Transdermal drug delivery systems (TDDS) are devices used in administering drugs through the skin at a predetermined rate and maintain concentrations accordingly. They are also known as patches. The global transdermal drug delivery systems market report contains drivers, challenges, trends, and opportunities for the period of 2018 to 2023 (forecast period). It also considers the impact of the COVID-19 pandemic on medical devices and its manufacture.

Market Scope

The global transdermal drug delivery systems market size is projected to expand at 4.6% CAGR over the forecast period. It stood at a value of USD 5,400.2 million in 2017. The market is primarily driven by increasing cases of chronic diseases and the large geriatric population. According to the World Health Organization (WHO), the population of patients above the age of 60 can reach 2 billion by 2050. Technological breakthroughs in delivery systems and adoption of new devices can pave the way for the market.

Browse Sample of the Report @ https://www.marketresearchfuture.com/sample_request/7545

However, incidence of irritation and edema, lack of adhesion of TDDS to different skin types, and a cap on the volume of drugs to be administered to the body can impede market growth.

Segmentation

The global transdermal (percutaneous) drug delivery systems market has been segmented into product, technology, and application.

By product, the market has been divided into transdermal patches and transdermal semisolids. The transdermal patches segment is further categorized into microneedle patches, drug-in-adhesive patches, matrix patches, and reservoir membrane patches. On the other hand, the transdermal semisolids segment is segmented into sprays, gels, and ointments. The transdermal patches segment had held the majority of the market in 2017 due to its benefits of reduced dosing frequency, lower adverse events, improved bioavailability, enhanced patient compliance (non-invasive nature), and painless application.

On the basis of technology, the market has been divided into thermal, electric current, ultrasound, iontophoresis, electroporation, microporation, and others.

By application, the market caters to hormone replacement therapy, smoking cessation, contraception, pain management, cardiovascular diseases, central nervous system disorders, and others.

Regional Analysis

The global transdermal (percutaneous) drug delivery systems market has been segmented by region into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

Geographically, in 2017, the Americas dominated the global TDDS market due to the presence of major market players (Pfizer Inc., and Johnson & Johnson Services, Inc.) and developed healthcare infrastructure. Increased investments in research activities related to transdermal drug delivery systems, a surge in surgeries, and high adoption of TDDS systems in the US and Canada.

Europe would follow the Americas in the global transdermal (percutaneous) drug delivery systems market owing to stellar advances in the pharmaceutical industry. The growth is foster due to the proximity of pharma heavyweights such as Hisamitsu Pharmaceutical Co., Inc., Novartis International AG, Mylan N.V., Boehringer Ingelheim International GmbH, and Allergan plc.

APAC is expected to generate maximum revenue for the global TDDS market owing to the growing elderly population and the rising prevalence of chronic diseases. India, China, and Japan are likely to contribute to the growth of the APAC transdermal drug delivery systems marekt throughout the forecast period. For instance, the Coronary Artery Disease among Asian Indians (CADI) Research Foundation had reports of hypertension being highly prevalent disease in India. The number is estimated to reach to 214 million by 2025. This can be prove to be lucrative for manufacturers of TDDS.

The MEA region would register a modest market growth rate during the forecast period. Introduction of new healthcare models and modernization of infrastructure in the Gulf Cooperation Council (GCC) countries and Sub-Saharan African countries can induce demand for TDDS in the region.

Competitive Outlook

Pfizer Inc., Mylan N.V. Hisamitsu Pharmaceutical Co., Inc. UCB S.A., Boehringer Ingelheim International GmbH, Allergan plc, Noven Pharmaceuticals, Inc., Endo Pharmaceuticals Inc., Novartis International AG, Actelion Pharmaceuticals Ltd, GlaxoSmithKline PLC, and Johnson & Johnson Services, Inc. are key players of the global transdermal drug delivery systems market.

Browse More Details of the Report @ https://www.marketresearchfuture.com/reports/transdermal-drug-delivery-systems-market-7545