According to the new research report available at MarketStudyReport.com under the title ‘Global Novel Drug Delivery Systems Market Growth 2019-2024’, the worldwide novel drug delivery systems market is expected to surpass US $30300 million by the year 2024.
 

Novel drug delivery system (NDDS) are the technologies, approaches, systems and formulations that are applied for the transportation of pharmaceutical compound in body as per the requirement to safely attain its desired therapeutic effects. It is an unconventional and novice way of drug delivery. The system is the combination of new dosage forms and advance techniques which are way better than the conventional forms.
 

Novel drug delivery systems offer benefits such as efficient use of expensive drugs & excipients, reduced production cost, optimum dose at the right time & right location, better therapy, enhanced comfort & standard of living, and improved efficacy for patients, which are driving the market growth.
 

As per the report, NDDS market was worth US $26500 million in 2019 and is anticipated to record a growth of 2.2% CAGR by the year 2024. Moreover, the average cost of novel drug delivery systems is summarized to be in decreasing trend, hence propelling the market growth in the upcoming years.
 

Considering the application spectrum, the NDDS market is segmented as cancer treatment centers, clinic & hospitals, and others. While based on the product type, the market is fragmented as protein drug conjugates, PEGylated proteins & polypeptides, liposomes, and others. PEGylated proteins & polypeptides segment dominated the market with 39.6% share in 2017, cites the report.
 

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Speaking of the regional outlook, novel drug delivery systems market is divided into four major regions which are Americas, Middle East & Africa, Europe, and Asia Pacific. Moreover, North America led the NDDS market with 49.69% consumption share in 2017.
 

The prominent companies operating in the NDDS market include Galen, Amgen, Breckenridge Pharmaceuticals, Teva, Shire, Union Chimique Belge, Aspen, Roche, Novartis, Celgene, TWi Pharmaceuticals, Sanofi, Bausch&Lomb, Merck, AbbVie, Johnson & Johnson, AstraZeneca, Takeda, AMAG Pharmaceuticals, Gilead Sciences, Astellas, Pfizer, TOLMAR, Dr. Reddy, and Samyang Biopharmaceuticals.