Novel Drug Delivery System (NDDS) Market To Witness Widespread Expansion During 2026
Novel Drug Delivery System (NDDS) refers to the formulations, systems to transport pharmaceutical compound in the body, and approaches needed to achieve the desired therapeutic effect.
Novel Drug Delivery System (NDDS) refers to the formulations, systems to transport pharmaceutical compound in the body, and approaches needed to achieve the desired therapeutic effect.
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Increasing use of novel drug delivery system in cancer therapy is driving the market<br />
Growing prevalence of chronic diseases, drug innovation, and the rising biologics market is also<br />
contributing to the growth of novel drug delivery systems market. According to data published by<br />
Fraser Institute Canada in July 2016, around 22% of overall sales of pharmaceutical firms in 2013 and<br />
expected to reach 32% by 2023 globally. The global spending on biologics has increased by 7% as<br />
compared to previous year.<br />
Effectiveness of novel drug delivery system in cancer therapy is also a major factor propelling the<br />
novel drug delivery systems market growth. For instance, according to the data published by<br />
International Journal of Pharma Sciences and Research (IJPSR), around 9 million deaths occurred due<br />
to cancer in 2015 and estimations reveal that around 11.4 million people are expected to die due to<br />
cancer by 2030. However, patent cliff, patent expiry, and an increase in injury cases are the factors<br />
hindering the growth of global novel drug delivery systems market.<br />
Key industry players are adopting strategy such as geographical expansion and agreement with<br />
other companies to hold the lead in the novel drug delivery system market<br />
Key industry players operating the novel drug delivery system (NDDS) market include Abbott<br />
Laboratories Limited, Johnson & Johnson, 3M Company, Bayer AG, Novartis AG, Teva<br />
Pharmaceuticals Industries Limited, Boston Scientific, AstraZeneca Plc., Sanofi SA, and Genzyme Co..<br />
The key industry players are involved in applying strategies such as geographical expansion, low-cost<br />
strategy, agreement with other companies, and penetration strategy to hold the largest share in the<br />
highly competitive novel drug delivery systems market. For instance, Vetter Pharmaceutical and<br />
Microdermics Inc. have done strategic corporation agreement recently with each other to develop<br />
innovative micro needle drug delivery system.
Change language