According to a report by Grand View Research, Inc., global novel drug delivery systems (NDDS) in cancer therapy market is anticipated to value USD 26.61 billion by 2025. Growing requirement for advanced medical devices to avail better treatment is anticipated to propel demand for novel drug delivery systems. These systems are likely to protect drugs essential for cancer treatment from enzymatic and chemical degradation.
Growing need for cancer therapeutic drugs owing to rising cases of cancer is expected to influence growth of market. Spreading awareness among patients regarding availability of alternative methods of cancer treatments can stimulate market growth. Rising cases of cancer owing to unhealthy lifestyle is anticipated to influence growth of market. Increasing R&D investments to expand product pipeline and for regulatory approvals of new products can influence market growth. Supportive reimbursement scenarios in developed nations coupled with availability of research funding is likely to augment market growth during the forecast period (2014 to 2025).
Full Research Report On Novel Drug Delivery Systems (NDDS) In Cancer Therapy Market Analysis :
The NNDS in cancer therapy market can be segregated on the basis of product and region. Based on product, the market can be categorized into embolization particles and nanoparticles. In 2016, nanoparticles segment dominated the market and accounted of largest market share. It is anticipated to grow at similar pace during the forecast period. These type of drug delivery systems are expected to encapsulate various drugs and protect them from enzymatic and chemical degradation. In addition, they can provide long circulation half-lives, improved pharmacokinetics and reduced side effects. Moreover, these systems can also offer enhanced permeability to allow efficient delivery of drugs to cancer tissues.
Based on aforementioned properties, nanoparticles can replace conventional chemotherapy treatment attributed to less risk to healthy tissues and high efficiency. Nanoparticles can be categorized into micelles, liposomes, polymers, and other nanoparticles. Micelles and liposomes are likely to be used for DNA delivery & targeting and can increase drug efficacy. In 2016, liposomes segment held for largest market share under nanoparticles segment. It is expected to grow at similar pace during the forecast period.
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On the contrary, embolization particles segment can be classified further into liquid emboli, PVA particles, drug eluting beads, and other embolization particles. These particles can be injected into small vessels providing blood to cancer cells. Such procedures can allow easy surgical reception of cancer cells resulting from reduced blood loss.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. In 2016, North America region dominated the market and accounted for 36.8% revenue share. Increasing number of research activities to develop new therapies can fuel growth of market in the region. In addition, growing awareness availability of novel drugs attributed to promotional and marketing activities of manufacturers is anticipated to propel market growth. Moreover, growing budget for novel drug discovery coupled with increasing number of food and drug administration (FDA) approvals can also fuel market growth in the region.
On the contrary, European market followed North America and stood second in terms of revenue share in 2016. It is expected to witness significant growth during the forecast period attributed to growing healthcare expenditure. High prevalence of cancer patients coupled with rise in research funding for cancer treatments can fuel market growth. Many local organizations in United Kingdom and Germany are expected to fund new technologies, which in turn can influence market growth in the region.
In Asia Pacific, the market is expected to grow at fastest rate during the forecast period. Rising cases of cancer in China and Japan owing to increasing geriatric population can stimulate market growth. In addition, increasing number of research activities coupled with growing awareness regarding availability of new cancer therapies can augment growth of market in the region.
Some of the leading companies offering NNDS in cancer therapy are Merrimack Pharmaceuticals, Inc.; Teva Pharmaceutical Industries Limited; Johnson & Johnson Services, Inc.; Samyang Biopharmaceuticals Corporation; and Celgene Corporation. Geographic expansions, frequent product launches, and distribution agreements to increase customer base are likely to be key strategies players can undertake to expand their market share. In addition, companies are likely to invest in R&D activities to develop new and innovative NDDS systems in cancer therapy to expand their product portfolio.
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