Novel Drug Delivery Systems Market Share

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.