IMARC Group has recently released a new research study titled “Transdermal Drug Delivery Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the transdermal drug delivery systems market?
The global transdermal drug delivery systems market size reached US$ 6.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
What is transdermal drug delivery system?
Transdermal drug delivery systems (TDDS) are self-contained dosages that administer biological active agents and cosmeceuticals through the patient’s skin at a predetermined amount. They use appendageal, transcellular, and intercellular as three main routes for drug penetration. TDDS offer painless delivery with prolonged therapeutic effects, improved bioavailability, even plasma levels, and lesser side effects.
Consequently, TDDS are utilized as an effective alternative to subcutaneous, oral intravascular, and transmucosal routes for pain management and treatment of various ailments. At present, TDDS mainly include scopolamine, nicotine, nitro-glycerine, and lidocaine as standard drugs.
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Transdermal Drug Delivery Systems Industry Trends and Growth Drivers:
The increasing prevalence of chronic, cardiovascular, and central nervous system disorders and the rising need for self-administration drug delivery systems are majorly driving the market growth. Furthermore, the widespread adoption of transdermal patches across the healthcare sector to treat diabetes is supplementing the product demand in the market. Moreover, growing awareness amongst patients regarding various benefits of transdermal patches, such as enhanced convenience and bioavailability with reduced dosing frequency and adverse effects, is favoring the market growth.
Additionally, the advent of mHealth and homecare settings and the shifting preference toward transdermal drug delivery, due to their heightened drug diffusion capabilities and pain-free medication administration, are creating a positive outlook for the market.
Besides this, the large-scale integration of microneedles or mechanical arrays, pressure-sensitive adhesives, and permeation enhancers in transdermal patches and ongoing research and development (R&D) activities are positively stimulating the market growth.
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Competitive Landscape with Key Players:
Major Players Covered:
- 3M Company
- Acrux Limited
- Boehringer Ingelheim International GmbH
- Hisamitsu Pharmaceutical Co. Inc.
- Lavipharm S.A.
- LEAD CHEMICAL Co. Ltd.
- Luye Pharma Group
- Nutriband Inc.
- Viatris Inc.
Market Segmentation:
Breakup by Technology:
- Electroporation
- Radiofrequency
- Iontophoresis
- Microporation
- Thermal
- Mechanical Arrays
- Ultrasound
- Others
Breakup by Application:
- Central Nervous System
- Pain Management
- Cardiovascular
- Hormone
- Others
Geographical Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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