The novel drug delivery system (NDDS) market is expected to grow at a significant CAGR over the forecast period owing to the factors such as increasing incidences of various types of cancer such as carcinoma and sarcoma and ability to overcome the side effects of chemotherapy. Additionally, increasing prevalence of lifestyle induced diseases such as obesity and diabetes, growing demand for improving the patient management with HIV/AIDS by ARV drug therapy and increasing therapeutic indications of existing NDDS are few factors which are attributing the market growth. Moreover, introduction technologically advanced drug delivery systems such as nanotechnology in drug delivery systems and prodrugs for targeted drug delivery and growing awareness regarding clinical benefits of embrolic agents and nanoparticles over conventional drug delivery system are some factors which are expected to positively reinforce the market growth. However, the factors which are anticipated to impede the market growth include the high treatment cost and authoritarian treatment pathway.
On the basis of technology the NDDS in cancer therapy market is segmented into liquid embolic, embolization particles and nanoparticles. Further, key types of embolization particles analyzed in the study include microspheres, drug eluting beds (DEB), PVA particles and radioembolization microspheres/ selective internal radiation therapy (SIRT). Moreover, the liquid embolic is further classified into TRUFILL nBCA and Onyx (LES & HD-500). Furthermore, many nanoparticles that have been approved as drug delivery systems for cancer therapy include Megace ES (megestrol acetate), Myocet (doxorubicin), Doxil (doxorubicin), Abraxane (paclitaxel), DepoCyt (liposomal cytarabine) and DaunoXome (daunorubicin citrate). Wherein, in 2014, nanoparticles segment of the NDDS in cancer therapy market is expected to have the largest share in terms of revenue. The clinical benefits associated with nanoparticles over traditional drug delivery system include protecting the drug from being degraded in the body before reaching the target area, it is easy to assess by oncologist how well they work and prevent drug interaction with normal cell thereby avoiding side effects are factors attributing for its large share.
North America, Europe, Asia Pacific, MEA and Latin America are amongst key regional markets included in the study. In 2014, North America was anticipated to be the largest regional market for NDDS in cancer therapy followed by Europe. Factors responsible for its large share include growing prevalence of cancer, increasing awareness in nanoparticles, drug delivery systems and rising government initiation by implementation of “Affordable Care Act” & “Balanced Budget Act”. However, Asia Pacific is expected to witness substantial growth over the forecast period, especially, Japan, China, India, Australia and New Zealand owing to growing market penetration of NDDs in emerging economies and improving reimbursement policies.
The key players operating in NDDS in cancer therapy market are Boston Scientific Corporation, Advanced Medical Isotope Corporation, CeloNova BioSciences Inc., BTG plc, Bind Therapeutics, Covidien plc, Cook Medical Inc., Cospheric LLC, Eckert & Ziegler BEBIG, Merit Medical Systems Inc., EmboMedics Inc., Kobo Products Inc., Mo-Sci Corporation, Nanobiotix, Sirtex Medical Limited and Polysciences Inc.
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