Transdermal Drug Delivery Systems Market Overview:
Global Transdermal Drug Delivery Systems Market was valued at $32,516 million in 2016, and is estimated to reach $61,689 million by 2023, growing at a CAGR of 9.5% during the study period. Transdermal drug delivery systems are an alternative to oral intravascular, subcutaneous, and transmucosal routes, wherein the drugs are delivered through the skin for therapeutic use. Rise in geriatric population and upsurge in number of patients suffering from chronic disorders are expected to drive the market growth. Moreover, increase in adoption of third-generation transdermal drug delivery systems, such as iontophoresis, boosts the market growth. However, disadvantages of these delivery systems, such as irritation at the site of application and edema, are expected to impede the market growth.
Rise in Incidence of Chronic Disorders and Geriatric Population
As per the estimates of the World Health Organization, globally, more than 422 million people were diagnosed with diabetes in 2014. In addition, rise in geriatric population poses risk for increase in incidence of diabetes. For instance, aged people (>65 years of age) are more susceptible to Type 2 diabetes.
Growth in Asia-Pacific Region
Asia-Pacific offers lucrative opportunities for the market growth, owing to presence of large pool of patients suffering from chronic disorders, such as hypertension. According to a CADI Research Foundation, hypertension is the most prevalent disease in India. It is evident from the fact that the number of people with hypertension is projected to increase to 214 million in 2025 from 118 million in 2000. Hence, high incidence of cardiovascular disorders, such as hypertension, makes it an attractive market for transdermal drug delivery systems.
The market has witnessed development of new adhesives, molecular absorption enhancers, and penetration enhancers that are expected to enhance skin permeability, resulting in expansion of the range of drugs that are expected to be delivered through transdermal route. For instance, new technology, such as micro needle-enhanced delivery, helps easy transportation of drug across the skin without the sensation of pain.
Global Transdermal Drug Delivery Systems: Market Segmentation
The global transdermal drug delivery systems market is segmented on the basis of type of delivery system, application, and region. Based on type of delivery system, it is classified into passive and active delivery systems. The passive delivery systems are further divided into matrix system and reservoir system. Active delivery systems are categorized into structure based, electrical based, and others. By application, it is divided into analgesics, hormone replacement therapy, cardiovascular disorders, motion sickness, smoking cessation, and others. It is analyzed across regions, such as North America, Europe, Asia-Pacific, and LAMEA.
The key companies operating in the market include Novartis AG, Johnson & Johnson, Mylan N.V., Boehringer Ingelheim GmbH, Bayer AG, Bristol-Myers Squibb Company, GlaxoSmithKline plc, Acrux Limited, Echo Therapeutics, Inc., and Endo Pharmaceuticals Inc.
South Africa: Transdermal Drug Delivery Systems Market, 2016-2023 ($Million)
- The study provides an in-depth analysis of the global transdermal drug delivery systems market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2016 to 2023 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
Transdermal Drug Delivery Systems Market Key Segments:
By Type of Delivery System
- Matrix System
- Reservoir System
- Structure Based
- Electrical Based
- Hormone Replacement Therapy
- Cardiovascular Disorders
- Motion Sickness
- Smoking Cessation
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA