The global Transdermal Drug Delivery System Market accounted for USD 31.6 billion in 2015. 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.
North America Transdermal Drug Delivery System Market, by Technology, 2013 - 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.
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.
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.
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.
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.
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.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.