transdermal drug delivery systems market
PORTLAND, OREGON, UNITED STATES, July 14, 2023/EINPresswire.com/ — As per the report published by Allied Market Research, the global transdermal drug delivery systems market generated $52.47 billion in 2020, and is expected to reach $87.32 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Growing Market: The transdermal drug delivery systems market is experiencing significant growth. Factors such as increasing prevalence of chronic diseases, advancements in transdermal technologies, and patient preference for non-invasive drug delivery methods are driving market expansion.
Convenience and Patient Compliance: Transdermal drug delivery systems offer convenience and improved patient compliance compared to traditional drug delivery methods like oral or injectable routes. They eliminate the need for frequent dosing and reduce the risk of side effects associated with other routes.
Expanding Applications: Transdermal drug delivery systems are being used across various therapeutic areas, including pain management, hormonal disorders, cardiovascular diseases, central nervous system disorders, and smoking cessation. The versatility of transdermal patches and the ability to deliver a wide range of drugs make them suitable for different treatment options.
Technological Advancements: Advancements in transdermal drug delivery technologies, such as the use of microneedles, iontophoresis, and continuous monitoring systems, are enhancing drug delivery efficiency and expanding the range of drugs that can be delivered transdermally. These innovations are driving market growth and attracting investments in research and development.
Increased Demand for Wearable Devices: The integration of transdermal drug delivery systems with wearable devices, such as smart patches and electronic skin patches, is gaining popularity. These devices can monitor vital signs, track drug release, and provide real-time feedback to healthcare professionals, further enhancing patient care and treatment outcomes.
Market Players and Competition: The transdermal drug delivery systems market is highly competitive, with several key players involved in manufacturing and development. Companies are focusing on strategic partnerships, collaborations, and product innovations to gain a competitive edge. Additionally, the market is witnessing a surge in start-ups and smaller companies entering the space with novel technologies and targeted solutions.
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Market Drivers:
Patient Preference and Convenience: Transdermal drug delivery systems offer a convenient and patient-friendly method of drug administration. Many patients prefer transdermal patches over oral medications or injections due to their non-invasive nature and ease of use. Transdermal patches eliminate the need for frequent dosing and provide a steady release of medication, improving patient compliance and convenience.
Growing Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases, such as cardiovascular disorders, diabetes, pain-related conditions, and hormonal imbalances, is driving the demand for effective drug delivery systems. Transdermal drug delivery offers a viable solution for managing these chronic conditions by providing controlled and sustained drug release.
Market Segmentation:
By Product Type:
a. Transdermal Patches: These are the most common type of transdermal drug delivery systems and are available in different designs, such as matrix patches, reservoir patches, and drug-in-adhesive patches.
b. Transdermal Gels: These are gel formulations containing the drug that can be applied topically for transdermal absorption.
c. Transdermal Sprays: These are spray formulations that deliver drugs through the skin for systemic or localized effects.
d. Transdermal Films: These are thin films or strips that contain the drug and adhere to the skin for controlled drug release.
By Application:
a. Pain Management: Transdermal patches are commonly used for the management of chronic pain conditions, such as arthritis, back pain, and neuropathic pain.
b. Hormonal Disorders: Transdermal patches or gels are utilized for hormone replacement therapy in conditions like menopause or hypogonadism.
c. Cardiovascular Diseases: Transdermal patches may be employed for the treatment of hypertension or angina.
d. Central Nervous System Disorders: Transdermal drug delivery is utilized for conditions like Parkinson’s disease, Alzheimer’s disease, and migraine.
e. Smoking Cessation: Nicotine patches are widely used to aid in smoking cessation programs.
f. Others: Transdermal drug delivery systems are also employed in applications such as contraception, dermatology, and pediatrics.
By Technology:
a. Electrically Assisted Transdermal Delivery (Iontophoresis and Electroporation): These technologies use electrical currents to enhance drug penetration through the skin.
b. Passive Transdermal Delivery: This involves the passive diffusion of drugs through the skin without the use of external forces.
c. Active Transdermal Delivery (Microneedles and Microdermabrasion): These technologies create microchannels in the skin to facilitate drug delivery.
d. Reservoir Systems: These systems consist of a drug reservoir that releases the drug at a controlled rate.
e. Matrix Systems: In these systems, the drug is dispersed within a polymeric matrix that controls drug release.
By End User:
a. Hospitals and Clinics
b. Homecare Settings
c. Research and Academic Institutes
d. Others
By Region:
The market can be segmented into various regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Regional Growth Dynamics:
The global transdermal drug delivery systems market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than two-fifths of the market. However, market across Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.
Competitive Landscape:
Novartis International AG
Johnson & Johnson Services, Inc.
Mylan N.V.
3M Company
GlaxoSmithKline plc
Teva Pharmaceutical Industries Ltd.
Luye Pharma Group Ltd.
Hisamitsu Pharmaceutical Co., Inc.
UCB S.A.
Purdue Pharma L.P.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view
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Article originally published on www.einpresswire.com as Expanding Horizons of Non-Invasive Medication Administration
