Press release
Transdermal Drug Delivery Systems Market Size to Surpass USD 87.32 Bn by 2030 | Viatris Inc., Hisamitsu Pharmaceutical Co. Inc., Boehringer Ingelheim GmbH, Endo International plc.
Transdermal drug delivery systems are medical patches that deliver drugs through the skin to treat various conditions such as pain, hypertension, and hormonal imbalances.
The market is segmented based on type, application, and region. By type, the market is classified into matrix patches, reservoir patches, and others. By application, the market is categorized into pain management, hormone replacement therapy, cardiovascular diseases, neurological disorders, and others.
North America dominates the market due to the high prevalence of chronic diseases, the presence of major pharmaceutical companies, and the availability of advanced healthcare infrastructure.
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According to a new Allied Market Research Reports study, 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%.
Market Segmentation:
By Type:
Passive
Active
By APPLICATION:
Analgesics
Hormone Replacement Therapies
Hypertension
Motion Sickness
Smoking Cessation
Others
By Region:
Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
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Regional Growth Dynamics:
North America dominated the global transdermal drug delivery systems market, in terms of revenue, accounting for around 41% share of the transdermal drug delivery systems industry, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific region is growing with high CAGR, owing to rise in healthcare spending and efficiency of transdermal drug delivery systems.
Competitive Landscape:
3M Company
Novartis International AG
Johnson & Johnson Services, Inc.
Mylan N.V.
Bayer AG
Boehringer Ingelheim International GmbH
GlaxoSmithKline plc
Hisamitsu Pharmaceutical Co., Inc.
Teva Pharmaceutical Industries Ltd.
UCB S.A.
Recent developments:
Partnership and collaboration: In February 2021, Mylan N.V. announced a collaboration with Fujifilm Kyowa Kirin Biologics Co., Ltd. to commercialize a biosimilar of adalimumab, a drug used to treat autoimmune diseases, using a transdermal drug delivery system.
Technological advancements: In December 2022, researchers from the University of California, Los Angeles (UCLA) developed a skin patch that can measure glucose levels in people with diabetes and deliver insulin in response to changes in glucose levels.
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