The global novel drug delivery systems (NDDS) in cancer therapy market
is expected to reach USD 26.61 billion by 2025, according to a new report by
Grand View Research, Inc. The market is primarily driven by a global rise in
the incidence of cancer, increase in research activities for developing novel
drug delivery technologies, and availability of research funding for ongoing
projects.
Many key players in this market are investing in
R&D of a novel and advanced products. This can also be attributed to
increases in patent expirations. For instance, the R&D expenditure of
Celgene Corporation increased from USD 3,697.3 million in 2015 to USD 4,470.1
million in 2016. Increase in R&D spending was directed toward enhancing
product pipeline and for regulatory approvals of new products.
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In addition, a rise in healthcare expenditure for
diagnosis and treatment of cancer and awareness about alternative therapies are
expected to boost market growth. Improvement in healthcare infrastructure in
developing nations and increase in awareness about new treatment methods for
cancer are also anticipated to propel the market during the forecast period.
North America held the largest market share in
2016. Local presence of a large number of manufacturers, ongoing regulatory
approvals for new drugs, and availability of research funding for new methods
of treatment for this disorder are key factors that can be attributed to this
region’s dominance in the global market. However, Asia Pacific is expected to
grow at the highest rate during the forecast period. This can be attributed to
rising in initiatives that boost cancer research projects, increase in
healthcare expenditure for cancer therapy, improvement in healthcare
infrastructure, large geriatric population base, and rise in awareness owing to
medical conferences and meetings in the region.
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Further
Key Findings From the Report Suggest:
- The
nanoparticles segment held the largest revenue share in 2016 due to
increase in funding for research using these particles
- The
embolization particles segment is expected to grow at the highest rate
during the forecast period owing to higher precision rate and accurate
drug delivery
- North
America dominated the global market due to presence of a large number of
cancer patients and favorable reimbursement scenario
- Some
of the key players are Celgene Corporation; Teva Pharmaceutical
Industries, Ltd.; GALEN; Shire; Johnson & Johnson Services, Inc.; and
Spectrum Pharmaceuticals, Inc.
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Grand
View Research, Inc. has segmented the novel drug delivery systems (NDDS) in
cancer therapy market on the basis of product and region:
Product
Outlook (Revenue, USD Million, 2014 - 2025)
- Nanoparticles
- Liposomes
- Polymers
- Micelles
- Other nanoparticles
- Embolization particles
- PVA particles
- Drug-eluting beads
- Liquid emboli
- Other embolization particles
Regional
Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
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About Grand
View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials, and healthcare.
For more
information: www.grandviewresearch.com
