Transdermal Drug Delivery Systems Market Projected to Reach Valuation of USD 87.3 billion at 4.9% CAGR from 2021-2030

PORTLAND, OREGON, UNITED STATES, July 1, 2024 /EINPresswire.com/ -- The transdermal drug delivery systems market size was $52.5 billion in 2020, and is estimated to reach $87.3 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030.

The rise in global geriatric population has significantly increased the demand for efficient and effective drug delivery systems. Furthermore, changing work culture and lifestyle across the globe has significantly increased the number of patients suffering from chronic diseases such as heart diseases, diabetes, and arthritis. In addition, advancements in transdermal drug delivery systems have enabled in use for delivery a wide range of medicines. Also, major companies in the industry are focused on development of more advanced and efficient transdermal drug delivery systems.

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Recent Development in Transdermal Drug Delivery Systems Market

In September, 2022, Corium, Inc., a fully-integrated biopharmaceutical company, announced the launch of ADLARITY (donepezil transdermal system) in the U.S. for the treatment of patients with mild, moderate, or severe dementia of the Alzheimer's type.

In November, 2023, DifGen Pharmaceuticals LLC announced the launch of its second complex Transdermal product, generic Buprenorphine Transdermal System (Gx to Butrans(R)) in the US market.

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By type of delivery, the market is segmented into passive and active. Among these, the passive segment accounted for the highest transdermal drug delivery systems market share in 2020 and active segment is expected to witness significant growth during the forecast period, owing to increase in demand for geriatric medicines and increase in healthcare spending. The market is analyzed with respect to different applications in industrial verticals, such as analgesics, hormone replacement therapy, hypertension, motion sickness, smoking cessation and others. The market is mainly driven by growth of global pharmaceutical industry, rise in geriatric population, and significant increase in patients suffering from chronic diseases across the globe. However, side-effects can constraint the transdermal drug delivery systems market growth.

Key Takeaways:

Motion sickness segment is estimated to manifest the highest CAGR of 6.3% from 2021 to 2030.

Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.

The rise in global population has significantly increased the demand for geriatric medicines.

The analgesics segment garnered the major market share in 2020, holding around one-third of the global transdermal drug delivery systems market revenue. The motion sickness segment, simultaneously, would display the fastest CAGR of 6.3% throughout the forecast period.

Market Segmentation:

By APPLICATION

Analgesics
Hormone Replacement Therapies
Hypertension
Motion Sickness
Smoking Cessation
Others

By Region

Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)

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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:

Viatris Inc.
Bayer AG
Boehringer Ingelheim GmbH
Endo International plc
GlaxoSmithKline plc.
Johnson & Johnson
Novartis AG
Purdue Pharma L.P.
Altaris
Hisamitsu Pharmaceutical Co. Inc.

Recent developments:

New transdermal patches for the treatment of pain and inflammation: Several companies are developing new transdermal patches for the treatment of pain and inflammation. For example, in 2023, Grünenthal launched a new transdermal patch called Qutenza that is used to treat moderate to severe osteoarthritis pain. Qutenza delivers capsaicin, a natural substance that reduces pain and inflammation, into the skin over a period of 84 hours.
Transdermal patches for the delivery of vaccines: Transdermal patches are also being developed for the delivery of vaccines. For example, in 2023, Vaxxas began Phase 1 clinical trials of a transdermal patch vaccine for COVID-19. The Vaxxas patch uses microneedles to deliver the vaccine into the skin, which is a more efficient and effective way to deliver vaccines than traditional injections.

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Allied Market Research
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