Transdermal Drug Delivery Market by Application and Geography - Global Forecast 2019-2023

Industry Insights

The global transdermal drug delivery market size will grow by USD 1.79 billion during 2019-2023 at over 4% CAGR. The advantages over parenteral and oral routes of administration and the availability of penetration enhancers used in transdermal drug delivery are a few factors that are expected to drive the market growth in the coming years. The report provides a detailed analysis of the market by application (analgesics, neurological disorders, hormone replacement therapy, cardiovascular disorders, and others) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Corium Inc., GlaxoSmithKline Plc, Johnson & Johnson Services Inc., Novartis AG, and Teva Pharmaceutical Industries Ltd.

They are synthetic components that mimic the functions and molecular structure of human blood. These blood substitutes are available as hemoglobin-based oxygen carrier (HBOC) and perfluorocarbon-based oxygen carrier (PFBOC).

Key Insights from Transdermal Drug Delivery Market – Global Forecast 2019-2023

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The advantages of transdermal drug delivery over parenteral and oral routes of administration is one of the key factors contributing to the growth of the market. There are certain limitations associated with oral drug delivery, such as incomplete delivery of medicines to the target site because of unpredictable gastrointestinal absorption. On the other hand, the parenteral route of administration, such as injection, is effective. However, many individuals do not prefer this method because of the pain associated with it.

Transdermal drug delivery overcomes the limitations mentioned above. It is an effective non-invasive drug delivery method. Transdermal patches are applied on the skin closest to the target site. They ensure controlled absorption. They also have improved bioavailability owing to pH-associated deactivation. These factors have increased patient compliance, which is significantly driving the growth of the market.

The availability of penetration enhancers used in transdermal drug delivery is one of the key trends contributing to the growth of the market. Researchers have developed various ways to modify the barrier properties of the skin for effective transdermal drug delivery. The approaches used to enhance drug penetration through the skin are chemical, physical, and biochemical. The physical approach, commonly used for skin condition treatment, involves the use of ultrasound. Also, there are many chemical and biochemical enhancers available in the market. The rising availability of these enhancers will continue to support the growth of the global transdermal drug delivery market over the forecast period. As a result of these factors, the market will register over 4% CAGR over the forecast period.

Industry Analysis

Application Insights

The application segment has been broadly categorized into analgesics, neurological disorders, hormone replacement therapy, cardiovascular disorders, and others. The analgesics segment accounted for the highest transdermal drug delivery market share in 2018. During the forecast period, the segment is expected to grow faster compared with the overall market. The other application segment will register a slower growth rate compared with the overall market during the forecast period.

Regional Insights

North America accounted for the highest market share in 2018. The growth rate of the region will be faster than the overall market over the forecast period. It will account for the largest market share in the global transdermal drug delivery market throughout the forecast period. The US is a significant revenue contributor to the transdermal drug delivery market in North America.

The rising prevalence of chronic health conditions such as neurological disorders, cardiovascular diseases, Alzheimer’s dementia, and diabetes in the US is increasing the need for novel treatment therapies. These therapies need advanced drug administration methods, which is increasing the demand for these systems. Also, the repurposing of many drugs in the region are contributing to the growth of the market. Furthermore, the presence of several leading vendors in the region will also contribute to the growth of the market in North America.  

Top Transdermal Drug Delivery Providers

The market is moderately fragmented. The transdermal drug delivery market analysis report provides a detailed analysis of the market’s competitive landscape and offers information on the services offered by various companies. To enable service providers in creating strategies to make the most of future growth opportunities, the report also provides information on the upcoming market trends and challenges that will influence the market growth.

The report offers a detailed analysis of several companies, including: 

• Corium Inc.
• GlaxoSmithKline Plc
• Johnson & Johnson Services Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.

Segments covered in the report

Transdermal drug delivery market by application

• Analgesics
• Neurological disorders
• Hormone replacement therapy
• Cardiovascular disorders
• Others

Transdermal drug delivery market by geography

• Asia
• Europe
• North America
• ROW

Key Highlights of the Transdermal Drug Delivery Market Forecast Report for the Period 2019-2023 

• CAGR of the market during the forecast period 2019-2023 
• Detailed information on factors that will accelerate the growth of the transdermal drug delivery market size during the next five years 
• Precise estimation of the global transdermal drug delivery market size and its contribution to the parent market 
• Accurate predictions on upcoming trends and changes in consumer behavior 
• The growth of the industry across Asia, Europe, North America, and ROW 
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors 
• Comprehensive details of factors that will challenge the growth of the delivery providers 

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