Transdermal Drug Delivery Systems Market could be worth US$ 51,949.74 Mn by 2030, says The Insight Partners

According to our latest study on "Transdermal Drug Delivery Systems Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis" the market is expected to grow from US$ 37,230.28 million in 2022 and is expected to reach US$ 51,949.74 million by 2030; it is anticipated to record a CAGR of 4.3% from 2022 to 2030. The report highlights the key factors driving the transdermal drug delivery systems market growth and prominent players with their developments in the market.

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Transdermal drug delivery systems are dosage forms actively used to deliver a therapeutically effective amount of drug across a patient's skin. It is a type of medicated adhesive patch that is placed on the skin to deliver a specific dose of medication through the skin and into the bloodstream. Transdermal drug delivery systems deliver the drug at a controlled rate to the systemic circulation.

Based on product, the transdermal drug delivery system market is segmented into transdermal patches, transdermal gels, transdermal sprays, and others. The transdermal patch segment is further segmented into drug-in-adhesive patches, reservoir membrane patches, matrix patches, and vapor patches. The transdermal patches segment held the largest share of the market in 2022, while transdermal gels is anticipated to register the highest CAGR during 2022-2030. A transdermal patch is a drug delivery system attached to a patient's skin to deliver medication through the skin. The transdermal drug delivery system market, by application, has been segmented into cardiovascular diseases, central nervous system disorders, hormonal applications, pain management, and other applications. The market for the pain management segment is sub-segmented into opioid application and non-opioid application.

The market for hormonal application segment is further segmented into transdermal estrogen therapy and testosterone replacement therapy. The pain management segment held the largest share of the market in 2022. The central nervous system disorders segment is expected to register the highest CAGR in the market during 2022-2030. Based on the distribution channel, the transdermal drug delivery system market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2022. However, the retail pharmacies segment is expected to register the highest CAGR in the market during 2022-2030.

Novartis AG, Johnson & Johnson, GSK Plc, Viatris Inc, Boehringer Ingelheim International GmbH, Luye Pharma Group Ltd, Hisamitsu Pharmaceutical Co Inc, Lavipharm SA, Purdue Pharma LP, and UCB SA are among the leading companies operating in the global Transdermal Drug Delivery Systems market.

Companies operating in the transdermal drug delivery systems market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the transdermal drug delivery systems market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall transdermal drug delivery systems market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

A few of the significant developments by key market players are listed below.
• In October 2023, Novartis completed the Spin-off of Sandoz, its Generics and Biosimilars business. Novartis executed the separation of the Sandoz business to create an independent company by way of a 100% Spin-off.
• In December 2022, Luye Pharma Group held an offline product launch conference in Shanghai, together with an online event, to announce the launch of Ruoxinlin (Toludesvenlafaxine Hydrochloride Extended-Release Tablets) in China. Ruoxinlin is China's first-class 1 innovative chemical drug independently developed locally for the treatment of Major Depressive Disorder (MDD) and protected by intellectual property rights. The drug provides a powerful new option for patients, bringing the treatment of MDD to a new level.
• In February 2021, Luye Pharma Group announced that its subsidiary Luye Pharma Switzerland AG has entered into an agreement with Towa Pharmaceutical Co Ltd (Towa), the terms of which grant Towa exclusive rights to the development and commercialization of Rivastigmine Multi-Day Transdermal Patch (Rivastigmine MD) in Japan. Rivastigmine MD, created by Luye Pharma, uses a cutting-edge drug delivery technology through twice-weekly transdermal application to treat Alzheimer's disease. A number of foreign patents have been applied for and granted to Luye Pharma to protect this product. Rivastigmine MD is presently in the registration stage in Europe and will soon begin phase III clinical research there. The deal states that Luye Pharma has given Towa exclusive rights to create and market Rivastigmine MD in Japan.
• In January 2021, Luye Pharma Group held a press conference to announce the launch of its Rivastigmine Transdermal Patch in China. The medication is approved for the treatment of mild to moderate Alzheimer's disease and should be used topically once daily. The company's German affiliate Luye Pharma AG, created the item using its unique transdermal patch technology. In addition to China, the United States, 11 nations in Europe, Thailand, and other nations have all sold Rivastigmine Transdermal Patch by Luye Pharma AG.
• In December 2019, Hisamitsu Pharmaceutical Co. Inc launched HARUROPI TAPE, a transdermal Parkinson's disease treatment patch in Japan, on December 17, 2019, following the National Health Insurance (NHI) drug price listing on November 19, 2019.

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