Factors driving the growth of the transdermal drug delivery system market include growth in the prevalence of chronic diseases and high-tech advancements. Moreover, drug failure and recalls of transdermal drug delivery systems may hinder the market growth.
Dallas, United States - October 26, 2020 /MarketersMedia/ —
The global transdermal drug delivery system market is projected to reach USD 8,117 million by 2028, growing at a CAGR of 4.7%. One of the driving factors of this industry is the convenience and home use appeal for patients. Not only is first generation transdermal delivery safe and effective, it also has the benefit of being low cost. The use of physical enhancers may require electrical hand-held devices and so are more expensive, however they have the advantage of being able to deliver macromolecules and vaccines. As with most fast paced markets, advances in technology is a major driving force and the transdermal drug delivery market is no exception. The development of microneedles to enhance absorption has opened up market opportunities for transdermal peptide and vaccine delivery. An added advantage is the ability of microneedles to be incorporated in a single-use patch that is low cost and does not require an electrical current.
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A disadvantage of this method is that it is more invasive and so raises health and safety concerns. Moreover, it is anticipated that TDDS will revolutionize how vaccines are administered in the future. This technology would lend itself to infant vaccine programs, and also annual influenza vaccines which are particularly important in the geriatric and immunocompromised markets. Disadvantages of using the skin as a primary delivery receptacle include rash, sensitization and allergy.
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A newly collated research report by Adroit Market Research emphasizes steady growth in transdermal drug delivery market in foreseeable future. To achieve error free and systematic distribution of active ingredients, eying superlative health outcome, transdermal drug delivery system is witnessing large scale adoption as a desired route of drug administration.
The required drug is delivered with multiple administration means comprising microneedle patch delivery, laser and ultrasound waves being the most dominant types. Transdermal drug delivery enables precise penetration within the dermis skin layer for desired outcome.
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Growing Patient Preferences for Non-Invasive Therapeutics Improve Growth Possibilities
With rising adoption of automated drug delivery system for superlative health management amongst patients of chronic ailments, transdermal drug delivery system is poised to experience stellar adoption rates across care centers and hospitals.
Additionally, home care set-up is also witnessing ample reliance. Further pushing instrumental adoption in recent years, thus reflecting lucrative growth and market expansion in transdermal drug delivery market.
With advances in cancer therapeutics, market participants are aggressively supporting the potency of thermal drug delivery system owing to its high skin penetration capabilities that reflect improved therapeutic outcome. Nanotechnology based transdermal drug delivery system for cancer therapeutics comprising gene therapy, combination therapy, and immunotherapy are estimated to orchestrate revenue generation.
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In 2020, North America was the largest market for transdermal drug delivery system owing to rising prevalence of targeted diseases. Moreover, Asia Pacific is projected to grow at a highest pace during the forecast period. Key players of the global transdermal drug delivery system market include Hisamitsu Pharmaceutical, Novartis, Mylan, UCB, Boehringer Ingelheim, GlaxoSmithKline, Johnson & Johnson, Endo International, 3M Company and Purdue Pharma among others.
Key segments of the global transdermal drug delivery system market
Type Overview, 2018-2028 (USD Million)
Transdermal Patches
Transdermal Semisolids
Application Overview, 2018-2028 (USD Million)
Pain Management
Hormonal Applications
Central Nervous System Disorders
Cardiovascular Diseases
Other Applications
Regional Overview, 2018-2028 (USD Million)
North America
U.S.
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
Rest of the World
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Website: https://www.adroitmarketresearch.com/industry-reports/transdermal-drug-delivery-system-market
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