The Novel Drug Delivery System (NDDS) Market Is Witnessing Robust Growth in North America and Asia Pacific

Novel drug delivery system (NDDS) refers to the technologies, formulations, approaches, and systems used to transport a pharmaceutical compound in the body to safely achieve its desired therapeutic effects. In short, it is used to deliver drug other than the traditional drug delivery system. Moreover, slow processing and side effects of conventional drug delivery system are contributing to the emergence of novel drug delivery system concept. Conventional systems have many limitations such as poor water solubility, low therapeutic indices, limited targeting, and the induction of drug resistances. This in turn is expected to augment the growth of the novel drug delivery system (NDDS) market.

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Novel drug delivery system increases availability of drugs, helps reduce the drug degradation, and prevent from harmful side effects of drugs. The novel system offers various therapeutic and commercial advantages by enabling the design of new drug delivery devices so that it can incorporate drug molecules into new delivery systems. Growth of the novel drug delivery system (NDDS) market is also driven by the increasing prevalence of chronic diseases, such as cancer. According to the National Cancer Institute, in 2020, around 1,806,590 new cases of cancer were expected to be diagnosed in the United States and 606,520 people were expected to die from the disease.

Over the past few years, the use of novel drug delivery system has increased in cancer therapy. Effectiveness of novel drug delivery system in cancer therapy is also a major factor driving the growth of the market. Moreover, the Food and Drug Administration (FDA) has approved many new products with novel delivery methods. This in turn is also expected to propel the growth of the novel drug delivery system (NDDS) market. Drug discovery and development process is nowadays conducted in relatively standardized sequence of phases, starting with discovery and being followed by preclinical, clinical and non-clinical development.

Geographically, the novel drug delivery system (NDDS) market is witnessing robust growth in North America and the Asia Pacific, owing to the factors such as supportive reimbursement policies, the high adoption rate of new technology, and growing research and development in the field of drug delivery systems. For example, in June 2020, the PE firm has invested 70 crore each in ophthalmology hospital chain Sharp Sight and Pune-based Murli Krishna Pharma Pvt. Ltd, a formulations maker that focuses on developing novel drug delivery system products. Murli Krishna Pharma's customers include branded generic companies across Latin America, Africa, the Middle East, and South and Southeast Asia.

Key Players:

Abbott Laboratories Limited, Johnson & Johnson, 3M Company, Bayer AG, Novartis AG, Teva Pharmaceuticals Industries Limited, Boston Scientific, AstraZeneca Plc., Sanofi SA, and Genzyme Co.

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