NDDS in Cancer Therapy Market is expected to reach USD 15.9 billion in 2020
Albany, New York (PRWEB) February 02, 2015 -- The growing incidence of cancer is likely to propel oncologists to use novel drug delivery systems (NDDS) for the effective treatment of cancers, ultimately driving market growth for NDDS in cancer therapy. GLOBOCAN, an online cancer database by the International Agency for Research on Cancer (IARC), reported that globally 14.1 million people were diagnosed with cancers (excluding non-melanoma skin cancer) during 2012 as compared to 12.7 million in 2008. The incidence rate is expected to reach 15.2 million and 17.1 million in 2015 and 2020, respectively. In terms of technology, the NDDS in cancer therapy market can be segmented into embolization particles, liquid embolics and nanoparticles. Extensive efforts are underway to develop sophisticated embolic agents such as drug-eluting microspheres, beads, bland embolization and radioactive Y-90 microspheres for the treatment of cancer, especially primary and/or secondary liver diseases. Embolization procedures have gained popularity in the interventional radiology sector, due to their potential to overcome the drawbacks of traditional methods such as chemotherapy, and eliminate systemic side effects. The selection of an embolic particle depends on the clinical indication for the procedure, requirement of temporary and permanent occlusion, flow dynamics, the risk of complications such as necrosis, and cost.
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Liquid embolics are being increasingly used for the treatment of medical conditions such as arteriovenous malformations (AVMs), aneurysms and arteriovenous fistulas (AVFs). TRUFILL N-butyl cyanoacrylate (nBCA) liquid embolic system and Onyx (Onyx LES and Onyx HD-500) are the two commercially available liquid embolic system brands that are delivered in a liquid form by using specifically designed micro-catheter into the affected area. These liquid embolic systems via ionic or thermal processes polymerize into solid material upon contact with blood and obstruct blood flow to the targeted area. The nanoparticles segment accounted for the largest share of the market in 2013. The segment was valued at USD 3,307.7 million in 2013 and is expected to reach USD 15,304.2 million in 2020, growing at a CAGR of 24.7% between 2014 and 2020. Extensive research and development in nanotechnology, increasing prevalence of various types of cancer and the presence of a large number of drugs/molecules in clinical trials are expected to contribute to growth of the nano-enabled drug delivery systems segment during the forecast period from 2014 to 2020.
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Technological advances in embolization devices and nano-enabled drug delivery systems have been major growth drivers in this market. Major recent technological advances in embolization devices include the development of drug eluting microspheres, bio-resorbable beads and the use of different radioactive elements such as Yttrium-90 to treat the affected tumor site. These advances have resulted in enhanced performance by the devices and are ultimately driving market growth by their increased adoption. Nanobiotix, a nanomedicine company focused on oncology, is developing NanoXray particles with the intent to enhance dose and efficacy of radiotherapy in tumor without increasing the dose delivered to adjacent healthy tissues. A team of scientists at Massachusetts Institute of Technology (MIT) have developed nanoparticles that can carry three chemotherapy drugs at a time and are striving to design nanoparticles to carry even more drugs. Continuous efforts in the area of research and development related with nanoparticles are expected to contribute to market growth of nano-enabled drug delivery systems in cancer therapy.
Geographically, the market has been categorized into four major regions: North America, Europe, Asia Pacific and Rest of the World. North America represented the largest regional market with a share of 46.6% of the overall NDDS in cancer therapy market in terms of revenue in 2013, followed by Europe and Asia Pacific. According to the National Cancer Institute, there were an estimated 43,538 people suffering from pancreatic cancer in the U.S. in 2011. Presence of a large number of patients suffering from various types of cancer, well-established healthcare infrastructure and favorable reimbursement scenario in the region are the major factors driving the NDDS in cancer therapy market in North America. Increasing incidences of various types of cancer across the world, technological advances leading to the introduction of new and innovative products, and a large number of pipeline products are the other factors fueling the growth of the NDDS in cancer therapy market in developed countries.
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The major players operating in this 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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