Rise in geriatric population, increase in number of patients suffering from chronic disorders, increase in adoption of third-generation transdermal drug delivery systems, increased investments by the government and healthcare developments are key factors contributing to high CAGR of transdermal drug delivery system during forecast period.
According to the current analysis of Reports and Data, the Transdermal Drug Delivery Systems market was valued at USD 6,225.2 Million in 2020 and is anticipated to reach USD 8,654.9 Million by the year 2028, at a CAGR of 4.1%. These systems are an excellent alternative to the oral, intravascular, subcutaneous, and transmucosal routes, where medications are administered through the skin for therapeutic purposes. This industry has witnessed the development of new adhesives, molecular absorption enhancers, and penetration enhancers that are expected to improve skin permeability, which will expand the range of transdermally administrable drugs. New technology, such as the improved micro-needle supply, makes it easy to carry the drug through the skin without feeling pain. The market is divided into five categories according to the applications, namely pain management, central nervous system disorders, hormonal applications, cardiovascular diseases and other applications such as smoking cessation, vertigo and the treatment of overactive bladder. By 2018, the pain management segment is expected to represent the majority of the market for transdermal drug delivery systems. Most of this segment can be attributed to the increasing availability of transdermal products for the treatment of pain. On technology basis, the market is classified in the fields of thermal, iontophoresis, electroporation, ultrasound, electrical current, microporation, mechanical matrices, and radio frequencies. Depending on the type of distribution system, it is classified in the passive and active distribution systems. Passive administration systems are further classified as a matrix system and a repository system. Dynamic distribution systems are classified into structure, electricity, and others.
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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches, brand promotions, and corporate deals, among others.
Key companies operating in the market and profiled in the report include:
Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), and GlaxoSmithKline (UK). Boehringer Ingelheim (Germany), Johnson Johnson (US), Endo International (Ireland), and Purdue Pharma (US).
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The Transdermal Drug Delivery Systems market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.
Segments Covered in the report
Type (Revenue, USD Million; 2018–2028)
- Semisolid formulations
Technology Type (Revenue, USD Million; 2018–2028)
- Electric Current
- Mechanical Arrays
- Radio Frequency
Applications Type (Revenue, USD Million; 2018–2028)
- Pain Management,
- Central Nervous System Disorders,
- Hormonal Applications,
- Cardiovascular Diseases
End Use (Revenue, USD Million; 2018–2028)
Key Regions Analyzed in the Report include:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Furthermore, it consists information about individual segment of the Transdermal Drug Delivery Systems market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values for each segment to provide clear understanding of demand and trend in the global market.
Further key findings from the report suggest
- Transdermal Drug Delivery System market is growing at a CAGR of 5.5% in Asia-Pacific, followed by North America and Europe, with 4.3 % and 4.2% CAGR, respectively. High prevalence of chronic diseases across the globe is the key factor in accelerating market growth during the forecast period across all regions.
- As of 2018, Patches is dominating the target market which holds 43.9% of the global market. North America regional market is the chief revenue generating source for this product segment, followed by Asia-Pacific and European regions.
- Little technological advance in the transdermal drug delivery market is related to the modification of transdermal patch design, incorporation of pressure-sensitive adhesives, and permeation enhancers.
- The foregoing results in improved drug delivery and higher drug retention capacity in larger amounts is expected to stimulate market demand for the target market during the forecast period.
- Transdermal patches provide better control over toxicity levels because they can be easily removed if the drug is tested for more significant toxic effects.
- Technological inventions such as the inclusion of micro-needles assemblies in patches improve the accuracy of medication delivery.
- Miniaturized and advanced transdermal patches and reservoir-type transdermal patches that deliver a precise dose of medication should also enhance the growth of the transdermal drug delivery market over the forecast period.
- Since the first transdermal patch was approved in 1981 to prevent nausea and vomiting associated with motion sickness, the FDA has supported more than 35 transdermal patches covering 13 molecules over the past 22 years.
- With respect to the product landscape, the transdermal delivery system market report segments the industry into fentanyl, nitroglycerin, nicotine, and so on.
- Transdermal therapeutic systems have been designed to provide a controlled and continuous supply of medication through the skin to the systemic circulation. In addition, it overcomes several side effects, such as the painful supply of medications and the first-pass metabolism of the drug that has been produced by other means of the drug delivery system.
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