Infinium Global Research has added a new report on Transdermal Drug Delivery System Market. The report covers the analysis of global as well as regional markets of transdermal drug delivery system. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run.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.
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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.
Transdermal Drug Delivery System Market: Drivers, Restraints and Opportunities
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.
North America Dominates 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.
Transdermal Drug Delivery System Market: Segmentation
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.
Transdermal Drug Delivery System Market: Competitive Landscape
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, PantecBiosolutions AG, and Other Companies.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Transdermal Drug Delivery System.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.