Global Transdermal Drug Delivery System Market Opportunities and Forecast 2023-2030

Transdermal Drug Delivery System Market Overview

The transdermal drug delivery system is a technique that provides drug absorption via the skin. The system has many advantages over conventional administration routes such as intravenous or oral administration for systemic and local drug delivery with simple administration.

The global Transdermal Drug Delivery System market is primarily driven by factors such as the increase in the prevalence of chronic diseases and technological advancements in transdermal drug delivery systems. The demand for novel techniques with a low dose and less dosing frequency of drugs is increasing rapidly. As well, Nanotechnology in the field of drug delivery is one of the innovative methods of drug delivery. This key fact remarkably contributes to the growth of the global Transdermal Drug Delivery System market.

The professional caregivers and laypersons are using several types of equipment or devices. The effective nature of these devices can be attributed to the heightened drug diffusion capabilities over conventional routes of drug delivery, specifically oral, intravenous, and pulmonary. Furthermore, the increasing inclination of patients as well as physicians toward pain-free drug delivery. All these important factors contribute to the market’s development remarkably.  Moreover, high demand for self-administration of drugs for diseases requiring long-term treatment, this key reason also supports the growth of the market steadily.

In addition, the incorporation of transdermal systems will promote self-reliance in patients through a significant reduction in the rate of hospital visits and increasing treatment costs. In addition to this, the automated drug delivery systems eradicate the manual dosing process. For instance, Logiq wireless solutions is a remotely controlled transdermal drug delivery device. All these aforementioned factors are heavily taking part in the Transdermal Drug Delivery System market’s expansion. 

Covid-19 Impact on Transdermal Drug Delivery System Market:

In addition, the current Transdermal Drug Delivery System Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Transdermal Drug Delivery System Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.

The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.

Transdermal Drug Delivery System Market Segment Overview

Diabetes Application Segment has the largest share of the transdermal drug delivery systems market. This is because of the rising prevalence of diabetes across the globe. Diabetes affects more than 415 million people worldwide and is estimated to strike about 642 million people in 2040. The WHO reported that diabetes will become the seventh biggest cause of mortality in 2030.  The transdermal system is a field worth exploring due to its significant advantages over the oral route in the administration of antidiabetic drugs and biosensing of blood glucose levels to ensure better clinical outcomes in diabetes management.

Moreover, the pain management segment is expected to account for the largest share of the market. The large share of this segment can be attributed to the high burden of chronic pain globally and the growing availability of transdermal products for pain management. Additionally, by Type, the Transdermal Patches segment is projected to grow at a higher rate over the forecast period. This is mainly due to the benefits offered by transdermal patches such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch.

Transdermal Drug Delivery System Market, By Application

·       Infectious Diseases
·       Oncology
·       Ophthalmology
·       Urology
·       Diabetes
·       Central Nervous System Disorders
·       Pain Management
·       Hormonal Applications
·       Others

Transdermal Drug Delivery System Market, By Type

·       Transdermal Patches 
·       Transdermal Semisolids

Transdermal Drug Delivery System Market, By End User

·       Home Care Settings
·       Hospitals & Clinics
 
Transdermal Drug Delivery System Regional Overview

Region-wise, North America is anticipated to dominate the overall market, throughout the forecast period. The huge investments undertaken by prominent as well as new market entrants are projected to boost the growth of the Transdermal Drug Delivery System market in this region. Similarly, Asia Pacific is expected to be the most attractive market during the forecast period. The increasing incidence of chronic diseases and rising awareness allowing proper management of diseases are majorly contributing to the market’s growth. In addition to this, rising demand for better and technologically advanced drugs and devices and favorable government initiatives to support the management and treatment of diseases are further propelling the growth of the market in this region.

Transdermal Drug Delivery System Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)

Transdermal Drug Delivery System Market Competitor overview

Some key developments and strategies adopted by manufacturers in Transdermal Drug Delivery System are highlighted below.

In January 2018, Hisamitsu Pharmaceutical launched ALLESAGA TAPE in the Japanese market.
In July 2018, UCB received the Import Drug License (IDL) for its transdermal rotigotine patch—NEUPRO from the China Food and Drug Administration (CFDA).
 
Transdermal Drug Delivery System Market, Key Players

·       Novartis AG
·       GlaxoSmithKline 
·       F. Hoffmann-La Roche Ltd.
·       Johnson & Johnson Services, Inc.
·       Becton, Dickinson and Company
·       Hisamitsu Pharmaceutical 
·       Mylan
·       UCB
·       Boehringer Ingelheim
·       Endo International
·       Purdue Pharma