Latest News- New Drug Delivery Systems Market: Oncology is expected to lead the Application segment during 2025-2029

The New Drug Delivery Systems Market is being driven by Rising prevalence of chronic diseases

The New Drug Delivery Systems Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 59.4 billion. In the dynamic healthcare landscape of 2024, drug delivery systems continue to evolve, bringing about significant advancements. Notably, the University of North Carolina's spatiotemporal on-demand patch (SOP) represents a game-changer. This wireless, smartphone/computer-controlled drug patch, featuring microneedles, offers enhanced comfort and convenience for patients managing chronic illnesses. Meanwhile, Evox Therapeutics' DeliverEX technology leads the way in targeted drug delivery to specific organs, including the brain and central nervous system, presenting exciting possibilities for treating complex conditions. However, Teva Pharmaceuticals' decision to discontinue their digital inhalers, AirDuo Digihaler and ArmonAir Digihaler, effective June 1, 2024, may impact the market, with app support ending concurrently. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Oncology
  • Neurology
  • Cardiology
  • Diabetes
  • Others
• Route Of Administration
  • Oral drug delivery systems
  • Injectable drug delivery systems
  • Pulmonary drug delivery systems
  • Transdermal drug delivery systems
  • Others
• Method
  • Targeted drug delivery systems
  • Controlled drug delivery systems
  • Modulated drug delivery systems
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising prevalence of chronic diseases
• Growth in biologics market
• Digitalization in healthcare system

However, the market also witnesses some limitations, which are as follows:

• Stringent regulations
• High manufacturing cost
• Risk of needlestick injuries

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Market Scope in New Drug Delivery Systems Market Research Report

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Research Analysis Overview

The New Drug Delivery Systems market encompasses various routes of administration including oral, parenteral, topical, pulmonary, rectal, vaginal, and ocular. In vitro and in vivo studies are crucial for understanding drug metabolism, excretion, and pharmacokinetics. Factors like dosage regimen, therapeutic window, drug interactions, adverse events, safety, and efficacy impact drug development. Clinical endpoints, patient outcomes, healthcare economics, drug pricing, pharmaceutical reimbursement, and healthcare policy are significant considerations. Emerging trends include polymeric nanoparticles, lipid nanoparticles, magnetic nanoparticles, quantum dots, microfluidic devices, and drug delivery devices. Pharmaceutical and biotechnology industries are at the forefront of innovation in this field, subject to regulatory oversight.

Market Research Overview

The New Drug Delivery Systems market is a significant segment within the global healthcare equipment industry, as identified by Technavio. This market encompasses companies specializing in the research and development (R&D) of innovative drug delivery solutions, such as targeted drug delivery, controlled release, and biodegradable polymers. These technologies include transdermal patches, oral dosage forms, and advanced drug delivery systems. Technavio estimates the size of the global healthcare equipment market by aggregating the revenues of manufacturers in the diagnostic equipment and devices sector, spanning various therapy areas. The healthcare equipment industry is segmented into Devices, which includes advanced, differentiated, and clinically tested data-driven devices. The New Drug Delivery Systems market is a crucial component of this sector, driving innovation and improving therapeutic outcomes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/