North American Drug Delivery Technologies Market

North American Drug Delivery Technologies Market Size

North American Drug Delivery Technologies Market to surpass USD 1080.8 billion by 2032 from USD 423.5 billion in 2021 at a CAGR of 8.9% in the coming years, i.e., 2022-32

Drug delivery systems can be defined as the technologies that transfer drugs throughout or in the body. The delivery mechanism like a pill swallowed by patients or an injection-based vaccine is one such technology. Medicine packaging like a nanoparticle or a micelle, which prevents the drug from degrading and allows it to travel the specific body part, is another term for drug delivery systems. Earlier, doctors tried to administer therapies to the body parts that were directly affected by the sickness. Some medications can be administered locally, which minimizes side effects and drug toxicity while maximizing the effectiveness of a treatment, as opposed to systemically, which has an impact on the entire body.

Market Highlights

The North American Drug Delivery Technologies Market is expected to project a notable CAGR of 8.9% in 2032.

North American Drug Delivery Technologies Market to surpass USD 1080.8 billion by 2032 from USD 423.5 billion in 2021 at a CAGR of 8.9% in the coming years, i.e., 2022-32. Recently, a number of drug delivery systems have become more noteworthy in the North American market. The most commonly accepted method is controlled release, and it comprises dry powder inhalers, orodispersible tablets (ODT), needle-free injectors, transdermal patches, buccal transmucosal tablets, and auto and pen injectors. Drug distribution through implanted devices is also becoming more popular. These factors are expected to drive the North American Drug Delivery Technologies Market over the estimated period.

North American Drug Delivery Technologies Market: Segments

The Oral Drug Delivery segment is expected to grow with a higher CAGR during 2022-32

North American Drug Delivery Technologies Market is categorized on the basis of Route of Administration into Oral Drug Delivery, Pulmonary Drug Delivery, Injectable Drug Delivery, Ocular Drug Delivery, Nasal Drug Delivery, Topical Drug Delivery, Implantable Drug Delivery, and Transmucosal Drug Delivery. The Oral Drug Delivery system is predicted to hold a leading market share due to the strong acceptance of oral drug delivery routes of administration by patients as a very practical and risk-free method of medication administration.

The Disease Treatment segment is expected to grow with a higher CAGR during 2022-32

North American Drug Delivery Technologies Market is categorized on the basis of Application into Disease Treatment and Research/Academic Purposes. The Disease Treatment segment is anticipated to have a sizeable market share since medication delivery is frequently used to treat chronic and other widespread disorders. Also, the number of patients suffering from chronic diseases is rising on a global scale, which ultimately impacts the segment growth.

Market Dynamics

Growth Drivers

Growing Prevalence of Several Chronic Diseases and Innovations in the Drug Delivery Systems

In past years, the North American region has witnessed a significant rise in the prevalence of several illnesses and medical conditions, including cancer, respiratory diseases, cancer, diabetes, cardiovascular diseases, and neurological disorders. The demand for the drug delivery market in the region is anticipated to rise as a result of the persistent rise in the prevalence of common chronic disorders. Transdermal patches, injectable and pulmonary drug delivery systems, and other recent advancements and improvements in the drug delivery system are all contributing to the growth of the North American Drug Delivery Technologies Market over the projection period.

Progressing Biologics Domain and Growing Competition due to the Production of Branded and Generic Drugs

The pharmaceutical market's fastest-growing sector is biologics. The market for drug delivery in the North America will grow on the back of the growth of biologics. With numerous new competitors entering the market, the development and production of both branded and generic medications are becoming more and more competitive. The market will become more competitive as a result.

Restraint

Strict Regulations by the FDA for Approval of Drugs and Medical Devices

The development of the market during the forecast period may be hampered by the strict requirements for the approval of pharmaceuticals and medical devices. The FDA has a five-step approval process and it is mandatory to obtain FDA’s permission before selling any medication on the North American region. The rules are highly rigorous, which is limiting the growth of the North American Drug Delivery Technologies Market throughout the anticipated period.

North American Drug Delivery Technologies Market:

Key Players

• Johnson & Johnson Inc.
• Medtronic PLC
• 3M Company
• Pfizer Inc
• Becton, Dickinson and Company
• Merck & Co. Inc.
• Boston Scientific Corporation
• Cipla Inc.
• Gerresheimer AG
• West Pharmaceutical Services Inc.
• Other Prominent Players

        (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

North American Drug Delivery Technologies Market: Regions

North American Drug Delivery Technologies Market is segmented based on regional analysis into two regions: United States and Canada. Throughout the projected period, the U.S. is anticipated to maintain its market dominance. The U.S. has a significant market share in North America, which is primarily due to factors like the rising cases of chronic diseases, the aging population's rapid growth, the rising number of regulatory approvals, and the biologics market, technological advancements, and new product launches.

Impact of Covid-19 on North American Drug Delivery Technologies Market

The COVID-19 pandemic caused a rise in the medicine delivery market in North America as the region's need for healthcare surged dramatically due to the disease spread. The North American Drug Delivery Technologies Market has grown due to ineffective healthcare infrastructure, a lack of pharmaceuticals, and other factors. Moreover, the pandemic made the FDA approval process somewhat simpler, which contributed to the growth of the industry.

North American Drug Delivery Technologies Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

North American Drug Delivery Technologies Market report also contains analysis on:

North American Drug Delivery Technologies Market Segments:

• By Route of Administration
  • Oral Drug Delivery
  • Pulmonary Drug Delivery
  • Injectable Drug Delivery
  • Ocular Drug Delivery
  • Nasal Drug Delivery
  • Topical Drug Delivery
  • Implantable Drug Delivery
  • Transmucosal Drug Delivery
• By Type
  • Advanced
  • Conventional
• By Application
  • Disease Treatment
  • Research/Academic Purposes
• By End User
  • Hospitals
  • Home Care Settings
  • Ambulatory Surgical Centers/Clinics
  • Others
• North American Drug Delivery Technologies Market Dynamics
• North American Drug Delivery Technologies Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

North American Drug Delivery Technologies Market Report Scope and Segmentation

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