Transdermal Drug Delivery System Market Global Forecast 2020 to 2027 - Top Companies like Lavipharm, Luye Pharma Group, Hisamitsu Pharmaceutical, Bayer Ag
The transdermal drug delivery system market was valued at US$ 6,063.85 million in 2019 and is projected to reach US$ 8,415.04 million 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027.
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Novartis Ag, Johnson & Johnson Services, Inc., Glaxosmithkline Plc., Bayer Ag, Mylan N.V., Boehringer Ingelheim International Gmbh, Hisamitsu Pharmaceutical Co.,Inc., Luye Pharma Group, Purdue Pharma L.P., and Lavipharm are among the leading companies operating in the transdermal drug delivery system market.
Based on the type, the global transdermal drug delivery system market is segmented into transdermal patches and transdermal semisolids. The transdermal patch segment is further sub segmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and micro needle patches. The transdermal semisolids segment is further sub segmented into gels, ointments, and sprays. The transdermal patches segment held the largest share of the market in 2019 and the same segment is estimated to register the highest CAGR in the market during the forecast period owing to the advantages such as better patient compliance, faster onset of action, and improved permeability and efficacy. Moreover, increasing research and development activities in order to validate the feasibility of transdermal patches for treatment of new diseases is likely to boost the new product introduction, which will further driving the growth of the market by 2027. For instance, in October 2019, Noven Pharmaceuticals, Inc., a subsidiary of Hisamitsu Pharmaceutical Co., Inc., got FDA approval for SECUADO (asenapine) Transdermal System. The newly launched and approved system is intended to treat schizophrenia.
In particular, it is used when there is a significant first-pass effect of the liver that can impulsively metabolize drugs. Transdermal delivery also has advantages over hypodermic injections, which are painful, create dangerous medical waste, and pose the risk of disease transmission by needle re-use, especially in developing countries. Additionally, transdermal systems are non-invasive and can be self-administered. Patient compliance has been found to be much higher when administrated by non-invasive routes due to decreased pain involved in drug delivery. Therefore, these techniques are considered a preferred mode of drug delivery, thereby driving the market growth in the review period.
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The transdermal drug delivery system market is expected to grow owing to factors such as increasing prevalence of chronic diseases, growing demand for non-invasive drug delivery devices, and high demand for self-administration of drugs. However, high cost involved in the development of drug delivery systems along with drug failure and recalls of transdermal drug delivery systems are likely to restraint the growth of the market during the forecast years.
Transdermal Drug Delivery System Market – By Type
Reservoir Membrane Patches
Transdermal Drug Delivery System Market – By Application
Central Nervous System Disorders
Transdermal Estrogen Therapy
Testosterone Replacement Therapy
Transdermal Drug Delivery System Market – By End User
Hospitals and Clinics
Home Care Settings
Other End Users
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