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novel drug delivery systems in cancer therapy market size was USD 12.5 Billion in 2022 and is expected to reach USD 20 Billion in 2032, and CAGR of 5.4%

NEW YORK, NY, UNITED STATES, May 3, 2023 /EINPresswire.com/ -- The Global Novel Drug Delivery Systems In Cancer Therapy Market is experiencing significant growth, with a market size of USD 12.5 billion in 2022, projected to reach USD 20 billion by 2032, with a revenue CAGR of 5.4% during the forecast period. The increasing incidence of cancer worldwide, advancements in drug delivery technology, and the need for more efficient cancer therapies are the main drivers of market revenue growth.

The use of nanotechnology is one of the primary factors driving market growth. Nanoparticles are being used to target cancer cells specifically and deliver medication directly to the tumor site, improving the effectiveness of the treatment while reducing side effects. Nanoparticles can also improve drug solubility and stability, increasing their efficacy, and deliver medications to the brain, bypassing the blood-brain barrier for brain cancer treatment.

The market is expanding due to the increasing use of immunotherapy for cancer treatment. Immunotherapy drugs activate the body's defenses to attack cancer cells, but their effectiveness is limited in some people, and they can have serious side effects. New drug delivery systems can help overcome these limitations by specifically targeting immune cells, resulting in increased medication efficacy and decreased toxicity.

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The demand for tailored therapeutics is also driving market revenue growth. Targeted therapy drugs are designed to target molecules involved in cancer growth and progression. New drug delivery systems can improve the effectiveness of targeted therapies by delivering medication directly to the tumor location, improving patient outcomes. Additionally, increased investments in research and development, availability of government financing for cancer research, and rising cancer incidence rates in developing countries are driving market growth.

The market faces several challenges, including high medication development costs, legislative barriers, and a shortage of qualified personnel. However, with the increasing demand for more efficient cancer treatments and the advancement of drug delivery technologies, the novel drug delivery systems in cancer therapy market revenue growth is expected to continue to expand over the forecast period.

Segments Covered in the Report

Drug delivery systems play a crucial role in cancer therapy, and the global market is expected to witness significant growth in the coming years. The market is categorized based on technology outlook, including nanoparticles, liposomes, microspheres, and others. Nanoparticles are one of the major contributors to the growth of the market due to their ability to deliver drugs directly to cancer cells. This technology employs small particles that can penetrate the tumor cells and deliver the medication right to the tumor site, increasing the drug's effectiveness and reducing harmful side effects.

Liposomes are also expected to witness significant growth in the market. These are small vesicles made up of lipids that can encapsulate the drug and deliver it to the targeted cells. This technology provides a targeted and sustained release of the drug, reducing the frequency of dosing and improving patient compliance.

Microspheres are another technology that is expected to contribute to the market growth. These are small, spherical particles that can be loaded with drugs and injected directly into the cancerous tissue. They provide a controlled release of the drug, reducing the frequency of dosing and improving the drug's effectiveness.

The market is also categorized based on application outlook, including breast cancer, lung cancer, colorectal cancer, and others. Breast cancer is one of the major applications of drug delivery systems, owing to the high incidence rate of breast cancer worldwide. Lung cancer is also expected to witness significant growth due to the high mortality rate associated with this type of cancer. Colorectal cancer is another significant application of drug delivery systems due to the increasing incidence rate of this cancer type globally.

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In conclusion, the global market for novel drug delivery systems in cancer therapy is expected to witness significant growth in the coming years. The market is categorized based on technology and application outlook, with nanoparticles, liposomes, and microspheres being the major contributors to the growth of the market. Breast cancer, lung cancer, and colorectal cancer are some of the significant applications of drug delivery systems in cancer therapy.

Strategic development:

• Several major pharmaceutical companies have recently made significant developments in the field of drug delivery systems for cancer therapy. On December 21, 2021, Roche announced that its drug delivery system, Herceptin, received approval from the European Commission for the treatment of HER2-positive early breast cancer. Similarly, on November 1, 2021, Novartis announced that its drug delivery system, Kymriah, received approval from the European Commission for the treatment of certain types of blood cancers.
• In 2020, Pfizer announced a major investment of $500 million in the development of novel drug delivery systems for cancer therapy. The company is collaborating with academic institutions and research organizations to create innovative technologies that enhance drug efficacy and reduce toxicity.
• In the same year, Roche launched a new monoclonal antibody, Perjeta, which has shown improved efficacy and fewer side effects compared to conventional chemotherapy in the treatment of HER2-positive breast cancer. Novartis also launched a new CAR-T cell therapy, Tecartus, that uses genetically modified T cells to target cancer cells and has shown promising results in the treatment of certain types of blood cancers.
• Another significant development in the field of drug delivery systems for cancer therapy is the launch of a new liposome-based drug delivery system called Doxil by Johnson & Johnson in 2021. This system enables targeted drug delivery to cancer cells and has shown improved efficacy and fewer side effects compared to conventional chemotherapy.
• These recent developments are an indication of the increasing importance of drug delivery systems in cancer therapy and demonstrate the commitment of major pharmaceutical companies to finding more effective and efficient cancer treatments.

Competitive Landscape:

The global market for novel drug delivery systems in cancer therapy is highly competitive, with many large and medium-sized players vying for a share of the market. Some of the major companies operating in this space include Johnson & Johnson, Roche, Novartis, Pfizer, and AstraZeneca.

Johnson & Johnson is a well-known global healthcare company that produces a range of medical devices, pharmaceuticals, and consumer healthcare products. The company's subsidiary Janssen Pharmaceuticals focuses on the development of innovative therapeutics for various diseases, including cancer.

Roche is a Swiss multinational healthcare company that develops and produces pharmaceuticals and diagnostic products. The company has a strong presence in the cancer therapy market, with several of its drugs approved for the treatment of various cancers.

Novartis is a multinational pharmaceutical company headquartered in Switzerland. The company's oncology division focuses on the development of innovative cancer treatments, including drug delivery systems.

Pfizer is a global pharmaceutical company that develops and produces a range of therapeutics for various diseases, including cancer. The company has recently made a significant investment in the development of novel drug delivery systems for cancer therapy.

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AstraZeneca is a multinational pharmaceutical company that develops and produces a range of therapeutics for various diseases, including cancer. The company's oncology division focuses on the development of innovative cancer treatments, including drug delivery systems.

These companies invest heavily in research and development to create innovative drug delivery technologies that improve the efficacy of cancer therapies while reducing their side effects. As the demand for efficient cancer treatments increases, the competition in this market is expected to intensify further in the coming years.

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