NOVEL DRUG DELIVERY SYSTEM MARKET ANALYSIS

Novel Drug Delivery System MarketSize and Trends

Growing prevalence of chronic diseases, drug innovation, and the rising biologics market is also contributing to the growth of 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 previous year.

Effectiveness of novel drug delivery system in cancer therapy is also a major factor propelling the novel drug delivery systems market growth. For instance, according to the data published by 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 the factors hindering the growth of global novel drug delivery systems market.

The efficacy of nanoparticles in therapeutics is accounting for the dominance of this segment in novel drug delivery system market

The global novel drug delivery system (NDDS) market is segmented by route of administration type, carrier type, and end user.

On the basis of route of administration type, the novel drug delivery system (NDDS) market is segmented into

• Injectable
• Oral
• Pulmonary
• Transdermal
• others

On the basis of carrier type, the novel drug delivery system (NDDS) market is segmented into

• Nanoparticles
• Liposomes
• Microspheres
• Monoclonal antibodies
• others

On the basis of end user, the novel drug delivery systems market is segmented into

• Hospitals
• Medical research centers
• Cancer treatment centers
• others

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 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 owing to the factors such as growing 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. Asia Pacific is also expected to witness growth in the novel drug delivery systems market due to the increase in investment in pharmaceutical and biotechnology Industry and growing research and development in the healthcare sector.