North America Injectable Drug Delivery Market is Growing at a Significant Rate in the Forecast Period 2017-2024

North America Injectable Drug Delivery Market is expected to reach USD 354.53billion by 2024 from USD 154.05 billion in 2016, at a CAGR of 5.4% 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.

North America Injectable Drug Delivery Market

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Segmentation: North America Injectable Drug Delivery Market

By Type (injectable drug delivery device, injectable drug delivery formulation), Applications (Hormonal Disorders, Oncology, Autoimmune Diseases, Orphan Diseases), Usage Pattern (Curative Care, Immunization), Mode of Administration (Skin, Circulatory, Organs, Central Nervous System), End User (Hospitals & Clinics, Home Care Settings, Research Laboratories, Pharma& Biotech Companies),Country (United States, Canada, Mexico)

Drivers: North America Injectable Drug Delivery Market

Some of the major factors driving the market for injectable drug delivery market are increasing use of biologics, rising prevalence of chronic diseases, increasing occurrence of needle-stick injuries, and the benefits of injections (convenience, ease of use, and reduced pain). These factors increase the demand for devices such as safety syringes, prefilled syringes, and auto-disabled syringes. Increasing prevalence of chronic diseases, rising demand for self-injection devices, growth of the biologics, and technological advancements are the major factors driving the growth of the injectable drug delivery market

RISING CASES OF CHRONIC DISEASES

In recent years, the prevalence of chronic diseases (such as cancer, diabetes, hormonal disorder, and many others) across the globe has increased considerably over a period of time. The rapidly increasing aging population and the subsequent rise in chronic conditions are major factors driving the demand forself-injection devices and cost of healthcare.

RISING DEMAND OF SELF-INJECTION DEVICES

Self-injection devices are a combination of automatic injection systems with audio-visual guides for surgeries; this includes safety syringes and hidden needles, among others. It has also emerged as one of the fastest growing areas for unit dose medication in order to minimize drug waste and increase product lifespan.

GROWTH OF BIOLOGICS MARKET

The biologics market is considered to be the fastest-growing sector of the pharmaceutical industry. Biologics are large molecules that require to be administered by injections given their size and profile. Biologics are medicines made from living cells through highly complex manufacturing processes used to prevent, treat, diagnose, or cure a variety of serious and chronic illnesses including cancer, chronic kidney disease, autoimmune disorders, and infectious diseases.

TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN DRUG DELIVERY MARKET

The injectable drug delivery technology market is expected to show significant growth in the coming years, due to various technological advancements and new product launches in order to improve the convenience and ease of administration of parenteral therapeutics.

Major Players: North America Injectable Drug Delivery Market

Some of the major players operating in this market are Baxter International, Inc., Becton Dickinson and Company, Gerresheimer AG, Pfizer, Inc., Schott AG, Alkermes Plc., Eli Lilly and Company, Sandoz, Terumo Corporation, Teva Pharmaceuticals Industries Ltd., Bespak, Antares Pharma, Elcam Medical, Haselmeier, Mylan N.V., Novo Nordisk, Owen Mumford Ltd,Sanofi, West Pharmaceutical Services, Inc, Ypsomed Holding AG.