Transdermal patch is a pharmaceutical paste patch that is positioned on the skin to transport a special amount of medicine through the skin into the blood circulation hence make it non- invasive way of drug delivery. Global transdermal drug delivery market was estimated at USD 22.0 Billion in 2010 and reached to at USD 32.0 Billion in 2015, registering a compound annual growth rate (CAGR) of 8.0%.
“Global Transdermal Drug Delivery Market Analysis & Opportunity Outlook 2021”
The global transdermal drug delivery market is segmented into application such as cardiovascular, central nervous system (CNS), hormone, pain management and others. Among these segments, cardiovascular segment is expected to flourish during the forecast period.
This rise of the cardiovascular segment is backed by number of factors such as increasing prevalence of cardiovascular diseases and growing advancements in medical science across the globe.
Global transdermal drug delivery market is expected to register 8.0% CAGR over the forecast period.
Moreover, the global transdermal drug delivery market was valued at USD 32.0 Billion in 2015 and is expected to reach at notable revenue by the end of 2021. The market is expected to expand on the back of rising patient’s inclination towards non-invasive drug administration system and increasing demand for self-administration drug delivery devices.
The Asia Pacific segment by region is likely to grow at remarkable pace during the forecast period. A number of factors such as large pool of patients, high prevalence of chronic diseases and improving healthcare infrastructure are some major factors which are expected to bolster the growth of Asia Pacific transdermal drug delivery market in near future.
Advancements in Medical Science
Transdermal drug delivery systems are equipped with new characteristics such as non-invasive drug delivery process, increased bio-availability of drugs, termination of therapy is easy at any point of time and others beneficial characteristics. Further, increasing use of non-invasive drug delivery system is anticipated to fuel the demand for transdermal drug delivery system.
Rise in Prevalence of Long-Term Diseases
Number of patients suffering from diabetes is increasing especially in Asia Pacific. Further, increasing demand for non-invasive drug delivery system by diabetic patients is likely to foster the growth of transdermal drug delivery market in near future.
Furthermore, the demand for transdermal drug delivery system is expected to increase due to its convenience and painless operation over conventional drug delivery system. Although, high cost of the product, lack of awareness amongst the population in the developing and under-developed countries and availability of various alternatives in the market are some of the factors that are expected to hinder the growth of the Transdermal Drug Delivery Market during the forecast period.
The report titled “Global Transdermal Drug Delivery Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global transdermal drug delivery market in terms of market segmentation by application, by technology and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global transdermal drug delivery market which includes company profiling of ANI Pharmaceuticals Inc., Antares Pharma Inc., Bayer AG, Janssen Pharmaceuticals Inc., Novartis AG, Medherant Limited., Zosano Pharma, Nitto Denko Corp., Acrux Limited and Janssen Pharmaceuticals, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global transdermal drug delivery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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