A novel drug delivery system (NDDS) refers to the technologies, formulations, approaches, and systems used to transport a pharmaceutical compound in the body to safely achieve its desired therapeutic effects. In short, it is used to deliver drugs other than the traditional drug delivery system. Moreover, slow processing and side effects of conventional drug delivery systems are contributing to the emergence of novel drug delivery system concepts. Conventional systems have many limitations such as poor water solubility, low therapeutic indices, limited targeting, and the induction of drug resistance. This in turn is expected to augment the growth of the novel drug delivery system (NDDS) market.
A novel drug delivery system increases the availability of drugs, helps reduce drug degradation, and prevents harmful side effects of drugs. The novel system offers various therapeutic and commercial advantages by enabling the design of new drug delivery devices so that it can incorporate drug molecules into new delivery systems. The growth of the novel drug delivery system (NDDS) market is also driven by the increasing prevalence of chronic diseases, such as cancer. According to the National Cancer Institute, in 2020, around 1,806,590 new cases of cancer were expected to be diagnosed in the United States and 606,520 people were expected to die from the disease.
Over the past few years, the use of novel drug delivery systems has increased in cancer therapy. The effectiveness of novel drug delivery systems in cancer therapy is also a major factor driving the growth of the market. Moreover, the Food and Drug Administration (FDA) has approved many new products with novel delivery methods. This in turn is also expected to propel the growth of the novel drug delivery system (NDDS) market. The drug discovery and development process are nowadays conducted in a relatively standardized sequence of phases, starting with discovery and being followed by preclinical, clinical, and non-clinical development.
Geographically, the novel drug delivery system (NDDS) market is witnessing robust growth in North America and the Asia Pacific, owing to the factors such as supportive reimbursement policies, the high adoption rate of new technology, and growing research and development in the field of drug delivery systems. For example, in June 2020, the PE firm has invested 70 crores each in ophthalmology hospital chain Sharp Sight and Pune-based Murli Krishna Pharma Pvt. Ltd, a formulations maker that focuses on developing novel drug delivery system products. Murli Krishna Pharma's customers include branded generic companies across Latin America, Africa, the Middle East, and South and Southeast Asia.