Transdermal Drug Delivery Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Transdermal Drug Delivery Devices - Market Insights, Competitive Landscape and Market Forecast-2026

Transdermal Drug Delivery Devices Market By Type (Drug-In-Adhesive Patches, Matrix Patches, Reservoir Membrane Patches, Microneedle Patches), Application (Pain Management, Hormonal Applications, Central Nervous System Disorders, Cardiovascular Diseases And Others), By End User (Hospitals, Ambulatory Surgical Centers, And Others), by geography is expected to grow at a steady CAGR forecast till 2026 owing to the rising prevalence observed in chronic conditions and the increasing demand for third-generation transdermal drug delivery devices

Global Transdermal Drug Delivery Devices Market is growing at a CAGR of 9.8% during the forecast period from 2021 to 2026. The demand for Transdermal Drug Delivery Devices is primarily witnessing growth on account of increasing prevalence of chronic conditions, increase in adoption of third-generation transdermal drug delivery devices, technological advancements observed in the device and the use of these devices from hormonal disorders to cardiovascular conditions and pain management.

Transdermal Drug Delivery Devices Market Dynamics:

The increase in prevalence of chronic conditions such as cardiovascular diseases and central nervous system disorders is the major driving factor for transdermal drug delivery devices market. According to the Heart Disease Facts 2020, about 18.2 million adults that are 20 and above are suffering from Coronary Artery Disease (about 6.7%). Also, about 2 in 10 deaths that occur from Coronary Artery Disease happen in adults less than 65 years of age. According to the Heart Disease and Stroke Statistics, 2020 Update, the age-adjusted death rate attributable to cardiovascular disease based on 2017 data was 219.4 per 100,000. Due to the increase in chronic conditions such as cardiovascular diseases, there will be an increase in demand observed for transdermal drug delivery device, thereby fueling the market for transdermal drug delivery devices.

According to the Alzheimer’s disease International 2020, there are more than 50 people worldwide that were suffering from dementia in the year 2020. The numbers is expected to double in every 20 years, reaching 82 million in 2030 and 152 million in 2050. Due to an increase observed in chronic diseases such as central nervous system disorders, there will be an increase in demand observed for transdermal drug delivery device, thereby fueling the market for transdermal drug delivery devices.

According to the Migraine Research Foundation, in 2020, migraine accounts to be the third most prevalent illness in the world. It is an extraordinarily prevalent neurological disease, affecting 39 million men, women and children in the U.S. and 1 billion worldwide. The increasing prevalence of migraine and other diseases will increase the need of transdermal drug delivery devices in the market, thus giving a boost to the market in this arena.

However, certain disadvantages associated with the transdermal drug delivery devices such as irritation at the site of application and edema and certain drugs carrying hydrophilic structures tend to penetrate the skin slowly and do not achieve actual therapeutic levels. These factors are expected to limit the market growth over the forecast period.

Transdermal Drug Delivery Devices Market Segment Analysis:

Transdermal Drug Delivery Devices Market by Type (Drug-In-Adhesive Patches, Matrix Patches, Reservoir Membrane Patches, Microneedle Patches), Application (Pain Management, Hormonal Applications, Central Nervous System Disorders, Cardiovascular Diseases and Others), Transdermal Drug Delivery Devices Market by End User (Hospitals, Ambulatory Surgical Centers, and Others) and Transdermal Drug Delivery Devices Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the application segment of Transdermal Drug Delivery Devices Market, pain management can be expected to achieve the largest market share. The reason for this attributes to the rising burden of chronic pain conditions worldwide and the rising availability of transdermal products in the field of pain management.

According to the Chronic Pain and High-impact Chronic Pain among U.S. Adults, 2019 statistics by National Center for Health Statistics, in the year 2019, 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently limited life or work activities (referred to as high impact chronic pain) in the past 3 months. Chronic pain and high-impact chronic pain both tend to increase with age and were assumed to be the highest among adults which were 65 years and older. Overall, the prevalence observed for chronic pain was 20.4%, and the prevalence of high-impact chronic pain was 7.4%. The rise in prevalence of chronic pain conditions will demand for more transdermal drug delivery devices for the management of pain, thereby fueling the Transdermal Drug Delivery devices market.

North America is expected to dominate the Overall Transdermal Drug Delivery Devices Market:

Among all the regions, North America is expected to account for the largest share in the transdermal drug delivery devices market. This can be attributed to the rising prevalence of chronic pain, central nervous system disorders and cardiovascular disorders in the region, rising use of contraceptives and the increase in research related activities of transdermal drug delivery systems are predicted to be the major influencing factors in driving the overall growth of the market over the forecast period.

According to the Chronic Pain and High-impact Chronic Pain among U.S. Adults, 2019, by National Center for Health Statistics, the prevalence of chronic pain was 20.4%, and the prevalence of high-impact chronic pain was 7.4% (or 36.4% of adults who had chronic pain). Chronic pain was highest among women (21.7%), non-Hispanic white adults (23.6%), and those aged 65 and over (30.8%). High impact chronic pain was highest among women (8.5%) and those aged 65 and over (11.8%). Due to the rise in prevalence of chronic pain in North American region, the demand for transdermal drug delivery devices w high, leading to a boost in the transdermal drug delivery devices market.

According to the Heart Disease and Stroke Statistics-2020 Update, on an average a person is at the risk of stroke in every 40 seconds in United States. The age-adjusted death rate attributable to cardiovascular disease (CVD), based on 2017 data was 219.4 per 100,000. Due to the increase observed in cardiovascular conditions in the North American region, there is a high need for transdermal drug delivery devices, further causing a boost in the Transdermal Drug Delivery Devices market.

The prevalence of central nervous system disorders is also constantly on the rise. According to the Parkinson’s disease Statistics 2020, Parkinson’s disease is considered to be the second most common age-related neurodegenerative disorder after Alzheimer’s disease. About one million Americans are thought to have Parkinson’s. This is more than those affected by multiple sclerosis (MS), muscular dystrophy (MD), and amyotrophic lateral sclerosis (ALS) combined. Every year, about 60,000 Americans are diagnosed with Parkinson’s. The rise in the number of chronic conditions in North America can be thought of to cause a surge in the transdermal drug delivery market within this region.

Transdermal Drug Delivery Devices Market Key Players:

Some of the key market players operating in the Transdermal Drug Delivery Devices market includes Hisamitsu Pharmaceutical, Mylan, UCB SA, Novartis, GlaxoSmithKline, Boehringer Ingelheim, Johnson & Johnson, Endo International, Purdue Pharma, Bristol-Myers Squibb Company, Endo Pharmaceuticals Inc., Acrux Limited, Lavipharm, Lead Chemicals Co. Inc., Luye Pharma Group and others.

RECENT DEVELOPMENTAL ACTIVITIES IN TRANSDERMAL DRUG DELIVERY DEVICES MARKET:
• On December 07, 2020, Hisamitsu Pharmaceutical Co., Inc. had announced that the transdermal, pain treatment NSAID patch had achieved the primary endpoint of the LP03 study, Phase III clinical study for “low back pain” and the LP04 study, Phase III clinical study for “humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis” in Japan.
• On July 21, 2020, Hisamitsu Pharmaceutical Co., Inc. had announced that it has obtained approval of manufacturing and marketing for OABLOK® PATCH in Thailand.

Key Takes Away from the Transdermal Drug Delivery Devices Market Report Study

● Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)

● The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the market.

● Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

● Key companies dominating the Global Transdermal Drug Delivery Devices Market.

● Various opportunities available for the other competitor in the Transdermal Drug Delivery Devices Market space.

● What are the top performing segments in 2020? How these segments will perform in 2026.

● Which is the top-performing regions and countries in the current market scenario?

● Which are the regions and countries where companies should have concentrated on opportunities for market growth in the coming future?

Target Audience who can be benefited from the Transdermal Drug Delivery Devices Market Report Study

● Transdermal Drug Delivery Devices providers

● Research organizations and consulting companies

● Transdermal Drug Delivery Devices-related organization, association, forum, and other alliances

● Government and corporate offices

● Start-up companies, venture capitalists, and private equity firms

● Distributors and Traders

Various End-users who want to know more about the Transdermal Drug Delivery Devices Market and latest technological developments in the Transdermal Drug Delivery Devices market.

Frequently Asked Questions for Transdermal Drug Delivery Devices Market:

1. What is Transdermal Drug Delivery Devices?

The transdermal drug delivery is a procedure that provides drug absorption via the skin. The transdermal drug delivery system are used for delivery of small, lipophilic, low-dose drugs.

2. What is the market for Global Transdermal Drug Delivery Devices?

Global Transdermal Drug Delivery Devices Market is growing at a CAGR of 9.8% during the forecast period from 2021 to 2026.

3. What are the drivers for Global Transdermal Drug Delivery Devices?

The major drivers driving the demand for Transdermal Drug Delivery Devices are rising prevalence of chronic conditions, rising adoption of third-generation transdermal drug delivery devices, increase in technological advancements observed in the device and the use of these devices from hormonal disorders to cardiovascular conditions and pain management.

4. What are the key players operating in Global Transdermal Drug Delivery Devices?

Some of the key market players operating in the Transdermal Drug Delivery Devices market includes Hisamitsu Pharmaceutical, Mylan, UCB SA, Novartis, GlaxoSmithKline, Boehringer Ingelheim, Johnson & Johnson, Endo International, Purdue Pharma, Bristol-Myers Squibb Company, Endo Pharmaceuticals Inc., and others.

5. What regions has the highest share in Transdermal Drug Delivery Devices market?

North America is expected to dominate the overall Transdermal Drug Delivery Devices market during the forecast period, 2021 to 2026. This domination is due to the rising prevalence of chronic pain, central nervous system disorders and cardiovascular disorders in the region, rising use of contraceptives and the increase in research related activities of transdermal drug delivery systems in the North American region.

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