Market Trends of Novel Drug Delivery Systems (NDDS) Industry
Oral Drug Delivery Systems Segment is Expected to Occupy a Significant Share Over the Forecast Period
Oral medication administration methods are common due to their distinct features, such as continuous and controllable distribution, the convenience of administration, feasibility for solid formulations, patient compliance, cost-effectiveness, etc. The oral pathway received the most attention among the several drug delivery methods. With successful local and systemic effects, they are the most reliable routes for medication delivery and the ones that both doctors and patients prefer to use. Hence, the segment is growing and is expected to fuel the segment's growth.
Factors such as increasing research studies, clinical trials, and product launches by key market players will likely increase the segment's growth. For instance, as per the article by AstraZeneca in April 2023, most patients choose to use an oral formulation rather than an injection. Due to improvements in medication design and delivery methods, oral biologics are now becoming a reality. As per the above source, AstraZeneca has ongoing collaborations with the University of Uppsala through the SweDeliver Forum to understand better how Transient permeation enhancers (TPEs) can safely promote oral absorption of macromolecules as well as how to select the best TPEs for a particular macromolecule rationally. In addition, the company recently reported the potential of several approaches to enable the oral delivery of both peptides and antisense oligonucleotides. Thus, such activity and research in the segment are anticipated to drive the market's growth over the forecast period.
Moreover, product launches are another factor in market growth. For instance, in May 2022, Sun Pharma reported plans to launch an oral medication to reduce low-density lipoprotein (LDL) cholesterol. One of the company's wholly-owned subsidiaries planned to launch a first-in-class oral drug, Bempedoic Acid, in India for lowering LDL cholesterol. Thus, the oral drug delivery systems segment is expected to grow significantly over the forecast period due to the abovementioned factors.
North America is Expected to Account for Largest Market Share in the Novel Drug Delivery Systems Market
North America is expected to dominate the novel drug delivery systems market. North America is leading the market due to a rise in research activities about new therapies, an increased budget for novel drug discovery, and growing awareness about novel drug delivery systems.
Chronic diseases and conditions are on the rise in this region. For instance, according to the estimates of the Global Cancer Observatory report published in March 2021, there will be 2.3 million new cancer cases by 2045, and the most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer. Hence, the rising burden of cancer and other chronic diseases due to environmental and lifestyle changes is anticipated to create demand for innovative drug delivery options for the safe delivery of biologics and drive the market's growth over the forecast period.
In addition, several companies are focusing on the innovations of novel drug delivery systems, market expansion, and new product launches, which are expected to fuel market growth in the country. For instance, in May 2022, Jabil Healthcare launched the Qfinity autoinjector platform, a simple, reusable, and modular solution for subcutaneous (SC) drug self-administration at a lower cost than market alternatives that support the emerging prioritization of sustainable drug delivery within the pharmaceutical industry. Additionally, in October 2022, NuGen Medical Devices Inc., a market player in needle-free drug delivery, officially launched its InsuJet devices in Canada at the 2022 Diabetes Canada/Canadian Society of Endocrinology and Metabolism (CSEM) Professional Conference. Hence, such product launches are expected to increase regional market growth. Thus, the rising patient pool of chronic disorders and the development and launch of technologically advanced drug delivery systems are expected to drive North America's novel drug delivery systems market during the forecast period.
