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HEALTHCARE & PHARMACEUTICAL

Global Transdermal Drug Delivery Market Analysis Opportunity Outlook 2024

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Transdermal Drug Delivery Market Overview 

Transdermal drug delivery offers a number of advantages over other drug delivery system such as improved efficacy-to-tolerability ratio by regulating serum drug levels, controlled and extended release of drugs and avoid gastrointestinal and hepatic pre-systemic metabolism. Transdermal drug delivery devices such as patch find their major application in insulin delivery to diabetic patient.

Market Size and Forecast

Global transdermal drug delivery market reached USD 4,200.3 Million in 2016 and is expected thrive at a CAGR of 7.5% over the forecast period i.e. 2017-2024. Factors such as growth in chronic disease prevalence and increasing geriatric population across the globe are benefitting the growth of transdermal drug delivery market. Apart from this, growing spending on healthcare by the population is anticipated to positively impact the growth of the market. In terms of regions, the global transdermal drug delivery market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Among these regions, North America is slated to account for a leading share of 35.1% in the terms of revenue by 2024 in the transdermal drug delivery market. The growth in the region is anticipated to be fostered by the high spending on healthcare in the region. Besides, high adoption rate of advance technologies is also expected to impel the growth of transdermal drug delivery market in the North America region. U.S. is the prominent market in the region.

Transdermal Drug Delivery Market Size

Apart from North America region, Asia Pacific region accepted to witness robust growth over the forecast period. Asia Pacific is expected to showcase significant growth over the forecast period i.e. 2017-2024 by registering a CAGR of 8.2% over the forecast period. Europe transdermal drug delivery market is also projected to thrive at a notable CAGR over the predicted period. Rising health spending in the European countries is expected to bolster the growth of market in upcoming years. Additionally, U.K. transdermal drug delivery market contributed around 12.2% market share of total Europe transdermal drug delivery market in 2016. Further, cardiovascular transdermal drug delivery segment by application grabbed 23.5% shares of market in 2016 and is expected to continue this positive growth over the forecast period. Increasing chronic diseases prevalence and rising utilization of transdermal drug patches is making the headway for the growth cardiovascular transdermal drug delivery segment globally.

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Market Segmentation

Our in-depth analysis has segmented global transdermal drug delivery market into the following segments:

By Application

  • Cardiovascular
  • CNS
  • Pain Management
  • Dermatology
  • Others

By Technology

  • Electric current
  • Mechanical arrays
  • Thermal Ablation
  • Chemical Enhancers
  • Others

By Region

Global transdermal drug delivery market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers & Challenges

Factors such as growth in chronic disease prevalence and increasing geriatric population across the globe are benefitting the growth of transdermal drug delivery market. Apart from this, growing spending on healthcare by the population is anticipated to positively impact the growth of the market. Transdermal drug delivery devices such as patch find their major application in insulin delivery to diabetic patients. Further, rising number of diabetic patients across the globe are likely to increase the consumption of transdermal drug delivery patch which in turn is expected to drive the growth of the market.  

According to WHO, there were about 422 million people across the globe were reported to be suffering from diabetes in 2017. Moreover, as per American Diabetes Association, more than 1.5 million Americans are diagnosed with diabetes every year. This growing prevalence of diabetes in various countries signals promising growth of transdermal drug delivery market in upcoming years. In recent years, several new drugs launch has been witnessed which can be delivered through transdermal route. These positive market activities are likely to spearhead current and future growth prospects of the market. Furthermore, approval of various transdermal delivery patches by the government pharmaceutical licensing agency in the previous year indicates the attractiveness of transdermal drug delivery market. However, the high cost of transdermal drug delivery technologies such as radio frequency, electroporation and others is anticipated to hamper the growth of transdermal drug delivery market. The high cost of this transdermal drug delivery further creates reluctance among the population.

Key Players

  • Antares Pharma Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Bayer AG
  • ANI Pharmaceuticals Inc.
  • Novartis AG
  • Janssen Pharmaceuticals Inc.
  • Others Notable Players

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