At 5.5% CAGR, the South & Central America Drug Delivery Market is projected to be worth US$ 1,42,876.69 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America drug delivery market was valued at US$ 1,09,189.07 million in 2023 and is expected to reach US$ 1,42,876.69 million by 2028, registering a CAGR of 5.5% from 2023 to 2028. Rising incidence of chronic diseases, growing demand for noninvasive drug delivery systems, and increasing R&D expenditures in pharmaceutical companies are the critical factors attributed to the South & Central America drug delivery market expansion.        

Many chronic medical conditions worsen with time, resulting in an enormous burden on patients' families and society. The increased prevalence of chronic diseases has promoted more intensive research and development (R&D) in drug delivery systems in the past few decades. The therapeutic efficacy of drugs used to treat chronic disease can be improved with optimal drug delivery systems, such as nanoparticles (e.g., ceramic, polymeric, and metallic), micelles, liposomes, and dendrimers. Administration of a drug with a drug delivery system can also help reduce systemic side effects of drugs. Various drug delivery vehicles have been introduced for a targeted and controlled delivery of therapeutics against a wide range of chronic diseases, such as diabetes, cancer, atherosclerosis, myocardial ischemia, asthma, pulmonary tuberculosis, Parkinson's, and Alzheimer's. An appropriate drug delivery system enhances the therapeutic efficacy of any drug by ensuring high drug bioavailability for a long duration. Targeted drug delivery systems (TDDS) release drugs in a controlled manner at a preselected site in a subject’s body. Nanotechnology-based delivery systems are making a significant impact on cancer treatment, and polymers play a key role in the development of these nanoparticulate carriers. In addition to the versatility of the administration route, a few of the noteworthy technological advantages of nanotherapeutic drug delivery systems (NDDS) are prolonged half-life, improved biodistribution, increased drug circulation time, controlled and sustained drug release, and elevated intercellular drug concentration.  Given the chronic nature of these conditions, patients with chronic diseases rely on continuous drug treatment, which is associated with an ongoing risk of side effects. Developing appropriate delivery systems for targeted drugs can promote the accumulation of targeted medicines in pathogenic lesions, reduce systemic side effects, and improve patient outcomes. Thus, the increasing incidences of chronic and lifestyle diseases bolster the growth of the drug delivery systems market.

On the contrary, high cost associated with development of drugs and delivery systems hampers the South & Central America Drug Delivery Market.  

Based on route of administration, the South & Central America drug delivery market is segmented into injectable drug delivery, oral drug delivery, transmucosal drug delivery, topical drug delivery, implantable drug delivery, and ocular drug delivery. The injectable drug delivery segment held 45.7% share of South & Central America Drug Delivery Market in 2023, amassing US$  49,597.57 million. It is projected to garner US$ 62,265.08 million by 2028 to expand at 4.7% CAGR during 2023–2028. 

Based on distribution channel, the South & Central America drug delivery market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 69.2% share of South & Central America Drug Delivery Market in 2023, amassing US$  75,756.20 million. It is projected to garner US$  1,00,842.10 million by 2028 to expand at 5.9% CAGR during 2023–2028.

Based on end user, the South & Central America drug delivery market is segmented into hospitals and clinics, home care settings, and other end user. The hospitals and clinics segment held 55.5% share of South & Central America Drug Delivery Market in 2023, amassing US$  60,617.93 million. It is projected to garner US$ 81,184.61 million by 2028 to expand at 6.0% CAGR during 2023–2028.

Based on country, the South & Central America drug delivery market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Brazil captured 44.2% share of South & Central America Drug Delivery Market in 2023. It was assessed at US$ 34,843.66 million in 2023 and is likely to hit US$ 48,293.90 million by 2028, exhibiting a CAGR of 6.7% during the forecast period.      

Key players dominating the South & Central America drug delivery market are Bausch Health Companies Inc; Baxter International Inc; Becton Dickinson and Co; Boehringer Ingelheim International GmbH; Boston Scientific Corp; GlaxoSmithKline Plc; Johnson & Johnson; Novartis AG; Novo Nordisk AS; Pfizer Inc, among others.   

• In April 2023, Baxter International Inc. announced the U.S. launch of ZOSYN (piperacillin and tazobactam) Injection. Zosyn premix is indicated for treating multiple infections caused by susceptible bacteria and is available in Baxter’s proprietary single-dose Galaxy containers. Baxter sells Zosyn premix in 2.25 g in 50 mL, 3.375 g in 50 mL, and 4.5 g in 100 mL presentations.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com