North America Pharmaceutical Drug Delivery Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Route of Administration ; Application ; End User ; and Country
- June 2020 •
- 145 pages •
- Report ID: 5915451 •
- Format: PDF
The growth of the North America pharmaceutical drug delivery market is primarily attributed to the increasing prevalence of chronic diseases.However, the high cost of drug delivery device development is among the major factor limiting the growth of the market.
Further, growth in drug delivery technology and innovations is expected to have a positive impact on the growth of the North American pharmaceutical drug delivery market in the coming years.
Drug delivery systems are medical devices used to inject drugs or therapeutic chemicals into the body.Several types of the drug delivery systems available in the market include transmucosal, oral, pulmonary, injectable, topical, nasal, implantable, and ocular, among others.
These systems are enabled with the technologies that are primarily used to have a controlled or targeted delivery of various therapeutic agents for the treatment of multiple diseases.
Many healthcare stakeholders in North American countries are focusing on changing the overall landscape of the oral, topical, transmucosal, subcutaneous, and other markets to deliver better health care.The increasing rate of chronic diseases such as cardiovascular disease (CVD) and diabetes is one of the main factors contributing to the upsurge in pharmaceutical drug delivery industry in North America.
Due to the hectic present-day lifestyle, CVDs such as angina pectoris, therosclerosis, and acute myocardial infarction have been acting as a significant cause of mortality, not only in North America but also in the whole world.In Canada, CVDs are the second leading cause of deaths.
According to Health Canada, ~1 in 12 Canadians, aged 20 and above, live with a diagnosed heart disease in the country. Moreover, according to the World Heart Federation (WHF), noncommunicable diseases, including cardiovascular diseases, accounted for ~77% of total deaths in Mexico in 2016.
Diabetes is one of the life-threatening chronic diseases with no functional cure, and it can increase the overall risk of premature death.Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes.
As there is a significant increase in diabetes cases worldwide, it is resulting in life-changing complications among the population.According to the International Diabetes Federation (IDF), in 2017, 46 million diabetic patients were reported in North America, which has been expected to reach 62 million by 2045.
The disease prevalence is likely to rise by ~35% during the forecast period. Exogenous insulin is usually administered through a subcutaneous route. owing to the above mentioned factors propelling the growth of the pharmaceutical drug delivery market in North America.
In 2019, injectable drug delivery accounted for the largest share in the North American pharmaceutical drug delivery market, based on the route of administration. However, the topical drug delivery segment is estimated to mark the highest CAGR in the market during the forecast period owing to the increasing number of patients with skin diseases and gradual shift in patient preference for novel transdermal delivery systems.
Several significant primary and secondary sources related to this study on the pharmaceutical drug delivery market in North America are Centers For Disease Control And Prevention (CDC), Food and Drug Administration (FDA), Ministry of Health and Prevention (MoHAP), Ministry of Health and Family Welfare (MoHFW), and American Cancer Society (ACS), among others.