, powders and pills. The semi-solid drugs are further segmented into gels, emulsions and elixirs.
The liquid drugs are further classified into solutions and syrups.
The pulmonary drug delivery segment is further classified into metered dose inhalers (MDI), dry powder inhalers (DPI) and nebulizers. The nebulizers are further sub segmented into jet nebulizers, ultrasonic nebulizers and soft mist nebulizers.
Ocular drug delivery devices are segmented into liquid ocular drugs, semi solid ocular drugs and ocular devices. Liquid ocular drug delivery includes eye drops and liquid sprays.
Semi solid ocular drug delivery includes gels and ointments. The ocular device includes drug coated lenses and ocular inserts.
Nasal drug delivery devices are segmented into nasal drops, powders, gels, and sprays. The topical drug delivery segment is segmented based on form into liquid, semi-solid, solid and transdermal.
The transdermal topical drug delivery device includes transdermal patches and transdermal gels. The implantable drug delivery devices segment includes active and passive implantable drug delivery devices.
On the basis of end users the North America Drug Delivery Devices Market is segmented into hospitals, over the counter, ambulatory surgery centers/clinics, home care settings, diagnostic centers, and others. The hospitals segment dominates the North America drug delivery devices market.
Home care settings segment is considered to be the fastest growing market with the CAGR of 5.1%.
The major factors contributing to the growth of the North America drug delivery devices market are rising prevalence of chronic diseases, growth of biologics, new product launches, drug innovation, technological advancements, and decrease in the level of pain.
Based on geography the North America Drug Delivery Devices Market is segmented into:
U.S. is expected to dominate the market due to rising prevalence of chronic diseases, large healthcare expenditure, and paradigm shift towards value based reimbursements. U.S. dominates the market and is expected to account for the largest share of 93.2% in 2016.
This market to poised to witness the largest share due to the increasing prevalence of chronic diseases, development of biologics and pharmaceutical drugs and devices, increasing patient compliance and patient safety.
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