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Transdermal Drug Delivery Systems Market Segmented by Top Manufacturers - Novartis AG, Johnson & Johnson, Mylan N.V., Boehringer Ingelheim GmbH, Bayer AG, Bristol-Myers Squibb Company, GlaxoSmithKline plc

06-19-2019 08:57 PM CET | Health & Medicine

Press release from: Allied Market Research

Transdermal Drug Delivery Systems Market

Transdermal Drug Delivery Systems Market

"Transdermal Drug Delivery Systems Market by Type of Delivery System and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global transdermal drug delivery systems market was valued at $ 32,516 million in 2016, and is projected to reach $61,689 million by 2023, growing at a CAGR of 9.5% from 2017 to 2023. The passive system segment held more than three-fifths share of the total market in 2016.

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Transdermal drug delivery systems are used to deliver drug through intact skin at a controlled rate into the systemic circulation. Increase in geriatric population and rise in number of patients suffering from chronic disorders, such as hypertension, diabetes, and angina, are expected to drive the market growth. Moreover, surge in adoption of new delivery system technologies, such as ultrasound, 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.

The passive system segment is expected to dominate the market throughout the analysis period, owing to increase in the incidence of chronic disorders, such as hypertension. The active system segment is expected to register highest CAGR of 12.8% during the forecast period.

Key Findings of the Transdermal Drug Delivery Systems Market:
• Reservoir system segment is projected to grow at a CAGR of 7.3% during the forecast period.
• Matrix system contributed for nearly two-third share of the global passive transdermal drug delivery systems market, in 2016.
• Structure-based drug delivery system segment is expected to register the highest CAGR of 13.3% during the analysis period.
• Cardiovascular disorders segment is expected to grow at the highest CAGR of 10.8% during the forecast period.
• France and Germany collectively contributed for more than one-third share of the European transdermal drug delivery systems market in 2016.
• Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific transdermal drug delivery systems market in 2016.

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Asia-Pacific is projected to register the highest CAGR of 10.1% during the forecast period, owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (India and China) to cater to the unmet medical needs. Technological advancements to develop cost-effective technologies in these nations offer a lucrative opportunity for the market growth.

The major companies profiled in the report includes 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.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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