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Novel Drug Delivery Systems in Cancer Therapy Market Study Analysis with Forecast to 2031
The global novel drug delivery systems cancer therapy market is estimated to reach over USD 63.25 billion by 2031, exhibiting a CAGR of 22.41 % during the forecast period.
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Advancements in drug delivery technologies are significantly enhancing cancer therapies by improving treatment effectiveness and extending the duration of therapeutic action. These innovative delivery systems contribute to better patient adherence through reduced dosage frequency.
A key factor propelling this market is the global rise in cancer cases. Additional drivers include increased funding for research, growing awareness of alternative treatment options, and favorable reimbursement policies in developed economies.
List of Prominent Players in the Novel Drug Delivery Systems Cancer Therapy Market:
Teva Pharmaceutical Industries Ltd.
Johnson & Johnson Services, Inc
GALEN
Merrimack Pharmaceuticals, Inc
Shire
Samyang Biopharmaceuticals Corporation
Celgene Corporation
Spectrum Pharmaceuticals, Inc
BTG
Market Dynamics:
Drivers-
The growth of the novel drug delivery systems (NDDS) market in cancer therapy is being fueled by rising healthcare expenditures and substantial investments in research and development by key pharmaceutical companies. These investments are aimed at creating innovative cancer treatment methods. Other key contributors to market expansion include the increasing global burden of cancer, a surge in research initiatives focused on discovering new therapies, and active marketing and promotional efforts by pharmaceutical firms.
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Challenges:
Despite the promising outlook, the market faces several barriers. High treatment costs remain a significant challenge, particularly in lower-income regions. A lack of awareness regarding alternative cancer therapies and limited funding for innovative drug delivery development are additional constraints.
Regional Trends:
North America is poised to dominate the NDDS cancer therapy market, with a strong revenue share and high compound annual growth rate (CAGR) anticipated over the forecast period. Factors driving this include growing research activities, an uptick in cancer cases, and favorable regulatory environments. The U.S. Food and Drug Administration (FDA) plays a key role through the approval of advanced therapeutics and a rise in clinical trial activity across the region.
Asia-Pacific is also emerging as a promising market. The increasing cancer burden in countries like China and Japan, an aging population in Japan, growing public awareness about innovative treatment methods, and strategic collaborations to enhance cancer research are contributing to regional market growth. These dynamics suggest the Asia-Pacific region will continue gaining ground in the global NDDS landscape.
Recent Developments:
• In June 2022-Dual Chamber Bags (DCB), which Cufic Biosciences Ltd., are 2-Chamber IV bags made of polypropylene (DEHP free) with a peelable aluminum foil that allow the storage of unstable pharmaceuticals that need to be reconstituted right before being administered to the patient.
• In October 2019-The US National Institutes of Health (NIH) announced plans to spend $100 million over the next four years on gene therapies to treat HIV and sickle cell disease. The market will expand due to the government's backing for gene treatments.
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Segmentation of Novel Drug Delivery Systems in Cancer Therapy Market-
By Product
• Nanoparticles
o Liposomes
o Polymer
o Micelles
o Other nanoparticles
• Embolization particles
o PVA particles
o Drug-eluting beads
o Liquid emboli
o Other embolization particles
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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