Transdermal Drug Delivery Systems Market worth $7.1 billion by 2023 - Exclusive Report by MarketsandMarkets™


Posted January 18, 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.
 
According to the new market research report, "Transdermal Drug Delivery System Market by Type (Patches and Semisolid formulations), Applications (Pain Management, Central Nervous System Disorders, Hormonal Applications, Cardiovascular Diseases), End User, and Region - Global Forecast to 2023", 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).

Browse and in-depth TOC on "Transdermal Drug Delivery System Market"
71 - Tables
35 - Figures
133 - Pages

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Growth Boosting Factors:

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.

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.

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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 Playyers

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).

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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 January 18, 2022