Novel Drug Delivery Systems Market Size is anticipated to expand at a notable rate over the forecast period of 2022-2028. Since novel drug delivery systems offer targeted or controlled release of drugs that can help patients combat deadly diseases, their demand is expected to rise significantly. Breaking away from the traditional forms of drug administration, several medical research organizations are introducing innovative technologies and procedures in this regard.
These endeavors aim to ensure that in the future, drugs can be released into a specific tissue or organ and help minimize the extreme effects of drug injection, which will help augment the adoption of novel drug delivery systems.
The global novel drug delivery systems market is replete with several technological innovations targeted to enhance the efficacy and performance of drug delivery procedures. In addition, pharma firms have been actively setting up new units for R&D activities pertaining to drug delivery. For example, recently in July 2021, pharma excipient provider Roquette invested USD 25 million in a brand-new innovation center in the U.S., to advance drug delivery systems research for oral prescription drugs.
Based on the route of administration, oral drug delivery systems will gain traction among end-users as they has a wide range of advantages, such as safety in administering medicines, cost-effectiveness, high convenience for patients, non-invasiveness, and freedom to self-administer. Since an increasing number of patients are opting for minimally invasive routes of drug administration, the oral route will be widely preferred.
Controlled drug delivery system is projected to hold a significant share in the coming years as it has played a key role in revolutionizing the traditional drug delivery mechanism. In a conventional drug delivery process, the pharmacokinetics or movement of drugs through the body can vary due to the variations in administering doses.
However, that will not be the case in controlled drug delivery system as it releases the medicine at a consistent rate for a certain period of time, thereby eliminating variations in pharmacokinetics. The drug also stays in the bloodstream for a longer period and the process improves patient compliance, which will favor the use of controlled drug delivery system.
Asia Pacific novel drug delivery system market share will grow at a considerable rate through 2028 as several countries are introducing newer technologies and procedures to administer drugs in a minimally invasive way without incurring side-effects. As the region is rapidly becoming a hub of advanced healthcare facilities due to increased public and private investments, the demand for novel drug delivery systems is predicted to showcase robust growth in APAC.
For example, in February 2020, research scholars in India developed a new drug delivery system that could amplify the medicinal effects of two drugs, vardenafil hydrochloride and iloperidone. Vardenafil hydrochloride is widely used to treat erectile dysfunction while iloperidone is used to combat schizophrenia. The researchers are working on enhancing the bioavailability of these drugs.
The major companies that are involved in the development of novel drug delivery systems across the world include, Johnson & Johnson, GlaxoSmithKline, F. Hoffman La Roche, Bayer, Abbott Laboratories, AstraZeneca, Novartis, Sanofi, Pfizer, and Merck & Co. Inc., among others. These organizations are consistently entering into mergers, acquisitions, and partnerships with other firms to enhance their competitive advantage, diversify their product portfolios, and expand their customer base.
For example, in August 2021, Sanofi entered into an acquisition agreement with Translate Bio to accelerate the development of advanced mRNA technologies that can help produce innovative vaccines and therapeutics. The total equity value of the agreement was estimated to be around $3.2 billion.
The COVID-19 pandemic had a positive impact on the development of the market as it gave many pharmaceutical companies a robust opportunity to produce effective medicines and vaccines to contain the virus. The scenario also offered them a chance to experiment with new drug delivery systems to ease the process of drug administration and provide quicker results.
Market, by Route of Administration
Market, by Mode of NDDS
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