The North America Novel Drug Delivery Systems Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 5.8% during the forecast period, 2023 – 2031. The growth of the market is attributed growing requirement for devices that confer controlled release of drugs. Moreover, the technological advancements promoting the development of NDDS is driving the market growth.
Novel drug delivery system (NDDS) is a carrier that maintain the drug concentration in therapeutic range for longer period of time. This system refers to the approaches, formulations, and technologies used for transporting a pharmaceutical compound in the body safely to achieve its desired therapeutic effects.
Novel drugs are innovative products that serve previously unmet medical requirements or significantly helps to improve patient care and public health. New molecular entity (NME) drugs are expected to fuel the growth of the market. NDDS reduces the total amount of drug administered over the period of drug treatment.
Market Trends, Drivers, Restraints, and Opportunities
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Growing awareness about its benefits such as cost-effectiveness, least sterility constraints, and flexibility in the design of dosage form is expected to augment the North america novel drug delivery systems market growth.
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Stringent regulatory guidelines can restraint the growth of the market.
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Product recalls can be a serious issue for novel drug delivery system, which in turn, can hinder the market growth.
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The COVID-19 outbreaks is expected to create lucrative opportunities for the growth of the market.
Scope of Novel Drug Delivery System Market Report
The report on the North america novel drug delivery systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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North America Novel Drug Delivery Systems Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Route of administration (Oral Drug Delivery Systems, Injectable Drug Delivery Systems, Pulmonary Drug Delivery Systems, Transdermal Drug Delivery Systems, Others), and Mode of NDDS (Targeted Drug Delivery Systems, Controlled Drug Delivery Systems, Modulated Drug Delivery Systems)
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Geographical scope
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US, Canada, and Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott Laboratories, AstraZeneca PLC, Bayer AG, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Roche Holding AG, Merck & Co., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Sanofi SA
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Novel Drug Delivery Systems Market Segment Insights
Oral drug delivery systems segment to grow at a rapid pace
Based on route of administration, the market is divided into oral drug delivery systems, injectable drug delivery systems, pulmonary drug delivery systems, transdermal drug delivery systems, and others. The oral drug delivery systems segment is anticipated to account for a significant market share and is anticipated to grow at a rapid pace during the forecast period.
Increasing incidence of chronic diseases, reformulation and repositioning of drugs using advanced oral delivery systems, and huge investments made by major pharmaceutical companies for the development of oral drug delivery technologies are expected to propel the segment growth.
Targeted drug delivery systems segment to account a major market share
On the basis of mode of NDDS, the market is segmented into targeted drug delivery systems, controlled drug delivery systems, modulated drug delivery systems. The targeted drug delivery systems segment is anticipated to account for a major market share in the projected timeline.
Targeted drug delivery (TDD) is emerging as a powerful tool for the treatment of cancer owing to enhanced delivery of drugs, as well as genes, to a tumor site with protection from the extracellular environment.
The US to account a considerable market share
In terms of geography, the market is segregated into US, Canada, and Mexico. The US to account for a considerable market share owing to rising geriatric population and increasing healthcare expenditure. Moreover, growing adopting a sedentary lifestyle has led to incidence of diseases that require novel systems, as conventional drug delivery system cannot address the newer conditions and problems.
Segments
The North America novel drug delivery systems have been segmented on the basis of
Route of administration
- Oral Drug Delivery Systems
- Injectable Drug Delivery Systems
- Pulmonary Drug Delivery Systems
- Transdermal Drug Delivery Systems
- Others
Mode of NDDS
- Targeted Drug Delivery Systems
- Controlled Drug Delivery Systems
- Modulated Drug Delivery Systems
Geography
- United States
- Canada
- Mexico
Key Players
- Abbott Laboratories
- Roche Holding AG
- Merck & Co.
- GlaxoSmithKline PLC
- Bayer AG
- AstraZeneca PLC
- F. Hoffmann-La Roche AG
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Sanofi SA.
Competitive Landscape
The major players of the market are Abbott Laboratories, AstraZeneca PLC, Bayer AG, F. Hoffmann-La Roche AG, Roche Holding AG, Merck & Co., GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Sanofi SA. Companies are investing in research and development and focusing on development of innovative treatment options to expand their market share.
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