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Transdermal Drug Delivery Market is Anticipated to expanding at a CAGR of 7.5% over the forecast period i.e. 2017-2024
Transdermal Drug Delivery Market Outlook
North America is slated to account for a leading share of 33.7% in the terms of revenue by 2024 in the transdermal drug delivery market. The growth in the region is anticipated to be fostered by the high spending on healthcare in the region. Besides, high adoption rate of advance technologies is also expected to impel the growth of transdermal drug delivery market in the North America region. U.S. is the prominent market in the region.
Europe market is expected to expand at a CAGR of 6.6% during the forecast period i.e. 2017-2024. Further, U.K. & Germany are the major contributor to the growth of transdermal drug delivery market.
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In addition to this, U.K. transdermal drug delivery market is expected to reach USD 249.1 Million by the end of 2024 from USD 149.1 Million in 2016. Further, U.K. is anticipated to flourish at a CAGR of 6.8% over the forecast period. U.K. transdermal drug delivery market contributed around 12.2% market share of total Europe transdermal drug delivery market in 2016. Further, U.K. is projected to capture 12.4% market share by 2024. U.K. transdermal drug delivery market expected to achieve Y-o-Y growth rate of 7.9% in 2024 as compared to previous year.
Global transdermal drug delivery market is segmented on the basis of application into cardiovascular, CNS, pain management, dermatology and others. Cardiovascular transdermal drug delivery (23.5% share in 2016) occupies the largest market of transdermal drug delivery across the globe. Further, global cardiovascular transdermal drug delivery market is anticipated to reach USD 1,911.3 Million by the end of 2024 from USD 987.2 Million in 2016.
Electric current segment is further sub-segmented into electroporation and iontophoresis, out of which, iontophoresis segment with 60.6% share is anticipated to have the largest share by 2024. Additionally, iontophoresis sub-segment accounted for USD 635.6 Million in 2016 and is forecasted to reach USD 1,232.1 Million by the end of 2024. Further, iontophoresis segment is forecasted to observe a growth rate of 1.9x over the forecast period.
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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