GVR Report cover Transdermal Drug Delivery System Market Report

Transdermal Drug Delivery System Market Analysis By Technology (Electroporation, Radiofrequency, Iontophoresis, Microporation, Thermal, Mechanical Arrays, Ultrasound), By Application (Central Nervous System (CNS), Pain Management, Cardiovascular, Hormone), And Segment Forecasts, 2020 - 2024

  • Report ID: GVR-1-68038-062-0
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2013-2018
  • Industry: Healthcare

Report Overview

The global transdermal drug delivery system market accounted for USD 47.69 billion in 2019 and is expected to grow with a compound annual growth rate (CAGR) of 11.1% over the forecast period. The market is majorly driven by the increasing prevalence of chronic diseases, where conventional drug delivery systems, such as oral drugs have lower potency due to the hepatic first-pass metabolism.

The efficacious nature of these devices can be attributed to the heightened drug diffusion capabilities over conventional routes of drug delivery, namely oral, intravenous, and pulmonary. Additionally, a significant contributor to market growth is the increasing inclination of patients as well as physicians toward pain-free drug delivery, which is further presumed to drive the market demand over the forecast period. These aforementioned factors are expected to widen the scope for growth throughout the forecast period.

Moreover, high demand for self-administration of drugs for diseases requiring long-term treatment, such as in patients with diabetes, is providing a boost to this market. In the case of diabetes, insulin has to be administered into the patient's body with the help of injections in a continual manner. The frequent use of injections to deliver insulin causes pain and increase the risk of infection transmission. The rising patient preference for pain-free drug administration has led to a significant surge in the adoption rate of adhesive skin patches that administer drugs, which is anticipated to present the market with high growth potential. In addition, the incorporation of transdermal systems will promote self-reliance in patients through a significant reduction in the frequency of hospital visits and cumulative treatment costs.

U.S. Transdermal Drug Delivery System Market Size, by Technology, 2014-2024 (USD Billion)

The emergence of technological innovations, such as the inclusion of microneedles or mechanical arrays in transdermal patches, is expected to provide the market with lucrative growth opportunities over the coming years. The advancements include modifications in transdermal patch designs, incorporation of pressure-sensitive adhesives, permeation enhancers, which have resulted in enhanced drug diffusion and increased capacity to hold a greater amount of drug in the reservoir. Moreover, other innovations comprise miniaturized and advanced transdermal patches and reservoir type transdermal patches, which deliver accurate medication dosage.

Transdermal Drug Delivery System Market Trends

The rising need of self-administration of drugs is anticipated to be a high impact-rendering driver for transdermal drug delivery systems market. In addition, increasing adoption of transdermal patches, such as in the case of diabetes, which requires sustained and daily dose of insulin is expected to provide the market with growth opportunities over the forecast period.

The market is driven by technological advancements in transdermal drug delivery devices and this is anticipated to serve the market with future growth opportunities. These advancements include advanced third generation transdermal drug delivery technologies such as iontophoresis, ultrasound, microneedles or mechanical arrays.

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. This continuous use of injections to deliver insulin causes pain and increase the risk of transmittance of chronic diseases.

The high cost associated with the transdermal technology is the most critical restraining factor for the overall industry. The majority of the transdermal drug delivery systems are of fair cost, but the cost of technology and other procedural costs pertaining to transdermal drug delivery systems are high which suppresses the entry of new players in low and middle-income countries, thereby containing the overall growth of the industry.

The limited number of approved medications is the most critical restraining factor in the transdermal drug delivery market. Approvals from regulatory bodies, such as the U.S.FDA and European Union, are also mandatory for drug diffusion through transdermal patches. Transdermal patches and gels are medically approved for transdermal usage for limited number of drugs, some of which include insulin, peptides, vaccines, nicotine, nitroglycerin, estradiol, lidocaine, oxybutynin, testosterone, s-caine and fentanyl in several therapeutic applications.

Technology Insights

The mechanical arrays segment is anticipated to grow at a lucrative rate of over 12.5% throughout the forecast period. An increasing number of product launches by prominent industry players and the numerous microneedle or mechanical array transdermal products in the late phases of clinical trials exemplify the high growth potential possessed by this segment.

Application Insights

The cardiovascular segment is expected to grow at an exponential CAGR of over 12.0% during the forecast period. This exponential growth can be attributed to the increasing utilization of these systems in the treatment of angina pectoris, hypertension, and congestive heart failure. For instance, the advent of clonidine, nitroglycerin, and isosorbide dinitrate transdermal systems, used in the treatment of hypertension, have proven to be highly efficacious in treating complicated as well as uncomplicated treatment phases.

Transdermal Drug Delivery System Market Share, by Application, 2019 (%)

Regional Insights

In 2015, North America captured a sizeable share of over 50.0%. The growth in this region is majorly driven by patent expirations, resulting in more companies entering the market. In addition, reformulation of existing drug compounds, repositioning of previously failed drugs, and huge investments undertaken by prominent as well as new market entrants are also presumed to be key factors responsible for the substantial share captured by this region.

Transdermal drug delivery systems regional market of the UK is anticipated to grow at a steady rate as a consequence of initiatives undertaken by government organizations such as Healthcare UK that provides information to public & healthcare services to patients. These factors therefore are responsible for the growth of the transdermal drug delivery systems market over this region.

The Asia Pacific market is anticipated to exhibit the fastest CAGR of over 12.0% during the forecast period, which is attributable to the growing healthcare spending and the rapidly evolving healthcare infrastructure. In addition, the growth is due to the high research and development intensity as well as the growing awareness in the emerging economies, such as China and India.

Transdermal Drug Delivery System Market Trends by Region

Japan held a substantial share of the Asia Pacific transdermal drug delivery systems market over the forecast period attributing to perpetual technological innovations coupled with rising collaboration of global market players and their expansion of distribution networks are propelling the growth of transdermal drug delivery systems market in the region.

Key Companies & Market Share Insights

Some key players in this sector include 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, and Echo Therapeutics, Inc. The growth is marked by prominent industry players undertaking strategies, such as mergers and acquisitions, geographical expansions, and product launches in order to capture a greater share of this vertical. In September 2015, Novartis AG launched a transdermal patch for the treatment of Alzheimer’s disease. In addition to widening their product portfolio, this launch was carried out to cater to a larger share of patients suffering from Alzheimer’s disease.

Transdermal Drug Delivery System Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 52.98 billion

Revenue forecast in 2024

USD 81.43 billion

Growth rate

CAGR of 11.1% from 2020 to 2024

Base year for estimation

2019

Historical data

2013 - 2018

Forecast period

2020 - 2024

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; South Africa

Key companies profiled

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

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Transdermal Drug Delivery System Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global transdermal drug delivery system market report based on technology, application, and region:

Transdermal Drug Delivery System Market Segmentation

  •  Product Outlook (Revenue, USD Billion, 2013 - 2024)

    • Electroporation

    • Radiofrequency

    • Iontophoresis

    • Microporation

    • Thermal

    • Mechanical arrays

    • Ultrasound

    • Others

  •  Application Outlook (Revenue, USD Billion, 2013 - 2024)

    • Central nervous system

    • Pain management

    • Cardiovascular

    •  Hormone

    • Others

  • Regional Outlook (Revenue, USD Billion, 2013 - 2024)

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

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