Novel Drug Delivery Systems In Cancer Therapy Market To Reach $27.36 Billion By 2030

Novel Drug Delivery Systems In Cancer Therapy Market Growth & Trends

The global novel drug delivery systems in cancer therapy market size is expected to reach USD 27.36 billion by 2030, registering a CAGR of 7.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by global rise in incidence of cancer, increase in research activities for developing novel drug delivery technologies, and availability of research funding for ongoing projects. 

Many key players in this market are investing in R&D of novel and advanced products. This can also be attributed to increase in patent expirations. For instance, the R&D expenditure of Celgene Corporation increased from USD 3,697.3 million in 2015 to USD 4,470.1 million in 2016. Increase in R&D spending was directed toward enhancing product pipeline and for regulatory approvals of new products.

In addition, rise in healthcare expenditure for diagnosis and treatment of cancer and awareness about alternative therapies are expected to boost market growth. Improvement in healthcare infrastructure in developing nations and increase in awareness about new treatment methods for cancer are also anticipated to propel the market during the forecast period. 

North America held the largest market share in 2016. Local presence of a large number of manufacturers, ongoing regulatory approvals for new drugs, and availability of research funding for new methods of treatment for this disorder are key factors that can be attributed to this region’s dominance in the global market. However, Asia Pacific is expected to grow at the highest rate during the forecast period. This can be attributed to rise in initiatives that boost cancer research projects, increase in healthcare expenditure for cancer therapy, improvement in healthcare infrastructure, large geriatric population base, and rise in awareness owing to medical conferences and meetings in the region.

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Novel Drug Delivery Systems In Cancer Therapy Market Report Highlights

• Nanoparticles accounted for the largest market revenue share of 86.4% in 2023, driven by their ability to enhance drug efficacy and minimize side effects.

• Embolization particles projected to grow at the fastest CAGR of 10.7% over the forecast period. The growth of the embolization particles segment is driven by the increasing incidence of liver and renal cancers, necessitating effective treatment options.

• North America novel drug delivery systems in cancer therapy market dominated the global novel drug delivery systems in cancer therapy market in 2023 with 43.4% of the total revenue share.

• Asia Pacific novel drug delivery systems in cancer therapy market is anticipated to witness the fastest growth of 9.4% over the forecast period, owing to increasing number of patients with chronic illnesses is expected to drive market expansion.

Novel Drug Delivery Systems In Cancer Therapy Market Segmentation

Grand View Research has segmented global novel drug delivery systems in cancer therapy market report based on product, and region:

Novel Drug Delivery Systems In Cancer Therapy Product Outlook (Revenue, USD Million, 2018 - 2030)

• Nanoparticles

  • Liposomes

  • Polymers

  • Micelles

  • Other Nanoparticles

• Embolization Particles

  • PVA Particles

  • Drug Eluting Beads

  • Liquid Emboli

  • Other Embolization Particles

Novel Drug Delivery Systems In Cancer Therapy Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Novel Drug Delivery Systems In Cancer Therapy Market

• Bristol-Myers Squibb Company (Celgene Corporation)

• Teva Pharmaceutical Industries Ltd

• Johnson & Johnson Services, Inc.

• Galen Limited

• Shire (Takeda Pharmaceutical Company Limited)

• Samyang Holdings Corporation

• Merrimack Pharmaceuticals

• Spectrum Pharmaceuticals, Inc.