Transdermal Drug Delivery Devices Market Size Worth $79.83 Billion By 2025 | CAGR: 8.9%
Published Date : 08 / 11 / 17 | Report Format: PDF
The global transdermal drug delivery devices market is expected to grow at growth rate of 8.9% to reach USD 79.83 billion by 2025.
Transdermal drug delivery system is defined as the administration of the drugs through skin for the systemic circulation at a predetermined rate of time. Skin comprises of three distinct however internally dependent tissues. The layer has been categorized into vascular, stratified, and cellular epidermis. Over the past few decades, transdermal drug delivery devices market is seen upward trend over the past few years. Due to technological advancements, which improve the drug absorption ability through the skin pores without rupturing the skin tissues, transdermal drug delivery has become widely accepted route of drug administration among the companies.
This market is driven by rising demand for pain free drug delivery across the globe. For example, in diabetes condition, insulin is to be administered 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. Thus, in order to reduce pain and risk associated with injections, adoption rate of needle free drug delivery systems, such as transdermal patches have increased significantly over the years, thus it is presumed to grow lucratively over the forecast period. Other factors such as advancement in technologies, rising awareness level, increasing companies’ investment and other supported the market growth. However, high amount of research and development investment involved in the development of new technology of transdermal delivery systems acts as a key factor contributing towards their high costs. This high cost is expected to hamper the market growth.
The market is primarily categorized into two categories such as technology and application. In terms of technology, the market is analyzed as Thermal, Mechanical arrays, Ultrasound, Microporation, Electroporation, Iontophoresis, and Others. Microporation recorded USD 1.3 billion in 2016 and is anticipated to grow with the decent growth rate over the future period. Increasing usage of this technique in hospitals and clinics supported the market growth.
The market, by application is divided into CNS, Pain Management, Hormone and Others. Among different application area, pain management is considered to be the largest revenue generating segment, accounted for more than 5.1 billion in 2016. Availability of wide range of therapeutics that can be used for transdermal delivery for pain treatment helped this segment to augment the market growth.
Companies such as Novartis, Johnson & Johnson, Mylan, Boehringer Ingelheim, Biogel Technologies Inc., and Transdermal Technologies Inc. are operating in this market. Strategic merger and acquisitions and rising research and development acitivities to introduce new delivery system is considered to be the primary strategies of companies to expand their market share.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
- Mechanical arrays
- Pain Management
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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