Transdermal Drug Delivery Market is Growing at a CAGR of 9.8% during the Study Period from 2021 to 2026, Asserts DelveInsight

LAS VEGAS, Dec. 14, 2021 /PRNewswire/ -- DelveInsight published a new report on "Transdermal Drug Delivery Market & Competitive Landscape," providing an in-depth market understanding for transdermal drug delivery which will further benefit the competitors or stakeholder operating in the transdermal drug delivery arena.

Recent Developmental Activities In Transdermal Drug Delivery Devices Market:

• On December 07, 2020, Hisamitsu Pharmaceutical Co., Inc. had announced that the transdermal, pain treatment NSAID patch had achieved the primary endpoint of the LP03 study, Phase III clinical study for "low back pain" and the LP04 study, Phase III clinical study for "humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis" in Japan.
• On July 21, 2020, Hisamitsu Pharmaceutical Co., Inc. announced that it has obtained approval of manufacturing and marketing for OABLOK® PATCH in Thailand.
• On October 15, 2019, Noven Pharmaceutical's Secuado (asenapine) transdermal system had received Food and Drug Administration's approval to treat schizophrenia patients.

Interested in knowing how the Transdermal Drug Delivery Market will be growing by 2026? Click to get a snapshot of Transdermal Drug Delivery Market Analysis

Transdermal Drug Delivery Devices Overview 

Transdermal Drug Delivery devices are devices that are used for delivering biologically active agents through the skin, majorly by diffusion, for locally internal or systemic effects. These are preferred alternatives that work effectively in place of oral drug delivery and hypodermic injections. 

The transdermal drug delivery devices consist of relatively high amounts of Active Pharmaceutical Ingredients (APIs) mainly incorporated into a polymeric matrix. Polymer used in this transdermal drug delivery system allows the drug to diffuse properly and get released through it. 

To get a deeper understanding of the driving factors related to the transdermal drug delivery market, get a snapshot of the Transdermal Drug Delivery Market Dynamics

Geography-Wise Transdermal Drug Delivery Market Analysis

Geographically, the global transdermal drug delivery market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. North America tends to dominate the global transdermal drug delivery market in the present scenario in terms of market share. It is anticipated to continue to dominate during the forecast period. However, the domination shown by North America will be prominently challenged by the European market. This supremacy witnessed in North America is attributed to the rising prevalence of cardiovascular disorder, growing central nervous system disorders, and the preferred choice of non-invasive drug delivery methods by patients, and already established key manufacturers in the North American region. 

However, there are great opportunities for market penetration for European regions as the major companies already have a grip in developed regions.  Further, due to the growing chronic disorders, the adoption of third-generation transdermal drug delivery devices by patients, and key players in European regions. There is an increasing demand observed for transdermal drug delivery in these regions, thereby positively influencing the overall transdermal drug delivery market. 

To gain a better understanding of the European Transdermal Drug Delivery Market, click to get a snapshot of Transdermal Drug Delivery Market Analysis

Covid-19 Impact on Transdermal Drug Delivery Devices Market 

The market for Transdermal Drug Delivery had observed a period of reduced growth owing to the outbreak of COVID-19. Various elective procedures were temporarily stopped in contrast to the COVID-19 affected patients that were given utmost priority because of the COVID-19 pandemic. Apart from this, several other factors, including the lockdown-related restrictions, patient reluctance to visit the hospitals and clinics, logistical issues, and the temporary closing of manufacturing companies, had further affected the healthcare system. 

However, post-COVID-19, the healthcare system is trying to get normalcy due to the resumed patent visits, the opening of manufacturing facilities, and leverage given in terms of lockdown restrictions. Apart from all these factors, an increase in the recent approvals of the transdermal drug delivery, the rise in research and development of technologically advanced transdermal drug delivery in COVID-19 patients, and the increase in mergers and acquisitions between the key players active in this arena have increased the demand for transdermal drug delivery. 

Transdermal Drug Delivery Devices Market Segmentation

• By Type of Devices
• Drug-in-adhesive Patches
• Matrix Patches
• Reservoir Membrane Patches
• Microneedle Patches
• By Application
• Pain Management
• Central Nervous System Disorders
• Hormonal Applications
• Cardiovascular Diseases
• Others
• By End-User
• Hospitals
• Ambulatory Surgical Centers 
• Others 
• By Geography
• North America
• Europe
• Asia-Pacific
• Rest of World

The global transdermal drug delivery market by device type is categorized into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and microneedle patches.

Various benefits offered by the transdermal drug delivery devices in contrast to the oral or systemic dosage systems, such as the controlled release of drugs via the skin of patients, tend to reduce the first-pass metabolism effects, reduction of systemic side effects, and improvement in the dosage of efficacy by allowing steadier blood drug profiles throughout treatment, thereby enhancing patient compliance. Also, the recent launches of transdermal patches will aid in bolstering the transdermal drug delivery devices market. 

Therefore, due to the approval and launch of such technologically advanced transdermal drug delivery in the market, there will be a growth observed in demand for transdermal drug delivery. 

Transdermal Drug Delivery Device Market Scope

• Study Period: 2018-2026
• Key Companies: Hisamitsu Pharmaceutical, Mylan, UCB SA, Novartis, GlaxoSmithKline, Boehringer Ingelheim, Johnson & Johnson, Endo International, Purdue Pharma, Bristol-Myers Squibb Company, Endo Pharmaceuticals Inc., Acrux Limited, Lavipharm, Lead Chemicals Co. Inc., Luye Pharma Group and others.
• Market Segmentation: By Type, By Application, By End-User, and By Geography
• Geography Covered: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)

Table of Contents

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About DelveInsight

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SOURCE DelveInsight Business Research, LLP