Novel Drug Delivery System (NDDS) Market and Factors Behind its Growing Landscape – Industry Analysis by Top Vendors, Size, Growth Factors and Forecast to 2026
Novel drug delivery system (NDDS) are approaches, technologies, and formulations for transporting pharmaceutical compounds in the body. This involves the scientific site-targeting inside the body. This new system helps in reducing drug degradation, increase availability of drugs, and prevent from harmful side effects of drugs. Moreover, this system provides various commercial and therapeutic benefits by enabling to formulate the novel drug delivery devices so that it can incorporate the drug molecules into the new delivery system.
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Rising usage of novel drug delivery system in cancer therapy is driving the market
Increasing prevalence of chronic diseases, drug innovation, and the growing biologics market is contributing to the growth of the novel drug delivery systems market. According to data published by Fraser Institute Canada in July 2016, around 22% of overall sales of pharmaceutical firms in 2013 and expected to reach 32% by 2023 globally. The global spending on biologics has increased by 7% as compared to the previous year.
Effectiveness of a novel drug delivery system in cancer therapy is also a major factor fostering the novel drug delivery systems market growth. For instance, according to the data published by the International Journal of Pharma Sciences and Research (IJPSR), around 9 million deaths occurred due to cancer in 2015 and estimations reveal that around 11.4 million people are expected to die due to cancer by 2030. However, patent cliff, patent expiry, and an increase in injury cases are some of the major factors hampering the market growth.
The efficacy of nanoparticles in therapeutics is accounting for the dominance of this segment in novel drug delivery system market
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The global novel drug delivery system (NDDS) market is segmented by route of administration type, carrier type, and end-user.
Based on the route of administration type
Based on carrier type
- Monoclonal Antibodies
Based on end-user
- Medical Research Centers
- Cancer Treatment Centers
Increase in investment in research and development for new medicines is accounting for the growth of novel drug delivery systems market in North America
Regional segmentation of the novel drug delivery system (NDDS) market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America holds the major share in the novel drug delivery systems market and this can be attributed to factors such as rising research and development in the field of drug delivery systems, the high adoption rate of new technology, and supportive reimbursement policies. According to Pharmaceutical Research and Manufacturers of America (PhRMA), the members of PhRMA have invested an estimated amount of $51.2 billion in 2014 in research and development of novel medicines. At the same time, Asia Pacific is also expected to witness growth in the novel drug delivery systems market owing to the increase in investment in the pharmaceutical and biotechnology industry and growing research and development in the healthcare sector.
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Key industry players are adopting a strategy such as geographical expansion and agreement with other companies to hold the leading position in the novel drug delivery system market
Key industry players operating the novel drug delivery system (NDDS) market include Abbott Laboratories Limited, Johnson & Johnson, 3M Company, Bayer AG, Novartis AG, Teva Pharmaceuticals Industries Limited, Boston Scientific, AstraZeneca Plc., Sanofi SA, and Genzyme Co. The key industry players are involved in applying strategies such as geographical expansion, low-cost strategy, agreement with other companies, and penetration strategy to hold the largest share in the highly competitive novel drug delivery systems market. For instance, Vetter Pharmaceutical and Microdermics Inc. have done strategic corporation agreements recently with each other to develop an innovative microneedle drug delivery system.
Table of Content
Global Novel Drug Delivery System (NDDS) Market Research Report
Section 1: Global Novel Drug Delivery System (NDDS) Industry Overview
Section 2: Global Economic Impact on Novel Drug Delivery System (NDDS) Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Novel Drug Delivery System (NDDS) Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Novel Drug Delivery System (NDDS) Market Forecast
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