According to a new report published by K D Market Insights, titled, “Transdermal drug delivery system Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global transdermal drug delivery system market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing demand for convenient and non-invasive drug delivery methods. The transdermal drug delivery system offers several advantages, such as controlled and sustained release of medication, improved patient compliance, and reduced side effects which are the major factors augmenting the growth of the global transdermal drug delivery system market.
The increasing demand for non-invasive and patient-friendly drug delivery methods propels the adoption of transdermal drug delivery systems. These systems offer advantages such as controlled release of medication, improved patient compliance, and convenience in self-administration are further expected to create ample growth opportunities for the global transdermal drug delivery system market during the forecast period i.e., 2023-2032. Moreover, the technological advancements and innovations in transdermal drug delivery systems has propelled market expansion. Increasing geriatric population, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global transdermal drug delivery system market in 2022. The region is further projected to continue dominating in the market and also register the highest CAGR in the market during the forecast period. This can be attributed to the well-established healthcare infrastructure and a high prevalence of chronic diseases.
According to product, the transdermal patches segment accounted for the largest market share in the transdermal drug delivery system market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global transdermal drug delivery system market is segmented into product type, application, end user and region. Based on product type, the market is bifurcated into transdermal patches and transdermal semisolid formulations. Based on application, it is classified into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, other. Based on end user, it is classified into home care settings, hospitals & clinics.
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The global transdermal drug delivery system market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Transdermal drug delivery system Market
- On the basis of product, the transdermal patches segment accounted for the largest market share in the transdermal drug delivery system market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, North America accounted for the largest share in the global transdermal drug delivery system market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, Asia-Pacific is estimated to account for the second largest share in the market during the forecast period.
Some of the major transdermal drug delivery system companies profiled in the report include Hisamitsu Pharmaceutical Co., Inc., Mylan N.V., UCB S.A., Novartis AG, Glaxosmithkline PLC, Boehringer Ingelheim International GmbH, Johnson & Johnson (J&J), Endo International, Inc., Purdue Pharma L.P., Lavipharm, Lead Chemicals Co., Inc., and Luye Pharma Group.
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