The Global Transdermal Drug Delivery Market is estimated to witness a CAGR of 9.5% during the forecast period 2017-2023
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In the North American region, the US is set to be the leading country. The Europe is set to be the second leading region and holds more than 26.3% of the market share in 2016. In Asia Pacific, India, Japan, and China is one of the most attractive countries for the players and holds huge business opportunities. RoW is set to be an emerging market in the next 5-6 years.
Based on the technology types, the market is segmented into Passive and Active transdermal technology. At present the market is dominated by passive technology. However, the advent of novel technology for enhancing the permeation of drugs through skin the skin is driving the market growth. Hence the highest growth rate is expected to be in witnessed in the active transdermal drug delivery technology.
The product types covered in the report are Patches and Gels. Transdermal Patches are likely to continue to dominate the market by 2023. Stringent regulatory approval and high cost of the transdermal drug delivery systems represents as the major challenge the growth of transdermal drug delivery market. The market is expected to be on a positive year on year growth rate, as the increase in chronic diseases prevalence and expanded application areas of the technology is expected during the forecast period.
3M, Boehringer Ingelheim, Johnson and Johnson, Mylan N.V., Novartis, and GlaxoSmithKline, are the key players in the market. Echo Therapeutics Inc., Noven Pharmaceuticals, Transdermal Corp, Actavis, Bayer, and Corium International, are the other key players in the market.
The transdermal drug delivery market is highly lucrative. Many players are developing advanced technology products and if involved in expanding the application areas of these drug delivery systems. In 2017, Nemaura Pharma, a UK-based company has developed Memspatch, to increase the penetration rate of gel by three-times faster than the ones that are already available in the market. Apart from this the major players in the market are collaborating with other major players in the market. For instance, In January 2017, 3M Drug Delivery Systems entered into collaboration with Panacea Pharmaceuticals, Inc. to deliver a new therapeutic cancer vaccine directly to the dermis through the 3M Hollow Microstructure Transdermal System (hMTS).
Key Topics Covered:
1 Industry Outlook 1.1 Industry Overview 1.2 Industry Trends 1.3 Total Addressable Market
3 Market Snapshot 3.1 Market Definition 3.2 Segmented Addressable Market 3.2.1 Components of Transdermal Patch 3.2.2 Advantages of Transdermal Drug Delivery 3.2.3 Disadvantages of Transdermal Drug Delivery 3.2.4 Diseases Treated by Transdermal Drug Delivery Systems 3.2.5 Trends in Transdermal Drug Delivery Market 3.3 Related Markets 3.3.1 Active Pharmaceutical Ingredients 3.3.2 Pulmonary Drug Delivery Systems 3.3.3 Injectable Drug Delivery Systems
4 Market Outlook 4.1 Overview 4.2 Market Segmentation 4.3 Porter 5(Five) Forces 4.4 PEST Analysis
5 Market Characteristics 5.1 Market Dynamics 5.1.1 Drivers 126.96.36.199 Increasing aging population 188.8.131.52 Growing patient base of chronic diseases 184.108.40.206 Increasing demand for transdermal drug delivery 5.1.2 Opportunities 220.127.116.11 Increased healthcare spending 18.104.22.168 Increasing clinical trials and product launches 5.1.3 Restraints 22.214.171.124 Side effects of transdermal drug delivery 126.96.36.199 Delivery limitation through skin 188.8.131.52 Availability of alternative drug delivery systems 5.2 DRO - Impact Analysis 5.3 Key Stakeholders