Transdermal Drug Delivery System Market worth $8.41 Billion by 2027 – Exclusive Report by The Insight Partners
Global transdermal drug delivery system market is growing at a CAGR of 4.3% from 2020 to 2027.
Pune, India, Sept. 01, 2023 (GLOBE NEWSWIRE) — Transdermal Drug Delivery System (TDDS) is described as a self-contained or discrete dosage form known as patches or semisolid forms that are applied to the intact skin. There are different types of semisolid forms, such as, creams, ointments, gels, sprays and others. Dosage forms are designed to deliver a therapeutically effective amount of drug across a patient’s skin.
Transdermal Drug Delivery System Market in terms of revenue was estimated to be worth $6.06 billion in 2019 and is poised to reach $8.41 billion 2027, growing at a CAGR of 4.3% from 2020 to 2027 according to a new report published by The Insight Partners.
The growth of transdermal drug delivery system market is driven by increasing prevalence of chronic diseases, growing demand for non-invasive drug delivery devices and high demand for self-administration of drugs.
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Browse Comprehensive TOC on “Transdermal Drug Delivery System Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type (Transdermal Patches and Transdermal Semisolids); Application (Cardiovascular Diseases, Central Nervous System Disorders, Pain Management, Hormonal Applications and Others); End User (Hospitals & Clinics, Home Care Settings and Others); and Geography.”
List of Tables – 141
List of Figures – 73
No. of Pages – 228
Global Transdermal Drug Delivery System Market Scope:
|Market Size Value in||USD 6.06 Billion in 2019|
|Market Size Value by||USD 8.41 Billion by 2027|
|Growth rate||CAGR of 4.3% from 2020-2027|
|Segments covered||Type, Application, End User and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Cardiovascular (CV) diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction are the major cause of mortality in the whole world owing to the present day hectic lifestyle. As per the data provided by WHO, cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Many medications are commercially available for their treatment but the conventional tablets and capsules are unable to cope up with these situations. This augments the use of novel drug delivery systems providing targeted drug delivery and prolonged drug residence to the affected areas of the cardiovascular system. Novel drug delivery systems started with the platform application involving the introduction of transdermal patches, containing drug particles, were applied on skin. They are believed to offer many advantages over conventional oral therapies. Moreover, sizeable number of anti-hypertensive is undergoing extensive first-pass metabolism, which can be avoided by transdermal therapy. Hence, the adoption of transdermal drug delivery systems is likely to experience rapid adoption, which in turn is propelling the market growth.
Global Transdermal Drug Delivery System Market: Segmental Overview
Based on type, the transdermal drug delivery system market is segmented into transdermal patches and transdermal semisolids. The transdermal patch segment is further sub segmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and micro needle patches. The transdermal semisolids segment is further sub segmented into gels, ointments and sprays. The transdermal patches segment held the largest share of the market in 2019. Also, transdermal patches is estimated to register the highest CAGR in the market during the forecast period.
Based on application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications. The hormonal applications segment is further sub segmented into transdermal estrogen therapy and testosterone replacement. The pain management segment held the largest share of the market in 2019; however, pain management segment is estimated to register the highest CAGR in the market during the forecast period.
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Based on end user, the global transdermal drug delivery system market is segmented into hospitals and clinics, home care settings, and others. The hospitals and clinics segment held the highest share of the market in 2019; whereas, the home care settings segment is estimated to register the highest CAGR in the market during the forecast period.
Global Transdermal Drug Delivery System Market: Competitive Landscape
Novartis Ag, Johnson & Johnson Services, Inc., Glaxosmithkline Plc., Bayer Ag, Mylan N.V., Boehringer Ingelheim International Gmbh, Hisamitsu Pharmaceutical Co.,Inc., Luye Pharma Group, Purdue Pharma L.P., and Lavipharm are some of the leading companies operating in the transdermal drug delivery system market.
Global Transdermal Drug Delivery System Market – Key Industry Dynamics:
- Increasing Prevalence of Chronic Diseases
- Growing Demand for Non-Invasive Drug Delivery Devices
- High Demand for Self-Administration of Drugs
- High Cost Involved in Development of Drug Delivery Systems
- Drug Failure and Recalls of Transdermal Drug Delivery Systems
- Strategic Activities by the Manufacturers
- Rise in Adoption of Third-Generation Delivery Systems
Feb 2020, GlaxoSmithKline announced that the FDA has approved Voltaren Arthritis Pain as an over-the-counter (OTC) product for the temporary relief of arthritis pain in the hand, wrist, elbow, foot, ankle or knee in adults. With the FDA’s approval, Voltaren Arthritis Pain becomes the first and only prescription strength, nonsteroidal anti-inflammatory (NSAID) topical gel for arthritis pain available OTC in the United States.
Dec 2019, Hisamitsu Pharmaceutical Co., Inc. launched HARUROPI TAPE, transdermal, Parkinson’s disease treatment patch in Japan from December 17, 2019 following National Health Insurance (NHI) drug price listing on November 19, 2019.
Jul 2019, Luye Pharma Group has announced that the German Federal Institute for Drugs and Medical Devices has approved the marketing authorization of the company’s Rivastigmine once-a-day transdermal patch in a dosage of 13.3mg/24h. The high dosage strength comes in addition to two other dosage strengths already on the market, 4.6mg/24h and 9.5mg/24h, helping doctors provide more suitable dosages to patients in accordance with their needs.
Jun 2018, Mylan announced the U.S. launch of Rivastigmine Transdermal System, 4.6 mg/24 hrs, 9.5 mg/24 hrs and 13.3 mg/24 hrs, a generic version of Novartis’ Exelon Patch.
- Progressive industry trends in the transdermal drug delivery system market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the transdermal drug delivery system market from 2020 to 2027
- Estimation of global demand for transdermal drug delivery system
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the transdermal drug delivery system market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the transdermal drug delivery system market size at various nodes
- Detailed overview and segmentation of the market, as well as the transdermal drug delivery system industry dynamics
- Size of the transdermal drug delivery system market in various regions with promising growth opportunities
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Drug Delivery Market – Global Analysis and Forecast to 2028
Drug Delivery System Market – Global Analysis and Forecast to 2027
Transmucosal Drug Delivery Systems Market – Global Analysis and Forecast to 2030
Nasal Drug Delivery Systems Market – Global Analysis and Forecast to 2030
Electronic Drug Delivery Systems Market – Global Analysis and Forecast to 2030
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