Transdermal Drug Delivery System Market Revenue Forecast 2030


 

Transdermal Drug Delivery System Market Growth & Trends

The global transdermal drug delivery system market is expected to reach USD 145.0 billion by 2030, registering a CAGR of 11.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing adoption of transdermal patches, such as in the case of diabetes, which requires sustained and a daily dose of insulin is expected to provide the market with growth opportunities during the forecast period.

High demand for pain-free drug delivery is a major driving factor of the transdermal drug delivery systems market. In the case of diabetes, insulin has to be administered into the patient's body with the help of injections on a continuous basis. Continuous usage of injections to deliver insulin causes pain and increases the risk of transmission of chronic diseases, thus, making transdermal patches a better choice for delivering insulin in diabetic patients.

Request a free sample copy or view the report summary: https://www.grandviewresearch.com/industry-analysis/transdermal-drug-delivery-systems-industry

COVID-19 led to a significant fall in sales of transdermal drug delivery systems. This is because most of these drugs are prescribed drugs and the pandemic led to a sharp fall in patient visits to healthcare facilities. Factors such as lockdowns and travel restrictions led down by the government, to curb the spread of the virus, resulted in reduced patient visits. In addition, many individuals in order to avoid physical contact also avoided visiting healthcare facilities, as a precautionary measure.

However, with the world moving towards normalcy and various pharma companies focusing on developing new novel products, the market represents great opportunities for growth. Moreover, increasing investments by the government in R&D and healthcare are further accelerating the demand for transdermal drug delivery systems in the market.

Transdermal Drug Delivery System Market Report Highlights

  • The iontophoresis segment dominated the market in 2022 owing to its efficacy in delivering drugs. The mechanical arrays segment is expected to maximum growth due to the increasing number of product launches
  • The pain management segment accounted for the highest market share in 2022 due to increasing demand for transdermal patches used for pain management
  • The cardiovascular segment is anticipated to experience maximum growth during the forecast period due to the increasing utilization of these systems in the treatment of cardiovascular diseases
  • North America accounted for the highest market share in 2022 owing to a rise in investments by existing as well as new market players
  • Increasing healthcare expenditure and huge investments in research and development represent lucrative growth opportunities in the Asia Pacific region

Transdermal Drug Delivery System Market Segmentation

Grand View Research has segmented the global transdermal drug delivery system market based on technology, application, and region:

Transdermal Drug Delivery System Technology Outlook (Revenue in USD Million, 2018 - 2030)

  • Electroporation
  • Radio Frequency
  • Iontophoresis
  • Microporation
  • Thermal
  • Mechanical arrays
  • Ultrasound
  • Others

Transdermal Drug Delivery System Application Outlook (Revenue in USD Million, 2018 - 2030)

  • CNS
  • Pain Management
  • Cardiovascular
  • Hormone
  • Immunological
  • Metabolic
  • Gastrointestinal
  • Infection
  • Cancer
  • Others
    • Urological
    • Blood disorders
    • Respiratory
    • Musculoskeletal

Regional Insights

North America held a sizeable share of more than 58.2% in 2022. The growth in this region is majorly driven by patent expirations, resulting in more companies entering the market. In addition, repositioning of previously failed drugs, reformulation of existing drug compounds, and huge investments undertaken by the prominent as well as new market entrants are also presumed to be the key factors responsible for the substantial share captured by this region.

Factors such as favorable reimbursement scenarios and rising awareness by government organizations in Europe are contributing to the growth of the transdermal drug delivery system market in the region. Well-developed healthcare structure that covers the healthcare costs of the citizens, promotes more people opting for treatment in the region. This is expected to further boost the market growth during the forecast period.

The Asia Pacific market is anticipated to exhibit the fastest CAGR of above 13.4% during the forecast period, attributable to the growing healthcare spending and the rapidly evolving healthcare infrastructure. In addition, the growth is due to the high research and development intensity as well as the growing awareness in emerging economies, such as China and India.

List of Key Players in Transdermal Drug Delivery System Market

  • Novartis AG
  • Johnson & Johnson
  • Mylan Pharmaceuticals, Inc.
  • Boehringer Ingelheim GmbH
  • Biogel Technology, Inc.
  • Transdermal Technologies, Inc.
  • Skyepharma, Watson Pharmaceuticals, Inc.
  • 3M Company
  • Noven Pharmaceuticals, Inc.
  • 4P Therapeutics, LLC
  • Transdermal Corporation
  • Echo Therapeutics, Inc.

Authoritative Research: https://www.grandviewresearch.com/industry-analysis/transdermal-drug-delivery-systems-industry

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