Transdermal Drug Delivery Systems Market Size, Share & Trends Analysis Report By Technology (Electroporation, Iontophoresis, Ultrasound), By Application (Pain Management, CNS, Hormone), By Region, And Segment Forecasts, 2023 - 2030

Transdermal Drug Delivery Systems Market Size, Share & Trends Analysis Report By Technology (Electroporation, Iontophoresis, Ultrasound), By Application (Pain Management, CNS, Hormone), By Region, And Segment Forecasts, 2023 - 2030

Transdermal Drug Delivery System Market Growth & Trends

The global transdermal drug delivery system market is expected to reach USD 145.0 billion by 2030, registering a CAGR of 11.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing adoption of transdermal patches, such as in the case of diabetes, which requires sustained and a daily dose of insulin is expected to provide the market with growth opportunities during the forecast period.

High demand for pain-free drug delivery is a major driving factor of the transdermal drug delivery systems market. In the case of diabetes, insulin has to be administered into the patient's body with the help of injections on a continuous basis. Continuous usage of injections to deliver insulin causes pain and increases the risk of transmission of chronic diseases, thus, making transdermal patches a better choice for delivering insulin in diabetic patients.

COVID-19 led to a significant fall in sales of transdermal drug delivery systems. This is because most of these drugs are prescribed drugs and the pandemic led to a sharp fall in patient visits to healthcare facilities. Factors such as lockdowns and travel restrictions led down by the government, to curb the spread of the virus, resulted in reduced patient visits. In addition, many individuals in order to avoid physical contact also avoided visiting healthcare facilities, as a precautionary measure.

However, with the world moving towards normalcy and various pharma companies focusing on developing new novel products, the market represents great opportunities for growth. Moreover, increasing investments by the government in R&D and healthcare are further accelerating the demand for transdermal drug delivery systems in the market.

Transdermal Drug Delivery System Market Report Highlights

• The iontophoresis segment dominated the market in 2022 owing to its efficacy in delivering drugs. The mechanical arrays segment is expected to maximum growth due to the increasing number of product launches
• The pain management segment accounted for the highest market share in 2022 due to increasing demand for transdermal patches used for pain management
• The cardiovascular segment is anticipated to experience maximum growth during the forecast period due to the increasing utilization of these systems in the treatment of cardiovascular diseases
• North America accounted for the highest market share in 2022 owing to a rise in investments by existing as well as new market players
• Increasing healthcare expenditure and huge investments in research and development represent lucrative growth opportunities in the Asia Pacific region