Transdermal Gels to Dominate Transdermal Drug Delivery Systems Market During 2022-2030
According to our new research study on "Transdermal Drug Delivery Systems Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis," the market is expected to grow from US$ 37,230.28 million in 2022 to US$ 51,949.74 million by 2030; it is anticipated to record a CAGR of 4.3% from 2022 to 2030. Key factors driving the transdermal drug delivery system market growth include the growing demand for noninvasive drug delivery devices and the increasing prevalence of chronic diseases. However, the adverse effects and recall of transdermal drug delivery systems hinder market growth.
High demand for self-administration of drugs among patients requiring long-term treatment for diseases such as diabetes favors the growth of the transdermal drug delivery system market. In February 2023, AstraZeneca and Amgen’s Tezspire (tezepelumab) was approved in the US in a pre-filled, single-use pen, suitable for self-administration in severe asthma patients aged 12 years and older. Tezspire is the only biologic substance approved to treat severe asthma with no phenotype (e.g., eosinophilic or allergic) or biomarker limitation specified in its approved label. Owing to the discovery of new biological drugs and patent expiries of certain blockbuster drugs, the growing trend toward self-administration of medicines for chronic diseases (i.e., diabetes and cancer) has stimulated a wave of sophisticated transdermal drug types. In patients suffering from diabetes, insulin has to be administered into the patient's body with the help of injections on preset frequencies. The repeated use of injections to deliver insulin causes pain and enhances the risk of infection. Additionally, the incorporation of transdermal systems supports self-reliance in patients through a substantial reduction in the frequency of hospital visits and a decrease in the cost of treatments.
Transdermal Drug Delivery Systems Market, by Region, 2022 (%)
Transdermal Drug Delivery System Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Type (Transdermal Patches, Transdermal Gel, Transdermal Sprays, Others), Application (Cardiovascular Diseases, Central Nervous System Disorders, Pain Management, Hormonal Applications, and Other Applications), Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies and Others), and Geography
Transdermal Drug Delivery System Market Growth Scope 2030
Download Free Sample
Source: The Insight Partners Analysis
Novartis AG, Johnson & Johnson, GSK Plc, Viatris Inc, Boehringer Ingelheim International GmbH, Luye Pharma Group Ltd, Hisamitsu Pharmaceutical Co Inc, Lavipharm SA, Purdue Pharma LP, and UCB SA are among the key companies operating in the transdermal drug delivery systems market. These companies have been implementing organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launches, collaborations, and partnerships), which contributed to their growth and led to various changes in the market.
In February 2021, Luye Pharma Switzerland AG, a subsidiary of Luye Pharma Group, entered into an agreement with Towa Pharmaceutical Co Ltd (Towa). The terms of this agreement grant Towa exclusive rights to the development and commercialization of Rivastigmine Multi-Day (Rivastigmine MD) transdermal patch in Japan. The patch indicates a twice-weekly transdermal application to treat Alzheimer's disease. Luye Pharma has applied for several foreign patents and has been granted several ones to protect this product. Rivastigmine MD is presently in the registration stage in Europe and will soon begin phase III clinical research there. Luye Pharma has provided Towa exclusive rights to create and market Rivastigmine MD in Japan.
The report segments the transdermal drug delivery systems market as follows:
Based on product, the transdermal drug delivery system market is segmented into transdermal patches, transdermal gels, transdermal sprays, and others. The transdermal patches segment held the largest share of the market in 2022, while the transdermal gels segment is anticipated to register the highest CAGR during 2022–2030. A transdermal patch is a drug delivery system attached to a patient’s skin to deliver medication through the skin. The transdermal patch segment is further segmented into drug-in-adhesive patches, reservoir membrane patches, matrix patches, and vapor patches.
The transdermal drug delivery system market, by application, has been segmented into cardiovascular diseases, central nervous system disorders, hormonal applications, pain management, and other applications. The pain management segment held the largest share of the market in 2022. The central nervous system disorders segment is expected to register the highest CAGR in the market during 2022–2030. The market for the pain management segment is subsegmented into opioid application and non-opioid application. The market for hormonal application segment is further segmented into transdermal estrogen therapy and testosterone replacement therapy.
Based on the distribution channel, the transdermal drug delivery system market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2022. However, the retail pharmacies segment is expected to register the highest CAGR in the market during 2022–2030.
The transdermal drug delivery systems market, based on geography, is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com