The effectiveness of novel drug delivery systems in cancer therapy is another important reason driving the growth of the novel drug delivery systems market. For example, according to data released by the International Journal of Pharma Sciences and Research (IJPSR), approximately 9 million people died as a result of cancer in 2015, with estimates indicating that approximately 11.4 million people will die as a result of cancer by 2030. However, factors such as the patent cliff, patent expiry, and an increase in injury cases are impeding the growth of the global innovative drug delivery systems market.
Over the past few years, the use of novel drug delivery system has increased in cancer therapy. Effectiveness of novel drug delivery system in cancer therapy is also a major factor driving the growth of the market. Moreover, the Food and Drug Administration (FDA) has approved many new products with novel delivery methods. This in turn is also expected to propel the growth of the Novel Drug Delivery System (NDDS) Market. Drug discovery and development process is nowadays conducted in relatively standardized sequence of phases, starting with discovery and being followed by preclinical, clinical and non-clinical development.
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