The global market for the Novel Drug Delivery System is anticipated to develop at a compound annual growth rate (CAGR) of 6.8 % throughout the course of the forecast, to reach US$ 27.82 Bn by 2031.
The growth of the NDDS market is propelled by the rising adoption of different controlled release medications, increasing demand and recognition among physicians of advanced products, and growing prescription patterns for controlled release products. There are many advances in delivery strategies that can mitigate toxicity and boost effectiveness, providing consumers with great future advantages and thus strengthen opportunities for pharmacy and drug delivery system vendors.
North America was the largest market in 2019, due to the availability of improved healthcare systems and growing prevalence of numerous chronic diseases. The regional NDDS market is projected to witness similar growth over the forecast period. In 2019, according to the American Heart Association, it was estimated that in the United States (US), cardiovascular disease (CVD) accounted for over 800,000 deaths, or one out of every three deaths. CVD accounts for 31 percent of all deaths on a global basis. By 2030, the projected cost of CVD will amount to USD 1,044 billion. Owing to the high prices and declining healthcare spending, prescription medications have to be used successfully; new drug delivery technologies may help to use drugs more effectively.
During the forecast period, the Asia Pacific market for novel drug delivery systems is projected to witness with highest CAGR owing to growing demand from emerging economies like India, China and Japan coupled with increasing geriatric population. In addition, the rise in research activities across Asia Pacific economies is projected to fuel demand growth during the forecast period. In 2019, Europe accounted for second largest market share in the global NDDS market owing to the emergence of a large number of patients, rising research & development expenditure, and high healthcare spending across the European countries.
Novel Drug Delivery System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 27.82 Bn|
|Growth Rate||CAGR of 6.8 % during 2022-2031|
|Segment Covered||by Technology, Dosage Form, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Orbis Biosciences, Inc.; Merck and Co., Inc.; Alkermes plc; Johnson and Johnson; Coating Place, Inc.; Corium International, Inc.; Depomed, Inc.; Pfizer, Inc; Aradigm Corporation; Capsugel|
Key segments of the global novel drug delivery system market
Route of Administration Overview, 2018-2028 (USD Million)
- Oral Drug Delivery Systems
- Injectable Drug Delivery Systems
- Pulmonary Drug Delivery Systems
- Transdermal Drug Delivery Systems
Mode of NDDS Overview, 2018-2028 (USD Million)
- Targeted Drug Delivery Systems
- Controlled Drug Delivery Systems
- Modulated Drug Delivery Systems
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East and Africa
Important Companies in Global Novel Drug Delivery System Market
- Abbott Laboratories
- Bayer AG
- F. Hoffmann-La Roche
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi SA
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global novel drug delivery system industry
- The overall segmentation of novel drug delivery system market, especially key segments are thoroughly studied.
- Presence of major players and their wide product portfolio across developed countries is anticipated to further boost the growth of novel drug delivery system market
What does the report include?
- The study on the global novel drug delivery system market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of applications, product, technology and end user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global novel drug delivery system market is suitable for all the players across the value chain including raw material suppliers, Novel Drug Delivery System providers, pharmaceutical and medical device manufacturers, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global novel drug delivery system market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global novel drug delivery system market