Transdermal Drug Delivery Systems Market Size/Share Envisaged To Grow USD 40.01 Billion By 2032, at 4.3% CAGR Growth: Polaris Market Research
The global transdermal drug delivery systems market size and share are currently valued at USD 27.42 billion in 2023. It is anticipated to generate an estimated revenue of USD 40.01 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.3% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032. The market is highly competitive owing to the existence of market players with a global presence, including Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Hisamitsu Pharmaceutical Co., Inc. and others.
New York, NY, March 11, 2024 (GLOBE NEWSWIRE) -- The latest research report [115+] pages with 360-degree visibility, titled “Transdermal Drug Delivery Systems Market Share, Size, Trends, Industry Analysis Report, By Type (Transdermal Patches, Transdermal Semisolids); By Technology; By Application; By Region; Segment Forecast, 2024- 2032" published by Polaris Market.
The global transdermal drug delivery systems market size and share are currently valued at USD 27.42 billion in 2023. It is anticipated to generate an estimated revenue of USD 40.01 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 4.3% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.
Market Definition
What is Transdermal Drug Delivery Systems? How Big is Transdermal Drug Delivery Systems Market Size & Share?
The transdermal drug delivery systems have become the most extensively probed avenue of non-invasive drug delivery into the body across the skin, not resembling traditionally utilized direct dispensing routes that utilize needle-dependent injections. TDDS has notably impacted the delivery of several therapeutic agents, particularly in pain management, hormonal therapy, and cure of illnesses of the cardiovascular and central nervous system. The rapidly rising demand for transdermal drug delivery systems market can be attributed to the fact that it does not include progress through the gastrointestinal tract thus there is no deprivation due to first-pass metabolism and drugs can be conveyed without intervention from pH, enzymes and intestinal bacteria.
The transdermal drug delivery systems market growth can be attributed to the growing significance of patient comfort and conformity. Transdermal blotches provide an appropriate option for oral medicines, especially advantageous for patients grappling with pill-consuming and intricate plans. By conveying medicines through the skin, blotches put an end to the requirement for injections and persistent dosing, offering a trouble-free methodology of drug administration. Additionally, blotches encourage superior patient conformity causing enhanced cure results and decreased healthcare prices.
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Transdermal Drug Delivery Systems Market Key Companies
3M Company
Bayer AG
Boehringer Ingelheim International GmbH
Dr. Reddy's Laboratories Ltd.
Endo Pharmaceuticals Inc.
GlaxoSmithKline plc
Hisamitsu Pharmaceutical Co., Inc.
Johnson & Johnson
MedPharm Ltd.
Mylan N.V.
Novartis International AG
Noven Pharmaceuticals, Inc.
Purdue Pharma L.P.
Teva Pharmaceutical Industries Ltd.
UCB S.A.
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Key Highlights
Growing significance of patient comfort and conformity is pushing the market towards expansion.
The transdermal drug delivery systems market analysis is primarily based on type, technology, application, and region.
North America dominated the market in 2023.
Market Developments
Transdermal Drug Delivery Systems Market Growth Drivers:
Growing detrimental illnesses: The growing pervasiveness of detrimental illnesses pushes the market growth. Detrimental situations such as cardiovascular illnesses, diabetes, and arthritis are growing familiar in globally demanding healthcare systems. The transdermal drug delivery systems market size is expanding as they provide an agreeable and efficacious methodology of medicine dispensation for these illnesses. Their capacity to offer regulated and perpetuated discharge of medicines over time is especially advantageous for handling detrimental illnesses needing constant remedy. Further, these systems enhance patient conformity and comfort as juxtaposed to conventional methods. With the decreased probability of ramifications and variations in drug levels, transdermal delivery improves the security and productivity of detrimental illness therapy.
Growing geriatric populace: The market is proliferating because of inflating geriatric populace worldwide. The transdermal drug delivery systems market sales are soaring as with aging arrives an escalated pervasiveness of detrimental illnesses such as diabetes, hypertension, and persistent pain among the elderly. Transdermal blotches offer an agreeable option, conveying medicines instantly through the skin, avoiding the gastrointestinal tract, and decreasing ramifications. These procedures are especially advantageous for the aged who grapple with consuming pills and handling several medicines. Further, transdermal systems offer regulated, ongoing medication emancipation, warranting stable indicator solace. As the geriatric population continues to grow, the stipulation for inventive drug delivery systems such as transdermal blotches is anticipated to rise.
Transdermal Drug Delivery Systems Industry Trends:
Transdermal drug delivery gadget: In September 2023, Satio acquired a USD 3.5 million pact to develop a transdermal drug delivery gadget for home use. This compact and economical gadget encompasses disposable microneedle constituents to guarantee precise drug delivery. It eases distant dispensation of an accurate, steady dosage of any liquid medicine consented to transdermal usage.
Technological progressions: Technological progressions in patch delineation are transfiguring the market. Microneedle patches provide effortless drug delivery into the bloodstream, enhancing assimilation rates and augmenting therapeutic likelihood. Progressive patch substances curtail skin annoyance, while consolidated smart technologies warrant immediate observation of drug delivery and patient wellbeing. In the transdermal drug delivery systems market, improvised manufacturing procedures escalate production coherence and adaptability, decreasing prices and enhancing convenience. These inventions make transdermal drug delivery systems more alluring to patients and healthcare donors, pushing the market growth.
Transdermal Drug Delivery Systems Market Restraints
Sizeable funding in time and resources: Administrative and conformity necessity notably impact the market. Mistakes by firms such as the FDA and EMA command meticulous testing to guarantee security, productivity, and standards prior to market consent. Negotiating the intricate administrative topography leads to provocations for manufacturers with differing needs covering regions. Conformity requires sizeable funding in time and resources involving preclinical and clinical attempts, administrative documentation, and conformance to Good Manufacturing Practices (GMP)
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Segmentation Overview
The Transdermal Patches Segment Witnessed a Sharp Rise
Based on type, the transdermal patches segment witnessed a sharp rise. The transdermal drug delivery systems market demand is on the rise as the patients learn them undemanding to use, encouraging conformity to cure systems. With regulated and constant drug emancipation, patches warrant secure applying curtailing ramifications. Their resourcefulness permits for delivery of several medicines indulging in manifold therapeutic requirements. As they pass around the gastrointestinal tract, patches decrease the comprehensive ramifications usual in oral medications. Further, they provide comfort by discarding the requirement for perennial dosing, which is particularly advantageous for the elderly.
The Iontophoresis Segment Dominated the Market
Based on technology, the iontophoresis segment dominated the market. The transdermal drug delivery systems market trends include utilization of a subordinate electric current, by which iontophoresis secures earmarked and regulated conveyance of medicines improving drug absorption through the skin. Its non-invasive character, including electrode application on the skin surface, aids patient solace and conformity. Further, iontophoresis provides resourcefulness in conveying several kinds of drugs covering therapeutic areas such as pain handling and dermatology. With tailored delivery descriptions and increasing clinical acquisition reinforced by scientific proof, iontophoresis encounters varied patient and healthcare donors, pushing its revenue share in the market.
Transdermal Drug Delivery Systems Market: Report Dynamics & Scope
Report Attribute | Details |
Revenue Forecast in 2032 | USD 40.01 Billion |
Market size value in 2024 | USD 28.55 Billion |
Expected CAGR Growth | 4.3% from 2024 – 2032 |
Forecast Year | 2024 – 2032 |
Top Market Players |
|
Segments Covered |
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Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Insights
North America: This region held the largest transdermal drug delivery systems market share due to developed healthcare frameworks, technological inventions, and escalated healthcare disbursement. The region's extensive patient populace with detrimental situations generates sizeable demands for these systems. Further, approving compensated schemes and the existence of principal market players additionally bring about its supremacy. Robust research associations between academia, industry, and government firms push inventions integrating North America's authoritative standing in the market.
Asia Pacific: This region experienced notable growth because of growing healthcare disbursement and growing consciousness. Technological progressions in nations such as South Korea, Japan, and China push invention. The proliferating pharmaceutical industry in the region, together with government enterprise to enhance healthcare framework and access to inventive cures, additionally contributes to market development.
Browse the Detail Report “Transdermal Drug Delivery Systems Market Share, Size, Trends, Industry Analysis Report, By Type (Transdermal Patches, Transdermal Semisolids); By Technology; By Application; By Region; Segment Forecast, 2024- 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/transdermal-drug-delivery-systems-market
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Key Questions Addressed in the Report:
What is the expected industry size of the transdermal drug delivery systems market?
Ans: The market size will be worth USD 40.01 billion by 2032.
Who are the top market players?
Ans: Some of the top market players are Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, and Hisamitsu Pharmaceutical Co., Inc.
Which region contributes notably towards the market?
Ans: North America contributes notably towards the transdermal drug delivery systems market.
What will be the expected CAGR of the market during the forecast period?
Ans: The expected CAGR of the market during the forecast period is 4.3%.
Polaris Market Research has segmented the Transdermal Drug Delivery Systems market report based on type, technology, application, and region:
By Type Outlook
Transdermal Patches
Transdermal Semisolids
By Technology Outlook
Iontophoresis
Electroporation
Ultrasound
Mechanical arrays
Others
By Application Outlook
Pain Management
Hormonal Applications
Cardiovascular Diseases
CNS Disorders
Others
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea, Australia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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