North America drug delivery market: $103 billion industry by 2017

Press Release   •   Jul 16, 2013 15:25 BST

The North America drug delivery market is suggested to have reached a value of around $66.7 billion by the end of 2012, and is forecast to grow to a value of $102.7 billion by 2017. This suggests a CAGR growth rate of around 8.9% between 2012 and 2017.

The drug delivery technologies that have recently gained importance in the North American market include orodispersible tablet (ODT), dry powder inhalers, transdermal patches, needle-free injectors, auto and pen injectors, and buccal transmucosal tablets; controlled release is the most widely accepted technology. The use of implantable devices for drug delivery is also on a rise.

The North American market for oral drug delivery technologies was estimated at $25.4 billion in 2012 and is expected to grow at a healthy CAGR of 8.6% from 2012 to 2017. Oral technologies offer easier and cost-effective reformulation strategies; hence they occupy the largest share in the market. On the other hand, pulmonary technologies market is expected to grow at the highest CAGR of 11.8%, due to the increased adoption rates of pulmonary devices and their expanding applications. This market is poised to reach $23.1 billion by 2017.

Big pharmaceutical companies such as Pfizer and Merck have established in-house capabilities for the development of drug delivery technologies. On the contrary, many other companies are still relying on specialty companies engaged in the development of drug delivery technologies. High level of competition and increasing need for outsourcing has resulted in the drug delivery market to be fragmented, with several small companies developing novel drug delivery technologies for niche therapeutic applications.

For more information on the North America drug delivery market, please click here: North America drug delivery market issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.