Frequently Asked Questions:
The global novel drug delivery systems market was valued at USD 12.1 Billion in 2022.
The novel drug delivery systems market is expected to grow at a CAGR of 22.10% between 2023 and 2030, reaching USD 49.0 Billion in 2030.
Oral drug delivery systems are the leading segment by route of administration, holding over 43% share in terms of value in 2022.
The controlled drug delivery systems segment governs the demand for novel drug delivery systems in the world, holding a massive share of over 80% in 2022.
The targeted drug delivery systems segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the novel drug delivery systems industry, with over one-third share in 2022.
The top players include Abbott Laboratories, Amgen Inc, AstraZeneca PLC, Bayer AG, Boston Scientific Corporation, Bristol-Myers Squibb, Celgene Corporation, F. Hoffmann-La Roche AG, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Pfizer Inc., Spectrum Pharmaceuticals, Inc.
Globally increased COVID-19 vaccination rates, new product introductions, an increase in the frequency of chronic diseases, and the emergence of newer technologies are the major market drivers.
The growing use of generic medications is the major market restraint.
Strategic cooperation and introducing new products are the major opportunities in the novel drug delivery systems industry.