Shibuya-ku, Tokyo, Japan, Japan, Jul 05, 2021, 08:05 /Comserve / -- Additionally, many large or small scale companies are actively engaged in developing novel transdermal products which will drive the market growth to great extent.
The transdermal drug delivery devices market is estimated to represent a global market of USD 32.56 billion by 2016 with growth rate of 8.9%. 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, controlled drug delivery has become widely important across the pharma industry. This is the reason; 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. It is being justified by the fact that in last few years, approximately 35 transdermal products are approved by the U.S. FDA. Transdermal drug delivery system is defined as the administration of the drugs through skin for the systemic circulation at a predetermined rate of time. The industry is growing constantly and currently represent around 12% of the global drug delivery system market. Benefits of this drug delivery systems are considered to be the primary driving factor for the market growth. For example, transdermal drug delivery offers effective use of therapeutics with short biological half-life, allow drug administration with narrow therapeutics window, and avoid drug degradation in acidic medium.
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Additionally, many large or small scale companies are actively engaged in developing novel transdermal products which will drive the market growth to great extent. For example, in December 2015, 4P Therapeutics LLC demonstrated the preclinical, proof of mechanism for the Transdermal Follicle Stimulating Hormone delivery patch in infertility treatment. This demonstration was done to exhibit the preclinical efficacy of this system in reducing patient pain and thus improving patient compliance. Such initiatives will increase the product penetration hence drives the market growth. However, large molecular size therapeutics are not recommended to administer through this delivery system owing to its potential side effects, leading to hamper the market growth to some extent.
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. Iontophoresis segment is accounted for the largest share of the global market, captured 17.23% share of the market in 2016. High efficiency coupled with ability of this technique to administer wide range of particles drive segment growth. These drug molecules primarily include insulin, hormones, proteins, and peptides. In its ability to deliver anionic, cationic, and hydrophilic drugs, is also responsible for the significant revenue of this segment.
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.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.
The years considered for the study are:
Historical Year – 2014 & 2015
Base Year – 2015
Estimated Year – 2016
Projected Year – 2025
Traders, Distributors, And Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TECHNOLOGY
MARKET, BY APPLICATION
MARKET, BY REGION
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
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