The major factors for the growth of the novel drug delivery systems (NDDS) market include the growing need of controlled release of drugs, advancement in pharmacology promoting increased adoption of novel drug delivery systems (NDDS), and technological advancements promoting the development of NDDS.
New York, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Novel Drug Delivery Systems (NDDS) Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p06009449/?utm_source=GNW
There has been a remarkable increase in the adoption of controlled release drug delivery systems owing to various factors such as the prohibitive cost of developing new drug entities, expiration of existing international patents, the discovery of new polymeric materials suitable for prolonging the drug release, and the improvement in therapeutic efficiency. The adoption of controlled release systems has grown over the past decade rapidly, and the growth rate is expected to sustain during the forecast period.
The increasing adoption of various controlled release drugs, increasing demand for and awareness about advanced products amongst physicians, and growing prescription trends for controlled release products are propelling the growth of the NDDS market. There are many improvements made in delivery techniques which can minimize the toxicity and improve the efficacy, to offer great potential benefits to the patients helping to open up new markets for pharmaceutical and drug delivery companies.
Key Market Trends
Oral Drug Delivery Systems is the Segment under Route of Administration is expected to be Fastest Growing Market over the Forecast Period
Oral drug delivery has found to be the most preferred and convenient route of drug administration, due to high patient compliance, cost-effectiveness, least sterility constraints, flexibility in the design of dosage form, and ease of production. The oral route is found to be the most popular and successful route for controlled delivery of drugs because of its flexibility in the designing of dosage form than other routes. The immediate release of conventional dosage form lack in the efficiency of controlling the proper plasma drug concentration. This factor as well as factors, such as repetitive dosing and unpredictable absorption help in driving the oral controlled release drug delivery systems. In oral administration, drugs should be protected under unstable biological environments, including drug degradation induced by the GI tract and first-pass liver effects after oral administration before reaching the targeted sites. There are different mechanistic aspects for design of oral controlled release drug delivery systems, such as matrix, reservoir, osmotic pressure, ion exchange resins, altered density, etc. The oral drug delivery is majorly driven by the increasing incidence of chronic diseases, improving patient compliance, reformulation and repositioning of drugs using advanced oral delivery systems, and huge investments made by big pharmaceutical companies on in-house capabilities for the development of oral drug delivery technologies.
North America is expected to account for Largest Market Share in the Global Market
North America is expected to be the largest market owing to the presence of better healthcare infrastructure and rising prevalence of various chronic diseases. Cardiovascular disease (CVD) is the leading cause of death and a major cause of disability worldwide. According to the American Heart Association, 2017 reports that cardiovascular disease (CVD) accounts for approximately 800,000 deaths in the United States (US), or one out of every three deaths. On a global level, CVD accounts for 31% of all deaths. The estimated cost of CVD will be USD 1,044 billion by 2030. African–Americans are more prone to these diseases; nearly 48% of women and 46% of men have some form of cardiovascular disease. The report estimates that the direct and indirect costs (along with lost productivity due to cardiovascular diseases and stroke) are over USD 400 billion, annually. Pharmaceutical drugs have to be used efficiently due to the associated high costs and reducing healthcare spending; novel drug delivery systems can help in using drugs more efficiently. Targeted delivery systems, which can specifically target a diseased part of the body, can help treat some diseases that require low amounts of the drug. Also, they can also eliminate side-effects associated with excessive drug use or drugs accumulated at the wrong site, thus, decreasing the overall cost associated with the procedure. According to Pharmaceutical Research and Manufacturers of America (PhRMA), the members of PhRMA have invested USD 51.2 billion in 2014 in R&D of novel medicines. Also, FDA approvals for commercial availability of NDDS and rise in the number of clinical trials for this therapy are expected to boost the market growth in this region.
The market studied is consolidated market owing to the presence of major market players. The market players are focusing on the development of innovative treatment options in order to grab maximum market share. Some of the market players are Abbott Laboratories, AstraZeneca PLC, Bayer AG, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Sanofi SA
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06009449/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001