Healthcare Novel Drug Delivery System (NDDS) Market | Page 2

REPORT DESCRIPTION
Novel Drug Delivery System (NDDS) Market – Overview
Novel Drug Delivery System (NDDS) refers to the formulations, systems to transport pharmaceutical
compound in the body, and approaches needed to achieve the desired therapeutic effect. The side effects
and slow processing of conventional drug therapy are contributing to the emergence of novel drug delivery
system’s concept. Novel ideas based on interdisciplinary approaches controlling the pharmacodynamics,
immunogenicity, pharmacokinetics, bio-recognition, and efficiency of drugs were generated. This new
system helps in reducing the drug degradation, increasing availability of drugs, and prevent from harmful
side effects of drugs.
Growing prevalence of chronic diseases, drug innovation, and the rising biologics market is also
contributing to the growth of novel drug delivery systems market. According to data published by Fraser
Institute Canada in July 2016, around 22% of overall sales of pharmaceutical firms in 2013 and expected to
reach 32% by 2023 globally. The global spending on biologics has increased by 7% as compared to
previous year.