According to the current analysis of Reports and Data, the Transdermal Drug Delivery 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.
According to the applications, the market is classified into five categories: pain management, disorders of the central nervous system, hormonal applications, cardiovascular illnesses, and other applications such the treatment of vertigo, smoking cessation, and overactive bladder. The market for transdermal medication delivery systems is predicted to be dominated by the pain management segment by 2018. The growing accessibility of transdermal pain relief medicines is mostly responsible for this market sector.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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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 Drug 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.
Competitive Outlook of the Global Transdermal Drug Delivery Market
The globla Transdermal Drug Delivery market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Transdermal Drug Delivery market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
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).
Transdermal Drug Delivery Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
- Patches
- Semisolid formulations
- Others
Technology Type (Revenue, USD Million; 2018–2028)
- Thermal
- Iontophoresis
- Electroporation
- Ultrasound
- Electric Current
- Microporation
- 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)
- Hospital
- Clinic
- Others
Geographic Segment Covered in the Report:
The Transdermal Drug Delivery report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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