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The North American injectable drug delivery technologies market was valued at $9.3 billion in 2012; it is expected to reach $16.6 billion by 2017 at a CAGR of 12.3% from 2012 to 2017. Injectable drug delivery technologies are the combination of two major segments; devices and formulations. The North American injectable drug delivery formulations technologies market was the largest segment in this market. In addition, the market is segmented on the basis of its therapeutic applications. In therapeutic area, hormonal disorders command the major segment of injectable drug delivery technologies market due to high demand of injectable in treatment of diabetes. However, auto-immune diseases are the fastest growing segment of this market due to the advent of biologics (tumor necrosis factor (TNF) and Interleukin 1 (IL-1)) and improving patient compliance by the development of self injection devices.
The major markets covered in this report are United States and Canada. The United States accounted for the largest market of the North American injectable drug delivery technologies market in the year 2012. However, Canada is expected to witness high growth due to growing prevalence of diabetes and autoimmune diseases such as multiple sclerosis and rheumatoid arthritis, increase in approval of injectable formulation and device, favorable reimbursement and rise in injectable cosmetic treatments.
The growth of the injectable drug delivery technologies market is driven by factors such as innovations in injectable drug delivery devices, rising prevalence of diabetes in the U.S. and Canada, improving patient compliance and rise in partnerships, collaborations and acquisitions among prominent players in this market. However, factors such as product recalls, regulatory hurdles for approval of new devices and formulations and needle-stick injuries and infections, are restraining the growth of the market.
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