Growth Boosting Factors:
Market growth is largely driven by the global increase in the prevalence of chronic diseases. In addition, technological advancements in transdermal drug delivery systems are also expected to support market growth in the coming years.
Expected Revenue Surge:
The transdermal drug delivery systems market is expected to reach USD 7.1 billion by 2023 from an estimated USD 5.7 billion in 2018, at a CAGR of 4.5% during the forecast period.
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The pain management segment is expected to account for the largest share of the market in 2018
On the basis of application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications (smoking cessation, motion sickness, and overactive bladder treatment). In 2018, the pain management segment is expected to account for the largest share of the transdermal drug delivery systems market. Growth in this market is largely driven by the high burden of chronic pain worldwide and the growing availability of transdermal products for pain management.
The transdermal patches segment is expected to grow at the highest CAGR during the forecast period
On the basis of type, the transdermal drug delivery systems market is segmented into transdermal patches and transdermal semisolids. In 2018, the transdermal patches segment is expected to account for the larger share of the transdermal drug delivery systems market. This drug delivery system offers several advantages, such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch. Also, the use of patches results in increased patient compliance due to their non-invasive nature and painless application. These factors are expected to drive market growth.
North America to dominate the transdermal drug delivery systems market in 2018
North America is expected to dominate the transdermal drug delivery systems market in 2018. The large share of the North American transdermal drug delivery systems market can primarily be attributed to the rising prevalence of targeted diseases (such as chronic pain, central nervous system disorders, and cardiovascular diseases) in the region, the increasing use of contraceptives, and the increasing number of research activities related to transdermal drug delivery systems.
The key players in the transdermal drug delivery systems market are Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), GlaxoSmithKline (UK), Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).
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The Transdermal Drug Delivery System Market 2021 research report gives emerging industry data, global segments and regional outlook.
This report covers up all details such as size, share, value, growth, restraints, and opportunities for the year 2020 to 2027.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the transdermal drug delivery system market include 3M Company, 4P Therapeutics, LLC, Biogel Technology, Inc., BoehringerIngelheim GmbH, Echo Therapeutics, Inc., Johnson & Johnson, Mylan Pharmaceuticals, Inc., Novartis AG, Noven Pharmaceuticals, Inc., Skyepharma PLC, Transdermal Corp, Transdermal Technologies, Inc. and Watson Pharmaceuticals, Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Transdermal Drug Delivery System Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/transdermal-drug-delivery-system-market/download-sampleMarket DynamicsRising incidence of chronic diseases, with a growing interest in the development of novel drugs and delivering system, is driving the market growth.
Advantages such as longer drug effect, lesser side effects, painless drug delivery and low risk of infection transmission are further boosting the adoption of transdermal drug delivery system.
Transdermal drug delivery systems market is forecasted to cross $60 billion in size by 2023, according to P Market Research.the growth in the market is expected to be driven by the surge in geriatric population, rise in number of patients suffering from neurovascular disorders and high prevalence of various chronic diseases, across the globe.
Transdermal drug delivery systems are used for various applications such as analgesics, hormone replacement therapy, hypertension, cardiovascular disorders, motion sickness, smoking cessation and others.
The hormone replacement therapy category is expected to grow at a CAGR of 10% during the forecast period, since these delivery systems are effective and an easiest way of preventing and managing post-menopausal symptoms.Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/transdermal-drug-delivery-systems-market/report-sampleThe use of the transdermal patches is the highest in North America, owing to heavy expenditure by the government on healthcare and supportive reimbursement policies and is further followed by the Europe and APAC, respectively.
The market for transdermal drug delivery systems is expected to observe the fastest growth on demand during the forecast period in APAC.
This growth in the region is attributable to the improvement in healthcare infrastructures and rise in the healthcare expenditures in developing countries such as China and India, to cater to the unmet medical needs.
Further, technological advancements to develop cost-effective technologies in these nations offer a lucrative opportunity for the market growth.Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=transdermal-drug-delivery-systems-marketThe key players in the transdermal drug delivery systems market are acquiring other players to enter in the new business and to launch advanced products to increase their market share.
