(Health-NewsWire.Net, February 16, 2021 ) Market growth is largely driven by the global increase in the prevalence of chronic diseases. In addition, technological advancements in transdermal drug delivery systems are also expected to support market growth in the coming years.
The pain management segment is expected to account for the largest share of the market in 2018
On the basis of application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications (smoking cessation, motion sickness, and overactive bladder treatment). In 2018, the pain management segment is expected to account for the largest share of the transdermal drug delivery systems market. Growth in this market is largely driven by the high burden of chronic pain worldwide and the growing availability of transdermal products for pain management.
# In January 2018, Hisamitsu Pharmaceutical (Japan) launched ALLESAGA TAPE in the Japanese market.
# In July 2018, UCB (Belgium) received the Import Drug License (IDL) for its transdermal rotigotine patch—NEUPRO from the China Food and Drug Administration (CFDA).
# In August 2018, Luye Pharma (China) signed an agreement with Bayer AG (Switzerland) to acquire the global rights to the Apleek contraceptive transdermal patch
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The transdermal patches segment is expected to grow at the highest CAGR during the forecast period
On the basis of type, the transdermal drug delivery systems market is segmented into transdermal patches and transdermal semisolids. In 2018, the transdermal patches segment is expected to account for the larger share of the transdermal drug delivery systems market. This drug delivery system offers several advantages, such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch. Also, the use of patches results in increased patient compliance due to their non-invasive nature and painless application. These factors are expected to drive market growth.
Key Questions addressed by the report:
# Which are the key players in the market and how intense is the competition?
# Emerging countries have immense opportunities for the growth of transdermal drug delivery systems market, will this scenario continue?
# Which product market will dominate in future?
# What does the future look like for transdermal drug delivery systems?
# What are the challenges hindering the adoption of transdermal drug delivery systems?
North America to dominate the transdermal drug delivery systems market in 2018
North America is expected to dominate the transdermal drug delivery systems market in 2018. The large share of the North American transdermal drug delivery systems market can primarily be attributed to the rising prevalence of targeted diseases (such as chronic pain, central nervous system disorders, and cardiovascular diseases) in the region, the increasing use of contraceptives, and the increasing number of research activities related to transdermal drug delivery systems.
The key players in the transdermal drug delivery systems market are Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), GlaxoSmithKline (UK), Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).
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