October 01, 2019
According to the latest study available at MarketStudyReport.com under the title ‘Global Transdermal Drug Delivery System Market Growth (Status and Outlook) 2019-2024’, the worldwide transdermal drug delivery system market is estimated to accumulate US $19000 million by the year 2024.
Transdermal drug delivery system (TDDS) involves an adhesive patch which is medicated and is applied on the skin to administer specific dose of medicine into the bloodstream through skin. This system is beneficial for fast healing of injured part of body. TDDS is preferred over other drug delivery systems as it offers controlled release of drug through porous membrane of skin, aided by body heat.
Swift adoption of unhealthy lifestyles leading to chronic diseases such as diabetes and cancer, is the major factor propelling the growth of transdermal drug delivery system market. Other parameters aiding the market growth are rising geriatric population who are vulnerable to chronic ailments and increasing demand for highly effective pharmacological drugs.
As per the report, the global TDDS market was worth US $8950 million in 2019 and is presumed to grow with a CAGR of 13.4% over the analysis timeline. The study also provides a comprehensive understanding about the trends, drivers, opportunities, segmental share, and challenges impacting the market growth.
Based on the type, transdermal drug delivery system market is segmented as fentanyl, nicotine, nitroglycerin, and others, wherein, the fentanyl segment held 31.1% revenue share in 2016. Moreover, on the basis of application scope, the market is fragmented as OTC and Rx. OTC segment led the TDDS market with 83.3% share in 2016.
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Considering the regional landscape, the industry is split into four main regions, which are Europe, Asia Pacific, Americas, and Middle East & Africa. North America TDDS market accounted for 41% revenue share in 2016, dominating the global market.
The prominent companies of transdermal drug delivery system market are Hisamitsu, Laboratories Genevrier, GSK, Mentholatum Company, Novartis, Nichiban, Teve (Actavis), Haw Par, Johnson & Johnson, Huarun 999, Lohmann, Endo, Teikoku Saiyaku, Qizheng, Bayer, Sanofi, and Lingrui.