A recent report published by Infinium Global Research on transdermal drug delivery system market provides in-depth analysis of segments and sub-segments in the global as well as regional transdermal drug delivery system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional transdermal drug delivery system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global transdermal drug delivery system market. According to the report, the global transdermal drug delivery system market is projected to grow at a CAGR of 4.3% over the forecast period of 2019-2025.
Transdermal drug delivery system is a novel drug delivery system designed to deliver a therapeutically effective amount of drug across a patient’s skin. They are self-contained, the discrete dosage of drug patches applied to the intact skin, to deliver the drug through the skin at a controlled rate to the systemic circulation. Transdermal drug delivery systems enable a steady blood level profile, resulting in reduced systemic side effects and improved efficacy over other dosage forms such as oral, topical, intravenous and intramuscular medications.
Globally, the population aged over 60 is growing faster than all younger age groups. Growing geriatric population and the rise of several chronic diseases among the elderly population is driving the growth of the transdermal drug delivery system market. Transdermal drug delivery system is used for drug delivery among elderly patients who struggle to swallow their pills or forget to take them regularly. In addition, the several benefits offered by transdermal drug delivery system such as enhanced safety, efficacy, and reduced inter and intrapatient variability increases the adoption of these systems in treating various chronic illnesses. Furthermore, the transdermal drug delivery system reduces the risk and inconveniences of parenteral therapy and the increased demand for minimal invasive therapies favors market growth. However, these patches are significantly expensive as compared to the conventional treatment methods and their low adoption in emerging markets restrains the growth of the transdermal drug delivery system market. Moreover, the increasing application of transdermal patches to deliver proprietary active pharmaceutical ingredients (APIs) and generic APIs creates growth opportunities for the transdermal drug delivery system market.
Geographically, North America dominates the transdermal drug delivery system market and is anticipated to remain dominant over the forecast period. The U.S is a key country that is driving the North America transdermal drug delivery system market. The growth in this region is mainly attributed to the high prevalence of chronic diseases and the growing elderly population. Besides this, people in this region have a high capacity in medical expenditure. Moreover, the presence of several transdermal drug delivery system manufacturers such as Noven Pharmaceuticals, Inc, Crescita Therapeutics Inc., Echo Therapeutics, Inc., 3M Drug Delivery Systems and several others in this region can further increase the revenue opportunity in this region. Europe is the fastest growing region in the transdermal drug delivery system market as Europe has 25 percent of the population aged 60 or over. In Europe, Germany and Italy has the highest number of the elderly population. The healthcare system in several European countries are regionally based national health service that provides universal coverage, with public healthcare free of charge at the point of service, which in turn provides growth opportunities for Europe transdermal drug delivery system market.
The report on global transdermal drug delivery system market covers segments such as product, application, and facility of use. On the basis of product, the sub-markets include transdermal patches, and transdermal gels. On the basis of application, the sub-markets include cardiovascular disease, central nervous system disorders, pain management, hormonal conditions, and other applications. On the basis of facility of use, the sub-markets include hospitals and clinics, homecare settings, and surgical centers.
The report provides profiles of the companies in the market such as Allergan plc, The 3M Company, Novartis AG, Biogel Technology, Inc., Echo Therapeutics Inc., Crescita Therapeutics Inc., Noven Pharmaceuticals, Inc., Vectura Group plc, Pantec Biosolutions AG, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of transdermal drug delivery system market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Get free analyst support for the queries before and post purchasing report.
Be assured of 100% customer satisfaction about the research and get 24X7 customer support.
Infinium has achieved over 400%+ growth in its repository and revenue over the last 2 years. Yes, we are proud to say we are growing at a great pace and becoming a trusted partner among our clients.
sign up for our newsletter