Press release
Transdermal Drug Delivery Systems Market Size to Surpass USD 87.32 Bn by 2030 at Sustained CAGR of 4.9% | Johnson & Johnson, GlaxoSmithKline plc, Novartis AG, Viatris Inc., Boehringer Ingelheim.
Key Takeaways:
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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Market Drivers:
Rising prevalence of chronic diseases: The growing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is one of the major drivers of the transdermal drug delivery systems market. These medical patches are often used to deliver drugs for pain management, hormone replacement therapy, and other chronic conditions.
Advantages of transdermal drug delivery systems: Transdermal drug delivery systems offer several advantages over other drug delivery methods, including improved patient compliance, better pharmacokinetics, reduced side effects, and improved efficacy.
Growing geriatric population: The aging population is a key driver of the transdermal drug delivery systems market, as older adults are more likely to suffer from chronic conditions and may prefer non-invasive drug delivery methods.
Technological advancements in transdermal drug delivery systems: The development of new technologies such as microneedles, iontophoresis, and ultrasound-mediated drug delivery has improved the efficiency and effectiveness of transdermal drug delivery systems.
Increasing demand for non-invasive drug delivery methods: The trend towards non-invasive drug delivery methods is expected to drive the growth of the transdermal drug delivery systems market. Patients prefer non-invasive methods such as medical patches as they are less painful and more convenient than injections or oral medications.
Market Segmentation:
Type: The market can be segmented into matrix patches, reservoir patches, and others. Matrix patches are the most commonly used type of transdermal drug delivery systems and are used to deliver drugs that are soluble in the adhesive layer. Reservoir patches have a separate drug reservoir and adhesive layer, allowing for the delivery of a wider range of drugs.
Application: The market can be segmented into pain management, hormone replacement therapy, cardiovascular diseases, neurological disorders, and others. Pain management is the largest application segment, accounting for a significant share of the market due to the high prevalence of chronic pain conditions. Hormone replacement therapy is another significant application segment due to the high demand for transdermal patches for the treatment of menopause-related symptoms.
Region: The market can be segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is the largest regional market, followed by Europe and Asia-Pacific. The high prevalence of chronic diseases, increasing geriatric population, and advanced healthcare infrastructure are driving the growth of the market in these regions.
End-user: The market can be segmented into hospitals & clinics, home care settings, and others. Hospitals & clinics are the largest end-user segment due to the high demand for transdermal drug delivery systems in the treatment of chronic diseases.
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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.
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2.3 Matrix Based Transdermal Patches
2.4 Vapor Patch
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