Novel Drug Delivery Systems Market size was valued at USD 65.44 billion in 2023 and is anticipated to reach USD 182.3 billion by 2036, registering around 8.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of novel drug delivery systems is assessed at USD 69.73 billion. Novel drug delivery systems are used to facilitate targeted drug delivery, which couldn’t be achieved through regular drug administrations. The growth of the novel drug delivery systems market can be attributed to the growing prevalence of chronic diseases, including cancer, diabetes mellitus, coronary obstructive pulmonary diseases, ischemic heart diseases, and mental disorders. According to the data by the World Health Organization (WHO), in 2019, an estimated 1.5 million deaths were directly caused by diabetes, 17.9 million people died from cardiovascular diseases, and 3.23 million deaths were caused by chronic obstructive pulmonary disease (COPD) worldwide. Moreover, 10 million deaths were caused by cancer, in 2020. Novel drug delivery system can deliver drugs in a more controlled manner, which is estimated to boost the market growth. Moreover, various technological advancements in the medical sector, have improved the scope of specific tissue treatment. Such factors are estimated to strengthen the market growth. Additionally, the growing investment for development of new drugs and treatment methods, accompanied with the expiration of existing international patents, are anticipated to boost the market growth. Furthermore, the increasing healthcare expenditure across the globe, is estimated to boost the novel drug delivery systems market growth. According to the data by the World Bank, USD 1,111.082 was spent per capita for healthcare globally, in 2018, which has increased significantly from USD 999.104 in 2015.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
8.2% |
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Base Year Market Size (2023) |
USD 65.44 billion |
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Forecast Year Market Size (2036) |
USD 182.3 billion |
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Regional Scope |
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The market is branched by delivery type into oral drug delivery, injectable drug delivery, pulmonary, transdermal drug delivery, implantable drug delivery, and others. Out of these, the implantable drug delivery segment is anticipated to hold a substantial revenue share in the global novel drug delivery systems market over the forecast period on account of increasing application of these implants for the treatment of various complex issues, such as, cancer treatment, contraception, hormone regulation, and others. Moreover, implantable drug delivery system provide higher accuracy and success rate for treating cancer.
Our in-depth analysis of the global market includes the following segments:
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By Delivery Type |
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By End-User |
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On the basis of geographical analysis, the global novel drug delivery systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing awareness regarding healthcare amongst people, along with improving healthcare facilities in the region. Moreover, the growing healthcare expenditure in the APAC region, is estimated to play a major role in the regional market growth. According to the World Bank data, the GDP per capita of population in the South Asia region surged from USD 453.238 in 2000 to USD 1,959.342 in 2019.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of the increasing healthcare research expenditure, and adoption of advanced technology in the region. Moreover, high prevalence of cancer in the region, is estimated to positively impact the novel drug delivery systems market growth. According to the National Cancer Institute, an estimated 1,806,590 new cases of cancer were diagnosed in the United States in 2020.
Author Credits: Radhika Pawar
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