The topical drug delivery market is
expected to grow at the highest CAGR during the forecast period. The high
growth in this segment is attributed to the advantages of topical drugs, such
convenience and ease of use, painless application of correct dosages at the
affected site, noninvasive nature, superior spreadability, and enhanced patient
compliance.
The growth in the North American Drug Delivery Technologies Market is majorly driven by factors such as rising prevalence
of chronic diseases, growth in the biologics market, funding initiatives for
drug delivery research, and technological advancements. Prominent players in
this market are focusing on new product launches and approvals, acquisitions,
collaborations, and expansions to strengthen their market share.
Based on route of administration, the
North American drug delivery technologies market is segmented into oral,
pulmonary, injectable, ocular, nasal, topical, implantable, and transmucosal
drug delivery.
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On the basis of type, the oral drug
delivery technologies market is segmented into solid, liquid, and semi-solid
drug delivery. Solid oral drug delivery is segmented into tablets, capsules,
pills, and powders. In 2016, tablets are estimated to account for the largest
share of the solid oral drug delivery market. High patient compliance and
acceptability are the major factors driving the growth of this market segment.
Based on type, the injectable drug
delivery market is segmented into two broad categories, namely, devices and
formulations. Devices are further segmented into conventional and
self-injectors, while formulations are further categorized into conventional,
novel, and long-acting. In 2016, novel drug delivery formulations are expected
to account for the largest share of the formulations market. Enhanced efficacy,
increased patient compliance by decreasing dose frequency, and targeted drug
delivery (which reduces side effects) are some of the key factors driving the
growth of this market segment.
On the basis of end users, the
drug delivery technologies market in North America is segmented into hospitals,
ambulatory surgical centers (ASCs)/clinics, home care settings, and other end
users. The home care settings segment is expected to register the highest CAGR
during the forecast period. Improving patient acceptability, patient awareness,
and the need for comfortable usability has increased the use of drug delivery
systems in home care settings, thus creating an array of opportunities for
growth in this market segment.
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