Transdermal Drug Delivery Systems Market worth $7.1 billion by 2023


Posted April 19, 2022 by mmvaidya

The study involved four major activities to estimate the current market size for transdermal drug delivery systems. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market.
 
Overview:

The study involved four major activities to estimate the current market size for transdermal drug delivery systems. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size. Finally, the market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

Expected Revenue Surge:

The transdermal drug delivery systems market is expected to reach USD 7.1 billion by 2023 from an estimated USD 5.7 billion in 2018, at a CAGR of 4.5% during the forecast period (2018-2023). Market growth is largely driven by the global increase in the prevalence of chronic diseases. In addition, technological advancements in transdermal drug delivery systems are also expected to support market growth in the coming years.

Market Size Estimation:

Top-down and bottom-up approaches were used to validate the size of the transdermal drug delivery systems market and estimate the size of other dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Download PDF [email protected]
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203190114

Data Triangulation:

After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.

The pain management segment is expected to account for the largest share of the market in 2018

On the basis of application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications (smoking cessation, motion sickness, and overactive bladder treatment). In 2018, the pain management segment is expected to account for the largest share of the transdermal drug delivery systems market. Growth in this market is largely driven by the high burden of chronic pain worldwide and the growing availability of transdermal products for pain management.

The transdermal patches segment is expected to grow at the highest CAGR during the forecast period

On the basis of type, the transdermal drug delivery systems market is segmented into transdermal patches and transdermal semisolids. In 2018, the transdermal patches segment is expected to account for the larger share of the transdermal drug delivery systems market. This drug delivery system offers several advantages, such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch. Also, the use of patches results in increased patient compliance due to their non-invasive nature and painless application. These factors are expected to drive market growth.

North America to dominate the transdermal drug delivery systems market in 2018

North America is expected to dominate the transdermal drug delivery systems market in 2018. The large share of the North American transdermal drug delivery systems market can primarily be attributed to the rising prevalence of targeted diseases (such as chronic pain, central nervous system disorders, and cardiovascular diseases) in the region, the increasing use of contraceptives, and the increasing number of research activities related to transdermal drug delivery systems.

Key Players:

The key players in the transdermal drug delivery systems market are Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), GlaxoSmithKline (UK), Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).

Request Sample [email protected]
https://www.marketsandmarkets.com/requestsampleNew.asp?id=203190114
-- END ---
Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags transdermal drug delivery , transdermal drug delivery systems , transdermal drug delivery systems market
Last Updated April 19, 2022