The transdermal drug delivery systems market is expected to reach USD 7.1 billion by 2023 from an estimated USD 5.7 billion in 2018, at a CAGR of 4.5% during the forecast period (2018-2023). Market growth is largely driven by the global increase in the prevalence of chronic diseases. In addition, technological advancements in transdermal drug delivery systems are also expected to support market growth in the coming years.
Overview:
The study involved four major activities to estimate the current market size for transdermal drug delivery systems. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size. Finally, the market breakdown and data triangulation was used to estimate the market size of segments and subsegments.
By application, the pain management segment is estimated to hold the largest share of the transdermal drug delivery systems market
Based on applications, the market is segmented into five categories pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications (smoking cessation, motion sickness, and overactive bladder treatment). In 2018, the pain management segment is expected to account for the largest share of the transdermal drug delivery systems market. The large share of this segment can be attributed to the high burden of chronic pain worldwide and the growing availability of transdermal products for pain management.
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203190114
Transdermal patches to dominate the transdermal drug delivery systems market during the forecast period
On the basis of type, the transdermal drug delivery systems market is segmented into transdermal patches and transdermal semisolids. On the contrary, the transdermal patches segment is also expected to grow at a higher rate during the forecast period. This can be attributed to the benefits offered by transdermal patches such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch.
Home care settings segment is expected to grow at the fastest rate during the forecast period
On the basis of end users, the transdermal drug delivery systems market is segmented into home care settings and hospitals & clinics. The home care settings segment is expected to grow at a higher CAGR during the forecast period. The high growth in this segment can be attributed to the increase in self-administration of medication at home, rapid growth in the geriatric population across the globe, and the growing need for cost-effective drug administration.
North America is expected to hold the largest market share during the forecast period
North America is one of the major revenue generating regions in the transdermal drug delivery systems market. The transdermal drug delivery systems market in the region is driven by the rising prevalence of targeted diseases (such as chronic pain, central nervous system disorders, and cardiovascular diseases) in the region, the increasing use of contraceptives, and the increasing number of research activities related to transdermal drug delivery systems.
Key Market Players
The key players in the transdermal drug delivery systems market are Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), and GlaxoSmithKline (UK). Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).
Hisamitsu is a leading company in the field of drugs for external use. The company is a pioneer in the field of transdermal patches. The company markets its transdermal products in North America, Europe, Central & South America, Asia & Oceania, and the Middle East & Africa. The firm has constantly focused on research and development to enhance its transdermal products and launch them in the market. For instance, in 2017, the firm spent over USD 14.0 million compared to USD 12.8 million in 2016 on R&D activities.
Mylan is among the leading players in the transdermal drug delivery systems market. The company strives to design, develop, and manufacture high-quality, innovative transdermal drug delivery systems, such as adhesive patches. These medicines treat a variety of conditions across several therapeutic categories. In order to strengthen its position in the market, the company significantly invests in R&D activities. In 2017, the company invested USD 783.3 million in R&D activities to innovate and launch new products in the market as compared to USD 826.8 million in 2016. The company generates its revenue primarily from the sale of oral solid dosages, injectables, transdermal patches, gels, creams, ointments, and unit dose offerings.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=203190114
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
No comments:
Post a Comment