South America Drug Delivery Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Device Type (Self-Injection Devices, Conventional Devices), By Formulation Type (Conventional Drug Delivery, Novel Drug Delivery), By Therapeutic Use (Autoimmune Disorders, Hormonal Disorders, Oncology), By End-User (Hospitals, Homecare Settings, Research Institutes, Clinical Laboratories), And By Country- Forecasts From 2022 To 2027

The South America drug delivery market is evaluated at US$27.033 billion for the year 2020 and is expected to grow at a CAGR of 8.94% to reach the market size of US$56.550 billion by the year 2027.

The leading innovations and developments taking place in the medication field of Latin American countries are accounting for the devastating growth of the South American drug delivery market. The developed healthcare and pharmaceutical facilities of Latin American countries like Brazil, Peru, Argentina, etc., are boosting the market growth of the South American drug delivery market. The increasing population rate in South American countries like Brazil is demanding the need for more medication and healthcare developments in hand to hand with the rising population. The rising population rate and developing medical infrastructure of South American countries are giving potential to the market growth of the South American drug delivery market. The introduction of key players in the global drug industry is also driving the market growth of the South American drug delivery market. The new policies and support given by the government are also developing the medical and pharmaceutical field of South American countries, boosting the market growth of the South American drug delivery market in the forecasted years.

The outbreak of the COVID pandemic had adversely affected the market growth of the South American drug delivery market. The COVID pandemic had severely hampered the economic stability of South American countries. The increased consumption of medicinal drugs and pharmaceuticals resulted in less stock and availability of medicinal drugs in the shops and pharmaceutical companies.  According to the reports of WHO (World Health Organisation), the mortality rate and spreading rate of COVID19 were very high in the South American region. The lockdowns and isolations imposed by governments of South American countries to control the spread of COVID-19 had resulted in the shutdown of non-governmental plants and manufacturing units. Even though the production of medicinal drugs is increased by the government, the shutdown of certain less chronic diseases medicines manufacturing units of private companies resulted in the downfall of the South American drug delivery market. The lockdowns and isolations also tampered with the supply chain sector of the drug delivery market, declining the import and export rate of medicinal drugs resulting in the downfall of the South American drug delivery market.

Increasing trend of chronic lifestyle diseases

The rising trend of lifestyle diseases is one of the major factors driving the market growth of the South American drug delivery market. The increased consumption of medicinal injectable drugs like insulin stands as an example of the rising consumption of medicinal drugs in South American countries. The reports of NCBI (National Centre for Biotechnology Information) claim that the mortality rate of cancer is also increasing in South American countries. IDF (Intermediate Distribution Frame) states that approximately about 16 million people in Brazil and 12 million people in Mexico are suffering from the impacts of diabetes. The increasing number of diseases in South American countries is scoping for advanced medical and pharmaceutical facilities. The developing medical and pharmaceutical field of South American countries is boosting the market growth of the South American drug delivery market.

Development of medical and pharmaceutical field

The support provided by the governments of South American countries in the welcoming of major players in the medicinal drugs and medical devices industries is pushing the market growth of the South America Drug delivery market to new limits. The improving economic stability of South American countries is making the governments of South American countries in investing more in the medical and pharmaceutical development field. The support provided by the government in new research and developments in the medicinal drug and medical field is also hiking the market of drug delivery in the South American region. The rising need for hormonal and health drugs and injectables as a result of the increasing population is pushing the South American drug delivery market.

South America Drug Delivery Market Scope:

Segmentation

• By Device Type
  • Self-injection Devices
  • Conventional Devices
• By Formulation Type
  • Conventional Drug Delivery
  • Novel drug Delivery
• By Therapeutic Use
  • Autoimmune Disorders
  • Hormonal Disorders
  • Oncology
• By End-User
  • Hospitals
  • Homecare settings
  • Research Institutes
  • Clinical Laboratories
• By Country
  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America