Albany, NY -- (SBWIRE) -- 11/12/2018 -- The world is witnessing a continuous rise in the incidence of various types of cancer. Clinical benefits of embolic agents and nanoparticles over other therapy and drug delivery systems; technological advances leading to the development of new and innovative therapy; and expanding therapeutic indications of existing NDDS are some of the major factors expected to drive growth of the global NDDS in cancer therapy market during the forecast period from 2014 to 2020. On the other hand, factors such as high treatment cost associated with NDDS, strict regulatory pathways and cost associated with new product development may restrict market growth to some extent. One of the major opportunities in this market is nano-enabled drug delivery systems as this segment has been anticipated to grow at the highest CAGR of 24.7% during the forecast period.
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The global market for NDDS in cancer therapy was valued at USD 3,655.3 million in 2013 and is expected to reach USD 15,984.2 million in 2020, growing at a CAGR of 23.7% during the forecast period from 2014 to 2020. Embolization particles, liquid embolics and nanoparticles as drug delivery systems altogether comprise the global market for NDDS in cancer therapy. PVA particles, microspheres, drug eluting beads (DEB) and selective internal radiation therapy (SIRT) are the major products under the embolization particles market segment, while Onyx LES and TRUFILL nBCA LES are the two major liquid embolic system brands. The liquid embolics market segment is expected to grow at a CAGR of 4.9% during the forecast period from 2014 to 2020.
Nanoparticles in novel drug delivery systems have emerged as a promising technology to treat patients suffering from various types of cancer. The market for nanoparticles segment was valued at USD 3,307.7 million in 2013 with the largest revenue share in the overall NDDS in cancer therapy market. Over the past two decades, many nanoparticles such as Doxil (doxorubicin), Megace ES (megestrol acetate), Abraxane (paclitaxel), Myocet (doxorubicin), DepoCyt (liposomal cytarabine), and DaunoXome (daunorubicin citrate) have been approved as drug delivery systems for cancer therapy.
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Geographically, North America was the largest regional market for NDDS in cancer therapy in 2013, with a market share of 46.6%. Growing at a CAGR of 24.9% during the forecast period 2014 to 2020, its market share is expected to reach 49.7% in 2020. Europe captured the second largest share after North America and accounted for 29.2% of the global market revenue in 2013. In the Asia Pacific region, Japan, China, India, Australia and New Zealand are the potential markets that offer enormous opportunities for NDDS in cancer therapy market to grow substantially in the region. Major factors that will be responsible for market growth in these markets include emerging economies, growing market penetration by major players in these regions and improvement in reimbursement scenario. The Asia Pacific market is expected to grow at a CAGR of 22.6% during the forecast period.
The key players operating in the NDDS in cancer therapy market are Advanced Medical Isotope Corporation, Bind Therapeutics, Boston Scientific Corporation, BTG plc, CeloNova BioSciences, Inc., Cook Medical, Inc., Cospheric LLC, Covidien, plc, Eckert & Ziegler BEBIG, EmboMedics, Inc., Kobo Products, Inc., Merit Medical Systems, Inc., Mo-Sci Corporation, Nanobiotix, Polysciences, Inc., Sirtex Medical, Inc. and Terumo Medical Corporation.
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