Zion Market Research has published a new report titled “Novel Drug Delivery Systems (NDDS) in Cancer Therapy Market by Type (Nanoparticles and Embolization Particles): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for novel drug delivery systems (NDDS) in cancer therapy market was valued at approximately USD 6.42 billion in 2018, and is expected to generate revenue of around USD 27.67 billion by end of 2025, growing at a CAGR of around 23.2% between 2019 and 2025.
The study provides a crucial view on the novel drug delivery systems (NDDS) in cancer therapy by segmenting the market based on type and region.
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Novel drug delivery system (NDDS) refers to formulations, approaches systems and technologies that safely transport drugs or pharmaceutical compounds at specific site in the body to achieve desired therapeutic effects. NDDS incorporates combination of new dosage forms and advance technique which offer better therapeutic profiles over conventional dosage forms. NDDS are widely used across the globe due to various advantages it offers such as optimum dose at specific target site at right time, efficient use of drugs and excipients, improved comfort, low production cost etc. NDSS makes use of embolization particles and nanoparticles. The drug is encapsulated inside the embolization particles and nanoparticles, which protecting the drug from harsh environment and chemical or enzymatic degradation inside the cellular environment. NDSS in cancer therapy focuses on reducing dose administration frequency, minimizing side effects, achieving uniform profile of drug release, and minimizing fluctuating levels of circulating drugs.
Novel drug delivery system (NDDS) in cancer therapy market is witnessing a rapid growth. This growth of the market is driven by various factors such as increasing cancer prevalence across the globe, increasing preference for efficient and novel drug delivery systems that minimize the incidence of adverse events in cancer patients, and increasing cancer awareness. Additionally, increasing R&D investment by major players for novel cancer therapy development, increasing health care spending, favorable reimbursement policies for cancer and upcoming regulatory approvals for new pipeline drugs are important factors that are projected to fuel the market growth. However, high cost of NDDS therapy may impede the market growth over the forecast period. Emerging markets with increasing cancer prevalence and geriatric population are projected to open new growth opportunities for major players in novel drug delivery systems (NDDS) in cancer therapy market.
Based on type, market is segmented into embolization particles and nanoparticles. In 2018, nanoparticles type segment held largest market share. This large share is attributed to their high efficiency. Nanoparticles protect the drug from chemical and enzymatic degradation on exposure to harsh cellular environment by encapsulating the drug. Nanoparticles help improve the pharmacokinetic profile of the drug. Also, drug half-life is increased with the use of nanoparticles and thus longer drug circulation time is achieved. Nanoparticles enhance permeability and have lesser side effects. Thus owing these advantages, nanoparticles are gaining momentum in the market as novel drug delivery system for cancer therapy. Nanoparticles type segment is sub categorized into liposomes, polymers, micelles, and other nanoparticles. On the other hand, embolization particles product type segment is sub-categorized into PVA particles, liquid emboli, drug eluting beads, and other embolization particles.
North America was dominant regional market in 2018 for global novel drug delivery systems (NDDS) in cancer therapy market. Growing cancer prevalence, increasing number of research projects for novel therapy development, rise in R&D spending availability of advanced R&D infrastructure, increasing promotional activities by manufacturers to create awareness about novel therapies with lesser adverse effects and favorable reimbursement policies are factors driving the market in this region. Europe was second leading regional market for NDDS in cancer therapy market. This is due to faster adoption of novel therapies in developed European countries like Germany, UK, France etc., favorable reimbursement policies for cancer and growing awareness for advanced cancer therapies with minimal adverse effects. Latin America is estimated to be moderately growing region over the forecast period. Asia Pacific region will register rapid growth during the forecast period for novel drug delivery systems (NDDS) in cancer therapy market. Growing cancer prevalence, increasing elderly population, increasing awareness about novel therapies due to promotional activities and increasing healthcare spending are factors likely to promote market growth over the forecast period. Middle East and Africa region is estimated to show considerable growth in coming years.
Major players included in the report are Spectrum Pharmaceuticals, Inc., BTG, Samyang Biopharmaceuticals Corporation, Celgene Corporation, Merrimack Pharmaceuticals, Inc., Shire, Johnson & Johnson Services, Inc., Teva Pharmaceutical Industries Ltd., and GALEN among others.
The report segment of global novel drug delivery systems (NDDS) in cancer therapy market as follows:
Global Novel Drug Delivery Systems (NDDS) in Cancer Therapy Market: By Type
Global Novel Drug Delivery Systems (NDDS) in Cancer Therapy Market: By Region
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