Transdermal Drug Delivery Market Report Up to 2031
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The market is majorly driven by the increasing prevalence of chronic diseases, where conventional drug delivery systems, such as oral drugs have lower potency due to the hepatic first pass metabolism.
Transdermal drug delivery systems are an alternative to oral intravascular, subcutaneous and intra-mucosal routes, wherein the drugs are delivered through the skin for therapeutic use.
COVID-19 Impact on Transdermal Drug Delivery Market
Transdermal Drug Delivery Market is growing well in the period of this pandemic COViD 19, because the patients who is having chronic diseases which is mentioned above need a treatment at their home itself because the threat of this pandemic restricts the patient to visit frequently to hospitals.
Rise in increase of chronic disorders and geriatric population-
- The rise in geriatric population poses risk for increase in incidence of diabetes. So aged people are more susceptible to type 2 diabetes, which are in the need of these medicines for their treatment, this in-turn will boost the growth of Transdermal Drug Delivery market.
- High occurrence of cardiovascular disorders such as hypertension makes it an attractive market for transdermal drug delivery systems.
- The market has witnessed development of new adhesive, molecular absorption enhancers, and penetration enhancers that are expected to enhance skin permeability, resulting expansion therange of drugs that are expected to be delivered through transdermal route. This enables the growth of the market.
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Global Transdermal drug delivery market is highly fragmented and the major players have implemented various strategies such as new product launches, expansions, agreements, joint ventures, partnerships,acquisitions and others to increase their footprints in this market. Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), GlaxoSmithKline (UK), Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).
• Hisamitsu is a leading company in the field of medicines for external use. The company is aninventor in the field of transdermal patches. For instance, in 2017, the firm spent over USD 14.0 million compared to USD 12.8 million in 2016 on R&D activities.
• Mylan is among the leading players in the transdermal drug delivery systems market. The company endeavours to design, develop, and manufacture high-quality, innovative transdermal drug delivery systems, such as adhesive patches. These medicines treat a variety of conditions across several therapeutic categories. In order to strengthen its position in the market, the company significantly invests in R&D activities. In 2017, the company invested USD 783.3 million in R&D accomplishments to invent and introduce new products in the market as compared to USD 826.8 million in 2016.
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