European novel drug delivery system market primarily driven by technological advancements promoting the development of NDDS and the rising need for controlled release of drugs.
Nowadays, for the treatment of chronic disorders as well as for controlling the release of active ingredients from drug products, a unique delivery system, the controlled release drug delivery system (CRDDS) of novel drug delivery, is included in the drug delivery technique. Majority of the active pharmaceutical ingredients are distributed in the form of CRDDS. A controlled drug delivery system is, thus, a very reliable, potential form of novel drug delivery technique, in which the drug is subjected to the appropriate pharmaceutical drug dosage form and its release is predetermined, making the release controlled at particular sites of action (cells, tissues, and organs).
Transdermal patches, implants, nasal systems, microcapsules, etc., are some of the common systems that are considered under controlled release systems. The need for controlled release of drugs is propelling the increasing demand for unique and innovative systems for drug delivery, where this novel drug delivery system plays a significant role in the advancement of controlled release of drugs, thereby driving the growth of the market, over the forecast period.
Key Market Trends
Targeted Drug Delivery Systems Segment under Mode of NDDS is Expected to hold the Largest Market Share during the Forecast Period
In the targeted drug delivery system, the drug, which is released at the site of action, then gets attached to the diseased tissue. One of the prime benefits of this mode of drug delivery is controlled and protected action, as the slow, prolonged action of the drug on the diseased tissue for an adequate period of treatment time is expected to provide potential benefits. Targeted drug delivery can be used to treat many diseases, such as the cardiovascular diseases and diabetes. However, the most important application of targeted drug delivery is to treat cancerous tumors. Moreover, Cancer Research UK 2018 report suggests that the population suffering from cancer is expected to increase in the future. As per the report, if recent trends in incidence of major cancers and population growth are consistent, it is predicted there will be 27.5 million new cancer cases worldwide each year by 2040, as compared to 17 million in 2018. In European regions like the UK also expect an increase in incident cases of cancer, as per Cancer Research UK's 2019 report.
These benefits of targeted drug delivery, coupled with the increasing need for technological advancements and a rising need for higher efficacy, owing to the increasing burden of chronic diseases, are propelling the growth of the segment.
The market comprises major market players who are primarily focused on research and development for the creation of a stable and safe formulation. The market has been experiencing technological developments on a large scale for the past couple of years. Some of the market players are Abbott Laboratories, AstraZeneca PLC, Bayer AG, GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., F. Hoffmann-La Roche AG, and Sanofi SA.
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