November 15, 2019
According to the latest study titled ‘Global Transdermal Drug Delivery System Market: Analysis By Type (Patches, Gels), By Technique (Ionophoresis, Electroporation, Sonophoresis, Others), By End-User, By Region, By Country (2018 Edition): Trends, Opportunities and Forecast (2013-2023)’ available with Market Study Report LLC, the global transdermal drug delivery system market is estimated to grow with a CAGR of 12.18% through the year 2023.
Transdermal drugs delivery system involves application of medicated patches or gels on the skin with no cuts or slits. This is done to deliver drug at a controlled rate into the body. Factors such as increasing cases of chronic diseases, rising healthcare awareness among consumers, preference for minimally invasive products, approval of new devices, along with increasing healthcare expenditure in developing countries are driving the growth of transdermal drug delivery system market.
Moreover, inactive lifestyle, obesity and stress with consequences of hormonal imbalance and hypertension are further propelling the demand for transdermal drug delivery system market. The study encompasses details about segmental shares, and expansion strategies adopted by manufacturers. It provides insight about the challenges, drivers, trends, and restraints impacting the market growth.
Speaking of type, transdermal drug delivery system market from patches segment is presumed to grow substantially over the forecast period. While based on techniques, the industry is split into iontophoresis, electroporation, sonophoresis, and others. In terms of end-user spectrum, the transdermal drug delivery system market is bifurcated into hospital & clinic and homecare.
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Considering the geographical landscape, the global transdermal drug delivery system market is fragmented into four major regions, namely, Europe, North America, APAC, and rest of the world, with key focus on countries like U.S., Canada, Germany, U.K, China, Japan, Brazil, and India. However, Asia Pacific transdermal drug delivery system market is estimated to advance notable over the predicted time period, owing to presence of vast consumer base and increasing healthcare expenditure, claims the report.
Some of the vendors that operate in transdermal drug delivery system market are Boehringer Ingelheim, 3M Pharmaceutical, Novartis, Mylan, Noven, GlaxoSmithKline, Johnson & Johnson, Lohmann Therapeutics Systems, Corium International, and Bayer AG.
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