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Novel Drug Delivery System (NDDS) Market - Global Industry Insights

06-16-2018 01:13 PM CET | Health & Medicine

Press release from: Pharmaceutical

Novel Drug Delivery System (NDDS) Market - Global Industry

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. The side effects and slow processing of conventional drug therapy are contributing to the emergence of novel drug delivery system’s concept. Novel ideas based on interdisciplinary approaches controlling the pharmacodynamics, immunogenicity, pharmacokinetics, bio-recognition, and efficiency of drugs were generated. This new system helps in reducing the drug degradation, increasing availability of drugs, and prevent from harmful side effects of drugs. 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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Increasing use of novel drug delivery system in cancer therapy is driving the market

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.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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