Transdermal Drug Delivery Systems Market Size To Expand at a Notable CAGR Of 5.10% During 2023 - 2030

Pune, India, March 2023/MRFR Press Release/- Market Research Future has published a half-cooked research report on the global transdermal (percutaneous) drug delivery systems market.

Market Highlights

The global transdermal (percutaneous) drug delivery systems market is expected to reach USD 45.19 billion by 2030 and is projected to grow at a CAGR of 5.10% over the forecast period (2023-2030).

Transdermal drug delivery system (TDDS) delivers drugs into systemic circulation into the skin through the skin at a predetermined rate with minimal inter and intrapatient variation. TDDS has emerged as a potential novel drug delivery system in the past couple of decades to improve the therapeutic efficacy and safety, maintain a steady state plasma level of drugs and overcome disadvantages of the conventional oral dosage forms and parenteral preparations. Some of the major factors driving the market growth are rapid technological advancements in transdermal drug delivery systems and increasing adoption of third-generation delivery systems, the growing geriatric population along with the rise in prevalence of chronic diseases across the world. For instance, as per the data published by the World Health Organization (WHO), in 2001, chronic diseases accounted for around 60.0% of the 56.5 million total reported deaths in the world and almost 46% of the global burden of disease. Chronic diseases are anticipated to contribute for nearly three-quarters of all deaths worldwide, and that 75% of deaths due to stroke, 71% of deaths due to ischemic heart disease (IHD), and 70% of deaths due to diabetes will occur in developing countries.

Few of the technological advancements in the TDDS are transdermal patch design modification, incorporation of pressure sensitive adhesives and permeation enhancers that results in the enhancement of drug diffusion and increased the capacity to hold the drug in larger amount are expected to propel the demand for TDDS during the forecast period. Technological inventions such as the inclusion of microneedles or mechanical arrays in transdermal patches and miniaturized and advanced transdermal patches and reservoir type transdermal patches that deliver precise medication dose are expected to facilitate the market growth during the forecast period.

Regional Analysis

The global transdermal (percutaneous) drug delivery systems market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On the basis of region, the Americas spearheaded the global transdermal (percutaneous) drug delivery systems market in 2017. This is due to the existence of prominent market participants and developed healthcare infrastructure, a rising number of product launches and the continued participation of the leading vendors in conducting clinical trials in the US and Canada.

Europe would be the second-largest value contributor in the transdermal (percutaneous) drug delivery systems market as the transdermal patches are gaining popularity in the UK, Germany, and France because patients and primary care physicians are mostly focused on easier drug delivery methods.

The market in Asia-Pacific is forecasted to showcase comparatively higher CAGR during the forecast period attributed to growing older population base along with the rising prevalence of chronic diseases, growth in healthcare spending, raise in awareness about TDDS, and to increase research and development activities.

The Middle East & Africa has the least share of the global transdermal drug delivery systems market. Additionally, the major market share of the region would be held by the Middle East region due to growing healthcare sectors and health system reforms in the Gulf Cooperation Council (GCC) countries.

Explore In-depth Details: Transdermal Drug Delivery Systems Market Research Report

Segmentation

The global transdermal (percutaneous) drug delivery systems market has been segmented into product, technology, application, and region.

By product, the market has been segmented into transdermal patches and transdermal semisolids. The transdermal patches segment is further categorized into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and microneedle patches. The transdermal semisolids segment is additionally divided into gels, ointments, and sprays.

On the basis of technology, the market has been divided into electric current, iontophoresis, electroporation, ultrasound, microporation, thermal, and others.

Based on application, the market has been categorized into pain management, cardiovascular diseases, hormone replacement therapy, central nervous system disorders, smoking cessation, contraception, and others.

Key Players

Some of the foremost players in the global transdermal (percutaneous) drug delivery systems market are Mylan N.V., Hisamitsu Pharmaceutical Co., Inc., Novartis International AG, Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Endo Pharmaceuticals Inc., UCB S.A., Pfizer Inc., Allergan plc, Actelion Pharmaceuticals Ltd, and Noven Pharmaceuticals, Inc.