A new report on the global NDDS in cancer therapy market has been published by Transparency Market Research. The research, titled ‘Novel Drug Delivery Systems (NDDS) in Cancer Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,’ studies the regional markets, key growth drivers, technology segmentation, current trends, and competitive landscape. The analysts predict that the global market will progress from US$3.6 bn in 2013 to US$15.9 bn by 2020.
Novel drug delivery systems (NDDS) in cancer therapy comprises technologies such as liquid embolics, nanoparticles, and embolization devices that offer unique ways to cure cancer. In recent years, there has been increasing incidence of various types of cancer across the globe. Technological advances have led to the growth of new therapies. There have also been many developments in drug delivery systems due to the increasing government funding. All these factors have led to the growth of the global novel drug delivery systems (NDDS) in cancer therapy market.
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According to the publication, the global NDDS in cancer therapy market is expected to exhibit a whopping 23.70% CAGR from 2014 to 2020. However, strict government regulations and the high cost of new products can hamper the growth of the global market.
The report’s authors have segmented the global NDDS in cancer therapy market on the basis of technology and region. Based on technology, the global NDDS in cancer therapy market is classified into embolization particles, liquid embolics, and nanoparticles. In 2013, the nanoparticles drug delivery systems segment stood at US$3,307.7 mn and is projected to exhibit a 24.70% CAGR from 2014 to 2020. Nanoparticles such as Megace ES (megestrol acetate) Abraxane (paclitaxel) DepoCyt (liposomal cytarabine), DaunoXome (daunorubicin citrate), Myocet (doxorubicin), and Doxil (doxorubicin) are approved as novel drug delivery systems in cancer therapy. The liquid embolics segment is predicted to record a steady 4.90% CAGR from 2014 to 2020.
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Based on region, the global NDDS in cancer therapy market is divided into Europe, Asia Pacific, North America, and Rest of the World. In 2013, North America accounted for a massive 46.6% of the global NDDS in cancer therapy market. The increasing number of cancer patients, advanced healthcare infrastructure, and favorable reimbursement policies are the factors that can be held responsible for the growth of the North America NDDS in cancer therapy market. In 2013, Europe held a share of 29.2% in the global NDDS in cancer therapy market. Technical advancements in the development of innovative products and the increasing number of pipeline products are projected to benefit the Europe NDDS in cancer therapy market. The Asia Pacific NDDS in cancer therapy market is projected to expand at a 22.60% CAGR from 2014 to 2020, propelled by the development of economies such as India, China, Japan, and Australia.
Advanced Medical Isotope Corporation, Eckert & Ziegler BEBIG, Bind Therapeutics, Polysciences, Inc., Nanobiotix, CeloNova BioSciences, Inc., Covidien, plc, EmboMedics, Inc., Cook Medical, Inc., and Mo-Sci Corporation are some of the prominent companies operating in the global NDDS in cancer therapy market.