Rising awareness and an expansion in the allocation of budgets towards healthcare by the governments of different countries define lucrative growth prospects during the projection duration. North America emerged as the largest market for the global transdermal drug delivery systems market, with a 35.8% share of the market revenue in 2022. North America currently dominates the global market share due to the increasing majority of targeted diseases like central nervous system disorders, chronic pain, and cardiovascular diseases in this region.
Newark, March 01, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the transdermal drug delivery systems market will grow from USD 6.8 billion in 2022 and reach USD 11.18 billion by 2032. Transdermal drug delivery describes an extremely attractive and innovative route across the skin due to the possibility of achieving systemic effects of drugs. The present system requires a particular focus on developing safe medicine with minimized adverse toxic effects related to most pharmacologically active agents which is an upcoming opportunity for the market.
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Key Insight of Transdermal Drug Delivery Systems Market
North America to account for largest market size during the forecast period.
North America is expected to have the largest market share in the transdermal drug delivery systems market. The market growth in the North American region is due to increased spending on healthcare facilities and advancement in drug production in the United States and Canada; these factors push the regional development for the market during the projection years. Similarly, favorable reimbursement policies and increasing awareness by European government associations contribute to developing the region’s transdermal drug delivery system market. A well-developed healthcare structure that covers the individuals’ healthcare expenses facilitates more people choosing treatment in the region, which is anticipated further to push the market growth during the prediction time.
The patches segment accounted for the largest market share of 58% and market revenue of 3.9 billion in 2022.
The type segment is divided into semisolid formulations, and patches. The patches segment dominated the market, with a market share of around 58% and market revenue of 3.9 billion in 2022. The ease of use with adhesive patches makes transdermal patches more comfortable for patients to capitulate with the doctor’s orders and take their medicine as required.
The pain management segment accounted for the largest market share of 11% in 2022.
The application segment is divided into analgesics, pain management, smoking cessation, hypertension, CNS, hormone, central nervous system disorders, motion sickness, cardiovascular diseases, hormone replacement therapies, and others. The pain management segment dominated the market, with a market share of around 11% in 2022. Pain management is a crucial problem to solve with complex mechanisms. Localized acute pain requires fast and accurate delivery of drugs with less distribution in the blood circulation. In contrast, chronic pain requires the controlled release of drugs with a long drug retention time.
The hospital & clinics segment accounted for the largest market share of 56% and market revenue of 3.8 billion in 2022.
The end-user segment is divided into hospital & clinics, and home care settings. The hospital & clinics segment dominated the market, with a market share of around 56% and market revenue of 3.8 billion in 2022.
Advancement in market
In September 2022, Biomind Labs and Queen’s University of Belfast obtained a controlled substances license to begin the production of a novel Transdermal Drug Delivery Systems delivery system.
Market Dynamics
Drivers: Self-Administration
One of the vast advantages proposed by the system is the easy application of the patch and self-administration. It does not require expert personnel for its placement, as it’s the same case with the intravenous route. It is only necessary for the patient to stick to the transdermal patch in the prescribed area according to his therapeutic needs. It can be on the buttocks, abdomen, chest, upper torso, or upper outer arm. It is only required that the site of application should be intact (not injured or wounded), clean, accessible, oily, and hairless. Similarly, in cases of adverse reactions like irritation, itching, or erythema, removing the patch is necessary to stop drug delivery, which makes the system safe even when there is an intolerance to the administered API.
Restraints: Not all types of medications are suited in transdermal drug systems
Multiple drugs with a hydrophilic structure have a low penetration through the skin and slowly be of therapeutic benefit. However, drugs with a lipophilic character are better suited for transdermal delivery.
Opportunities: Technological development
Transdermal drug delivery describes an extremely attractive and innovative route across the skin due to the possibility of achieving systemic effects of drugs. The present system requires a particular focus on developing safe medicine with minimized adverse toxic effects related to most pharmacologically active agents. Transdermal drug delivery would be a focal paradigm that provides patient comfort, first-pass hepatic metabolism avoidance, local targeting, and reduction in toxicity related to different categories of drugs such as antiviral, anti-inflammatories, antibiotics, analgesics, anesthetic, and anticancer.
Read 230-page market research report,”Transdermal Drug Delivery Systems Market Size by Type (Semisolid Formulations, and Patches), Application, End-User (Hospital & Clinics, and Home Care Settings), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032″, published by The Brainy Insights
Some of the major players operating in the transdermal drug delivery systems market are:
• Transdermal Technologies, Inc.
• Transdermal Corporation
• Skyepharma, Watson Pharmaceuticals, Inc.
• Noven Pharmaceuticals, Inc.
• Novartis AG
• Mylan Pharmaceuticals, Inc.
• Johnson & Johnson
• Echo Therapeutics, Inc.
• Boehringer Ingelheim GmbH
• Biogel Technology, Inc.
• 4P Therapeutics, LLC
• 3M Company
Key Segments cover in the market:
By Type:
• Semisolid Formulations
• Patches
By Application:
• Analgesics
• Pain Management
• Smoking Cessation
• Hypertension
• CNS
• Hormone
• Central Nervous System Disorders
• Motion Sickness
• Cardiovascular Diseases
• Hormone Replacement Therapies
• Others
By End-User:
• Hospital & Clinics
• Home Care Settings
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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