Transdermal Drug Delivery Systems Market Overview:
Transdermal Drug Delivery Systems (TDDS) are used to administer medications through the skin to the circulatory system. TDDS deliver drugs at a predetermined rate and maintain sufficient concentrations clinically to ensure a quick response. TDD devices are commonly used for pain management and during treatments of chronic diseases like cardiovascular diseases, cancer, and diabetes.
The transdermal drug delivery systems market is growing rapidly over recent years, mainly due to the growing geriatric population and the prevalence of chronic diseases. Moreover, rapid advancements and increasing adoption of transdermal drug delivery technology are expected to accelerate the growth of the market during the forecast period.
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Market Research Future (MRFR) states that the global transdermal drug delivery systems market had created a value of USD 5,400.2 MN in 2017. This market value is expected to appreciate at a double-digit CAGR of 11.8% throughout the forecast period (2018 – 2023). Increasing cancer cases is a major driving force pushing upmarket growth.
Furthermore, the increasing occurrence of needle-stick injuries and growing uses of biologics are driving market growth. Substantial investments drawn in the R&D to develop advanced TDD systems are boosting the growth of the market, significantly. Additionally, spreading awareness, improving outcomes & patients’ experience, and beneficial reimbursement policies impact the market growth, positively.
On the other hand, side effects of TDD systems usages such as edema & irritation and the triviality of these delivery systems such as variation in adhesion to different skin types, impede the growth of the market. Moreover, the drug entry imposed by the skin’s impermeability restricts the usages of TDDS. Also, drugs that require high blood levels can’t be administered through TDDS as it is limited only to potent molecules. Factors as such are thereby anticipated to affect the market growth over the forecast period.
Major Players:
Players leading the Transdermal Drug Delivery Systems Market include Mylan N.V., Hisamitsu Pharmaceutical Co., Inc., Novartis International AG, Boehringer Ingelheim International GmbH, GlaxoSmithKline PLC, Johnson & Johnson Services, Inc., Endo Pharmaceuticals Inc., UCB S.A., Pfizer Inc., Allergan plc., Actelion Pharmaceuticals Ltd, and Noven Pharmaceuticals, Inc., among others.
Transdermal Drug Delivery Systems Market – Segments
The report is segmented into four market dynamics to widen the scope of understanding,
By Product: Transdermal Patches (Drug-In-Adhesive Patches, Matrix Patches, Reservoir Membrane Patches, and Microneedle Patches) and Transdermal Semisolids (Gels, Ointments, and Sprays), among others.
By Technology: Electric Current, Iontophoresis, Electroporation, Ultrasound, Microporation, Thermal, among others.
By Application (HRT): Pain Management, Cardiovascular Diseases, Hormone Replacement Therapy, Central Nervous System Disorders, Smoking Cessation, and Contraception, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Transdermal Drug Delivery Systems Market – Geographical Analysis
North America dominates the global transdermal (percutaneous) drug delivery systems market with the largest market share. Factors such as the presence of major market players and developed healthcare infrastructure drive the growth of the regional market. Moreover, surging numbers of research activities related to transdermal drug delivery systems and comparatively higher adoption of TDD systems in the US and Canada impact the regional market growth, positively.
Besides, the highest GDP helps North America to have the edge over other regions in terms of every aspect, including healthcare and technology. Additionally, huge patient pool suffering from chronic diseases such as cardiovascular diseases alongside the presence of geriatric population and development in medical technology is supporting the growth of the market. The US, backed by the high per capita healthcare expenditures, contributes to the growth of the regional market, significantly.
Europe takes the second-leading position in the global transdermal drug delivery systems market. The phenomenal growth in the pharmaceutical industry and the presence of pharma giant companies such as Novartis International AG, Mylan N.V., Boehringer Ingelheim International GmbH, and Allergan plc., bolster the regional market growth. The resurging economy is playing a vital role in market development, allowing the proliferation of the healthcare sector in the region.
Germany, heading with its flourishing medical devices markets, hugely contributes to the growth of the regional market. Furthermore, the UK and France with the increasing investment in transdermal drug delivery systems drive the regional market at a large scale. The Europe TDDS market is estimated to register a phenomenal CAGR during the review period.
Transdermal Drug Delivery Systems market in the Asia Pacific region is growing rapidly. This growth attributes to the vast patient population and the rising economy in countries such as China, Japan, South Korea, and India. Furthermore, the increasing demand for quality devices in healthcare and rapidly developing healthcare technology is expected to lead the market growth in the APAC region.
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