United States, Rockville MD, Aug. 18, 2022 (GLOBE NEWSWIRE) -- As of 2022, the global novel drug delivery systems (NDDS) market is valued at US$ 62.5 billion and is anticipated to increase at a CAGR of 6.6% through 2027.
Increasing investments in the healthcare industry, rising R&D activities, growing prevalence of chronic illnesses, and advancements in technology are factors anticipated to propel novel drug delivery systems market potential over the next five years. However, the market is expected to be hampered by the presence of strict regulatory laws and a lack of awareness of NDDS across some regions.
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Novel drug delivery system providers are expected to focus on the launch of innovative NDDS to maximize their sales potential and gain a competitive edge.
- In July 2022, Eli Lilly, a leading pharmaceutical company, collaborated with Triastek to work on gut-targeted drug delivery. Eli Lilly is expected to use Triastek’s MED 3D printing technology for the development of this drug and focus on the improvement of the oral delivery of drugs.
Which Prospects are Shaping NDDS Market Growth Path?
“Increasing Use of Drug Delivery Technology to Treat Chronic Diseases”
Drug delivery has been a crucial aspect of treatment for many diseases and with advancements in drug delivery, it has become more important in the treatment of most health conditions. The prevalence of chronic diseases such as cancer has increased exponentially over the past few years and this has led to high demand for novel systems for the delivery of drugs for the treatment procedures.
Drug delivery technology has offered some breakthrough treatment approaches for chronic diseases such as cancer and increasing research and development activities are expected to further advance the use of drug delivery in the treatment of other chronic illnesses.
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Key Segments Covered in the Novel Drug Delivery System Industry Survey
- By Route :
- Oral Drug Delivery Systems
- Injectable Drug Delivery Systems
- Pulmonary Drug Delivery Systems
- Transdermal Drug Delivery Systems
- Others
- Oral Drug Delivery Systems
- By Mode :
- Targeted Drug Delivery Systems
- Controlled Drug Delivery Systems
- Modulated Drug Delivery Systems
- Targeted Drug Delivery Systems
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
- North America
Winning Strategy
NDDS manufactures are expected to adopt strategies that could help them advance their business scope and enhance their industry presence. Mergers, partnerships, and acquisitions are expected to be highly popular amongst novel drug delivery system providers over the coming years.
A complete assessment of the competitive landscape has been provided in this latest novel drug delivery systems market study by Fact.MR, a market research and competitive intelligence provider.
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Key players in the Novel Drug Delivery System Market
- AstraZeneca PLC
- Boston Scientific
- Genzyme Co.
- Bayer AG
- Novartis AG
- Pfizer Inc.
- Sanofi SA
- Tolmar
- GlaxoSmithKline PLC
Key Takeaways from Novel Drug Delivery System Market Study
- From 2022 to 2027, sales of novel drug delivery systems are slated to rise at 6.6% CAGR.
- The NDDS market is expected to reach a valuation of US$ 86 billion by 2027.
- Increasing investments in drug delivery R&D activities, growing demand for drugs in the treatment of chronic illnesses, favorable reimbursement policies, and technological advancements are factors that will positively impact novel drug delivery systems market growth.
- High costs and stringent regulatory norms are predicted to have an adverse impact on overall NDDS market growth.
- Oral drug delivery systems are expected to account for a major market share owing to their ease of administration and high availability.
- Targeted drug delivery systems are expected to witness the fastest growth in demand than other modes of drug delivery over the coming years.
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