Transdermal Drug Delivery Systems Market Expected to Reach $13.8 Billion by 2031 | Industry, Revenue & Trends Analysis

Surge in population across the world has given way to a steep increase in demand for geriatric medications and treatments. At the same time, the number of patient pool suffering from chronic syndromes such as arthritis, heart ailments, and diabetes has also amplified to a significant extent. These factors have escalated the adoption of transdermal drug delivery systems in more than one way.

The global transdermal drug delivery systems market generated $52.47 billion in 2020, and is expected to reach $87.32 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

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Increase in global population & geriatric medicine and rise in number of patients suffering from chronic diseases including heart diseases, arthritis, and diabetes have boosted the growth of the global transdermal drug delivery systems market. In addition, advancements in transdermal drug delivery systems would open new opportunities in the future.

Covid-19 scenario:

The Covid-19 pandemic negatively impacted the market due to prolonged lockdown. However, the pandemic increased the importance of government healthcare facilities and healthcare spending across the globe.

Decrease in number of Covid-19 cases led to reopening of transdermal drug delivery system research facilities, which will help the market get back on track.

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During the COVID-19 pandemic lockdown, various players in the transdermal drug delivery systems market reduced their business in countries, such as China, the U.S., and India owing to disruption of supply chain. This break directly impacted the transdermal drug delivery systems manufacturing companies. In addition, extensive focus of major countries on development of vaccines also negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to boost the transdermal drug delivery systems market growth.

On the basis of application, the analgesics segment held the largest share in 2020, contributing to around one-third of the market. However, the motion sickness segment is estimated to manifest the highest CAGR of 6.3% from 2021 to 2030.

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The global transdermal drug delivery systems market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2020, accounting for more than two-fifths of the market. However, market across Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.

The global transdermal drug delivery systems market includes an in-depth analysis of the prime market players such as Viatris Inc., Bayer AG, Boehringer Ingelheim GmbH, Endo International plc, GlaxoSmithKline plc., Johnson & Johnson, Novartis AG, Purdue Pharma L.P., Altaris, and Hisamitsu Pharmaceutical Co. Inc.

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