Transdermal Drug Delivery System Market Worth $145.0 Billion by 2030: Grand View Research, Inc.

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Jan 17, 2023, 09:30 ET

SAN FRANCISCO, Jan. 17, 2023 /PRNewswire/ -- The global transdermal drug delivery system market is expected to reach USD 145.0 billion by 2030, registering a CAGR of 11.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing adoption of transdermal patches, such as in the case of diabetes, which requires sustained and a daily dose of insulin is expected to provide the market with growth opportunities during the forecast period.

Key Industry Insights & Findings from the report:

The iontophoresis segment dominated the market in 2022 owing to its efficacy in delivering drugs. The mechanical arrays segment is expected to maximum growth due to the increasing number of product launches.
The pain management segment accounted for the highest market share in 2022 due to increasing demand for transdermal patches used for pain management.
The cardiovascular segment is anticipated to experience maximum growth during the forecast period due to the increasing utilization of these systems in the treatment of cardiovascular diseases.
North America accounted for the highest market share in 2022 owing to a rise in investments by existing as well as new market players.
Increasing healthcare expenditure and huge investments in research and development represent lucrative growth opportunities in the Asia Pacific region.

Read 120-page market research report, "Transdermal Drug Delivery Systems Market Size, Share & Trends Analysis Report By Technology (Electroporation, Iontophoresis, Ultrasound), By Application (Pain Management, CNS, Hormone), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Transdermal Drug Delivery Systems Market Growth & Trends

High demand for pain-free drug delivery is a major driving factor of the transdermal drug delivery systems market. In the case of diabetes, insulin has to be administered into the patient's body with the help of injections on a continuous basis. Continuous usage of injections to deliver insulin causes pain and increases the risk of transmission of chronic diseases, thus, making transdermal patches a better choice for delivering insulin in diabetic patients.

COVID-19 led to a significant fall in sales of transdermal drug delivery systems. This is because most of these drugs are prescribed drugs and the pandemic led to a sharp fall in patient visits to healthcare facilities. Factors such as lockdowns and travel restrictions led down by the government, to curb the spread of the virus, resulted in reduced patient visits. In addition, many individuals in order to avoid physical contact also avoided visiting healthcare facilities, as a precautionary measure.

However, with the world moving towards normalcy and various pharma companies focusing on developing new novel products, the market represents great opportunities for growth. Moreover, increasing investments by the government in R&D and healthcare are further accelerating the demand for transdermal drug delivery systems in the market.

Transdermal Drug Delivery Systems Market Segmentation

Grand View Research has segmented the global transdermal drug delivery system market based on technology, application, and region

Transdermal Drug Delivery System Market - Technology Outlook (Revenue in USD Million, 2018 - 2030)

Electroporation
Radio Frequency
Iontophoresis
Microporation
Thermal
Mechanical arrays
Ultrasound
Others

Transdermal Drug Delivery System Market - Application Outlook (Revenue in USD Million, 2018 - 2030)

CNS
Pain Management
Cardiovascular
Hormone
Immunological
Metabolic
Gastrointestinal
Infection
Cancer
Others

Urological
Blood disorders
Respiratory
Musculoskeletal

Transdermal Drug Delivery System Market - Regional Outlook (Revenue in USD Million 2018 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Denmark
Sweden
Norway

Asia Pacific

Japan
India
China
South Korea
Thailand
Australia

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia
UAE
Kuwait

List of Key Players in Global Transdermal Drug Delivery System Market

Novartis AG
Johnson & Johnson
Mylan Pharmaceuticals, Inc.
Boehringer Ingelheim GmbH
Biogel Technology, Inc.
Transdermal Technologies, Inc.
Skyepharma, Watson Pharmaceuticals, Inc.
3M Company
Noven Pharmaceuticals, Inc.
4P Therapeutics, LLC
Transdermal Corporation
Echo Therapeutics, Inc.

Check out more related studies published by Grand View Research:

Needle-Free Drug Delivery Device Market - The global needle-free drug delivery device market size is poised to reach USD 16.26 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 10.5% during the forecast period. Rising usage of injections in healthcare settings such as hospitals, clinics, and ambulatory surgical centers has led to spread of infectious diseases such as Hepatitis B, Hepatitis C, and AIDS, especially in developing countries. This acts as a key driver for the needle-less drug delivery devices industry. Furthermore, rising collaborations between market players is further likely to increase competitiveness of this market. For instance, PharmaJet and Mundipharma entered into a partnership in 2018 for distributing its needle free injectors over 120 markets globally.
Controlled Release Drug Delivery Market - The global controlled release drug delivery market size is estimated to reach USD 110.13 billion by 2030, registering a CAGR of 10.5%, according to a new report by Grand View Research, Inc. The benefits associated with controlled release drug delivery systems such as increased therapeutic efficacy, fewer side effects, and low treatment cost are the factors driving the growth of the market during the forecast period. These technologies offer various benefits over traditional delivery forms. Reduced dosage and dosage frequency, enhanced patient compliance, less gastrointestinal side effects, uniform drug effect, improved drug efficacy and safety, and reduced fluctuation of plasma drug levels are some of the major advantages offered by controlled release technology.
Drug Device Combination Products Market - The global drug device combination products market size is expected to reach USD 251.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.8% from 2022 to 2030. The rising demand for minimally invasive techniques due to enhanced patient outcomes associated with it is the high impact-rendering driver of this market. These devices facilitate early diagnosis and reduced treatment duration in a majority of surgical procedures. Growing demand is also a consequence of minimal pain, heightened cost efficiency, improved safety, better efficacy, rapid recovery, and reduced hospital stay rendered by these devices.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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