Research Nester published a report titled “Novel Drug Delivery Systems Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global novel drug delivery systems in terms of market segmentation by delivery type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global novel drug delivery systems market is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of delivery type into oral drug delivery, injectable drug delivery, pulmonary, transdermal drug delivery, implantable drug delivery, and others, out of which, the implantable drug delivery segment is anticipated to hold a substantial revenue share over the forecast period. This can be attributed to the application implantable drug delivery to treat complex issues, such as, cancer treatment, contraception, hormone regulation, and others.
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The global novel drug delivery systems market is anticipated to witness growth on the back of the demand for targeted drug release in a more controlled manner, specifically for the treatment of cancer cells. Additionally, the increasing prevalence of cancer is estimated to further boost the market growth. According to the data by the World Health Organization (WHO), 10 million deaths were caused by cancer, in 2020. Furthermore, the increasing healthcare expenditure worldwide, combined with the growing investment in R&D activities, are estimated to boost the market growth.
On the basis of geographical analysis, the global novel drug delivery systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period, owing to the increasing healthcare research activities, high health expenditure, and adoption of advanced technology in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Need for Advanced Targeted Drug Delivery to Fuel the Market Growth
Targeted drug therapy is one of the most common treatment approaches to treat cancerous growth. The increasing implementation of targeted drug delivery for cancer treatment is estimated to boost the market growth. Moreover, the escalating incidences of cancer globally, is further expected to propel the market growth.
However, increasing adoption of generic drugs is expected to operate as key restraint to the growth of global novel drug delivery systems over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global novel drug delivery systems which includes company profiling of Mylan N.V., Novartis International AG, Sanofi S.A, GlaxoSmithKline plc, Merck & Co., Inc., Otsuka Pharmaceutical Co., Ltd., Abbott Laboratories, Teva Pharmaceutical Industries Ltd., and Antares Pharma, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global novel drug delivery systems that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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