Home > Healthcare > Novel Drug Delivery Systems Market
Novel Drug Delivery Systems Market Size
Novel Drug Delivery Systems Market Size is anticipated to witness considerable expansion from 2024 to 2032, mainly propelled by the rising advancements in nanomedicine for more efficient and personalized drug delivery. For instance, in September 2023, Evonik introduced three standard PLA-PEG di-block copolymers along with a new nanoparticle formulation service deployed with sonication technology, to enhance its nanoparticle portfolio for parenteral drug delivery.
The influx of several new oral drug delivery technologies is leading to the development of oral films, microneedle patches, and other innovative approaches for improving drug absorption, bioavailability, and patient compliance. The emerging trend of personalized medicine leading to the development of tailor-made drug delivery systems to cater to individual patient characteristics will also drive the product demand. However, the complex and time-consuming regulatory approval processes for novel drug delivery systems along with the higher costs incurred in research, development, and testing may limit the industry expansion to some extent.
Novel Drug Delivery Systems Market Trends
The growing focus of pharma firms on actively setting up new units for R&D activities pertaining to drug delivery will prove favorable for the uptake of novel drug delivery systems. To cite an instance, in March 2023, Evonik established a new facility for pharmaceutical lipids at its site in Hanau, Germany. The growing introduction of smart implants, wearables, and devices for real-time monitoring and controlled release of drugs based on physiological parameters will also contribute to the market development.
Novel Drug Delivery Systems Market Analysis
Based on the route of administration, the industry share from the oral drug delivery systems segment will gain momentum between 2024 and 2032. The growth can be attributed to the increasing number of patients opting for minimally invasive routes of drug administration. Oral drug delivery techniques are increasingly preferred by doctors and patients for use due to their significant local and systemic effects. Benefits, such as safety in administering medicines, continuous and controlled distribution, high convenience for patients, non-invasiveness, and feasibility for solid formulations will also provide impetus to the product uptake.
With respect to mode, the demand for controlled novel drug delivery systems is projected to grow at a notable pace through 2032. This is due to their rising assistance in minimizing the side effects associated with rapid and fluctuating drug concentrations in the bloodstream. Controlled drug delivery offers better control over drug absorption, distribution, metabolism, and excretion, leading to more predictable and consistent pharmacological impacts. Robust role in revolutionizing the traditional drug delivery mechanism will also shape the segment progression.
North America novel drug delivery systems market will demonstrate significant rate through 2032, led by the strong emphasis on precision medicine in the region. The growing awareness of adverse impacts of pharmaceuticals is driving the development of eco-friendly and sustainable drug delivery systems to minimize waste and environmental harm. The surging number of chronic diseases is favoring the rise in research activities about new therapies, further increasing the budget for novel drug discovery.
For instance, in July 2023, American multinational technology firm Nvidia Corporation invested $50M in tech-focused Recursion Pharmaceuticals for creating AI-assisted drug discovery models. The growing regulatory support for innovations and development of new technologies in the pharmaceutical sector will also shape the regional industry gains.
Novel Drug Delivery Systems Market Share
Some of the leading novel drug delivery system providers are:
- Johnson & Johnson
- GlaxoSmithKline
- F. Hoffman La Roche
- Bayer
- Abbott Laboratories
- AstraZeneca
- Novartis
- Sanofi
- Pfizer
- Merck & Co. Inc.
Major companies in the novel drug delivery systems industry are consistently indulging in mergers, acquisitions, and partnerships with other firms for enhancing their competitive advantages, diversifying their product portfolios, and expanding their customer base. Pfizer, an innovator in medicine delivery, has been entering licensing agreements to accelerate its drug delivery technologies.
Novel Drug Delivery Systems Industry News
- In January 2023, Bayer AG partnered with Google Cloud to drive early drug discovery by deploying the latter’s tensor processing units (TPUs) to help accelerate and scale its quantum chemistry calculations.
- In November 2023, Pfizer and Serina Therapeutics inked a license agreement to drive the former’s drug delivery technology for small molecules.