The persistent rise in the incidence of different types of cancer is the primary factor driving the global Novel Drug Delivery System (NDDS) In Cancer Therapy Market, says Transparency Market Research in its latest report. The report, titled “Novel Drug Delivery Systems (NDDS) in Cancer Therapy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, states that expanding at a remarkable 23.70% CAGR from 2014 to 2020, the global market is anticipated to rise from a value of US$3.6 bn in 2013 to US$15.9 bn in 2020.
The NDDS in cancer therapy market is categorized on the basis of technology into liquid embolics, nanoparticles, and embolization particles. Valued at US$3.3 bn in 2013, nanoparticles emerged as the leading technology segment in terms of revenue. This segment is projected to expand at an astounding 24.70% CAGR from 2014 to 2020, presenting the most promising opportunities for players within the NDDS in cancer therapy market. The segment of liquid embolics is forecast to expand at a 4.90% CAGR by 2020.
On the basis of geography, the global NDDS in cancer therapy market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Accounting for a share of 46.60% in the overall market in 2013, North America has emerged as the leading regional segment. Expanding at an impressive 24.90% CAGR from 2014 to 2020, North America is anticipated to hold 49.70% of the global NDDS in cancer therapy market by the end of the forecast period. The NDDS in cancer therapy market in this region is fueled by favorable reimbursement scenario, rising number of people suffering from various types of cancer, and technologically advanced healthcare infrastructure.
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Accounting for 29.20% of the global NDDS in cancer therapy market, Europe became the second largest regional segment in 2013, propelled by technological advances, strong pipeline, and development of innovative products. The Asia Pacific market for NDDS is anticipated to exhibit a 22.60% CAGR during the forecast period owing to rapid growth in emerging economies such as Japan, New Zealand, China, India, and Australia. The NDDS in cancer therapy market in this region is also fueled by increasing market penetration by major players and improvement in reimbursement scenario.