Global Transdermal Drug Delivery Systems Market Size study & Forecast, by Technology (Electroporation, Radio Frequency, Iontophoresis, Microporation , Thermal, Mechanical arrays, Ultrasound, Others) by Application (CNS, Pain Management, Cardiovascular, Ho

Global Transdermal Drug Delivery Systems Market Size study & Forecast, by Technology (Electroporation, Radio Frequency, Iontophoresis, Microporation , Thermal, Mechanical arrays, Ultrasound, Others) by Application (CNS, Pain Management, Cardiovascular, Hormone, Immunological, Metabolic, Gastrointestinal, Infection, Cancer, Others) and Regional Analysis, 2023-2030

Global Transdermal Drug Delivery Systems Market is valued approximately at USD 59.16 billion in 2022 and is anticipated to grow with a growth rate of more than 11.90% over the forecast period 2023-2030. Transdermal drug delivery systems are a devices for administering medications through the skin, allowing drugs to be absorbed into the bloodstream directly from the application site. These systems typically involve the use of patches or topical formulations containing the drug, which gradually releases the medication over time. Transdermal delivery offers several advantages, including sustained release of drugs, improved patient compliance, avoidance of gastrointestinal degradation, and reduced risk of side effects compared to oral administration. The Transdermal Drug Delivery Systems market is expanding because of factors such as increasing incidence of chronic diseases, growing Geriatric Population and cohesive government initiatives promoting the development and use of transdermal drug delivery systems.

The increasing prevalence of chronic conditions such as cardiovascular diseases, diabetes, and pain-related disorders has boosted the demand for sustained and controlled drug delivery, which transdermal patches can provide. Thus, rising prevalence of chronic disease is driving the market growth. The International Diabetes Federation stated that India has an anticipated 74,194.7 thousand cases of diabetes in 2021, and that figure is expected to increase to 92,973.7 thousand cases by 2030. Furthermore, the Robert Wood Johnson Foundation reports that there were 157 million cases of chronic illness in the United States in 2020, with an expected rise to 171 million cases by 2030. Furthermore, International Agency for Research on Cancer (IARC), estimated that by year 2040 there would be around 27.5 million new cases across the globe from 1.9 million new cases in year 2021. In addition, Ongoing research and development activities and rising investment in healthcare industry are some factors creating new opportunities to the market growth. However, availability of alternatives systems stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Transdermal Drug Delivery Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share. The expansion of this region's market is primarily propelled by the expiration of patents, leading to an influx of new companies. Furthermore, the repositioning of previously unsuccessful drugs, the reformulation of existing compounds, and substantial investments from both established and emerging market participants have notably contributed to the significant market presence in this region. Asia Pacific is expected to grow significantly with fastest CAGR during the forecast period. This trend can be attributed to the increasing healthcare expenditure and the swift evolution of healthcare infrastructure. Furthermore, the expansion is fueled by the elevated focus on research and development and the rising awareness in emerging economies like China and India.

Major market player included in this report are:
Novartis AG
Johnson & Johnson
Mylan Pharmaceuticals, Inc.
Boehringer Ingelheim GmbH
Hisamitsu Pharmaceutical co. Inc
3M Company
Noven Pharmaceuticals, Inc.
4P Therapeutics, LLC
Grünenthal GmbH
AbbVie Inc

Recent Developments in the Market:
 In September 2023, Satio achieved a significant milestone in its journey with funding from ARPA-H. This investment underscores the company's focus on advancing SatioRx, a pioneering transdermal drug delivery device tailored for home use and remote management.
 In September 2022, Biomind Labs and Queen’s University of Belfast obtained a controlled substances license, paving the way for the initiation of production for an innovative transdermal drug delivery system.

Global Transdermal Drug Delivery Systems Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Technology, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Technology:
Electroporation
Radio Frequency
Iontophoresis
Microporation
Thermal
Mechanical arrays
Ultrasound
Others

By Application:
CNS
Pain Management
Cardiovascular
Hormone
Immunological
Metabolic
Gastrointestinal
Infection
Cancer
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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