Press release
Transdermal Drug Delivery Systems Market Worth $87.32 Billion by 2030
The rise in global geriatric population has significantly increased the demand for efficient and effective drug delivery systems. Furthermore, changing work culture and lifestyle across the globe has significantly increased the number of patients suffering from chronic diseases such as heart diseases, diabetes, and arthritis. In addition, advancements in transdermal drug delivery systems have enabled in use for delivery a wide range of medicines. Also, major companies in the industry are focused on development of more advanced and efficient transdermal drug delivery systems.
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.
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.
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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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The report segments the global transdermal drug delivery systems market on the basis of type of delivery system, application, and region.
Based on type of delivery system, the passive segment held the largest share in 2020, accounting for nearly three-fifths of the market. However, the active segment is projected to register the highest CAGR of 5.6% during the forecast period.
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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