May 2024 | Report Format: Electronic (PDF)
Transdermal Drug Delivery Systems Market Growth & Trends
The global transdermal drug delivery systems market size is anticipated to reach to reach USD 145.04 billion by 2030, expanding at a CAGR of 11.9%, based on a new report by Grand View Research, Inc. The growing acceptance of transdermal patches, particularly for conditions like diabetes that necessitate consistent and daily insulin dosage, is projected to drive market growth in the transdermal drug delivery systems sector.
In addition, diabetes patients require regular insulin administration, traditionally done through injections, which can cause discomfort and increase the risk of disease transmission. This makes transdermal drug delivery system will be a more appealing alternative for delivering insulin.Another significant factor contributing to the growth of the market is the rising demand for painless drug delivery. The constant use of injections for insulin administration can lead to discomfort and even chronic diseases. Transdermal patches offer a more comfortable and efficient way of delivering insulin, thus addressing these issues.
Moreover, chronic diseases like diabetes, heart conditions, and pain-related issues become more common globally, there is a greater need for drug delivery methods that are both effective and easy for patients to use. For example, according to the American Heart Association’s 2022 report on the Global Burden of Disease, the death rate per 100,000 people was 239.8, while the prevalence rate was 7354.1 per 100,000. Transdermal drug delivery systems come with multiple benefits such as being non-invasive, providing controlled drug release, enhancing patient adherence, and minimizing side effects. This increasing demand for user-friendly drug delivery systems, particularly for the ongoing management of long-term medications, is driving the transdermal drug delivery market growth.
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Transdermal Drug Delivery Systems Market Report
Transdermal Drug Delivery Systems Market Report Highlights
- In 2023, the iontophoresis segment accounted for the largest market share. This can be attributed due to its effectiveness in delivering medications non-invasively through the skin using electrical currents
- In 2023, the pain management segment led the application segment due to the increasing prevalence of chronic diseases and trauma, including musculoskeletal disorders such as arthritis, osteoarthritis, and orthopedic degenerative disorders. The growing prevalence of these conditions is contributing, driving the segment growth
- The hormone segment is expected to grow at an exponential CAGR during the forecast period in the application segment in 2023. This is due to rising demand for convenient hormone therapies. Transdermal delivery’s effectiveness and user-friendliness make it an attractive solution for administering hormones
- The North American region held the largest market share in 2023 due to advanced healthcare infrastructure and high prevalence of targeted diseases like chronic pain, central nervous system disorders, and cardiovascular diseases in the region
- Market players adopt several strategic initiatives to increase the product reach and improve availability in diverse geographic areas
Transdermal Drug Delivery Systems Market Segmentation
Grand View Research has segmented the global transdermal drug delivery systems market based on technology, application, and region:
Transdermal Drug Delivery Systems Technology Outlook (Revenue, USD Million, 2018–2030)
- Electroporation
- Radio Frequency
- Iontophoresis
- Microporation
- Thermal
- Mechanical arrays
- Ultrasound
- Others
Transdermal Drug Delivery Systems Application Outlook (Revenue, USD Million, 2018–2030)
- CNS
- Pain Management
- Cardiovascular
- Hormone
- Immunological
- Metabolic
- Gastrointestinal
- Infection
- Cancer
- Others
List of Key Players in The Transdermal Drug Delivery Systems Market
- Novartis AG
- Johnson & Johnson
- Mylan Pharmaceuticals, Inc.
- Boehringer Ingelheim GmbH
- Hisamitsu Pharmaceutical co. Inc
- 3M Company
- Noven Pharmaceuticals, Inc.
- 4P Therapeutics, LLC
- Grünenthal
- AbbVie
