Pandemic's Influence: Impact of Covid-19 on the Transdermal Drug Delivery Systems Market |CAGR of 4.9% from 2021 to 2030

PORTLAND, OREGON, UNITED STATES, September 25, 2023 /EINPresswire.com/ -- The transdermal drug delivery systems market size was $52.5 billion in 2020, and is estimated to reach $87.3 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Active segment is expected to witness significant growth during the forecast period.

The motion sickness segment is anticipated to grow rapidly, with a CAGR of 6.3% during the forecast period

Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.

Increase in global population & geriatric medicine and rise in number of patients suffering from chronic diseases including heart diseases, arthritis, and diabetes have boosted the growth of the global transdermal drug delivery systems market. In addition, advancements in transdermal drug delivery systems would open new opportunities in the future.

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Covid-19 scenario:

The Covid-19 pandemic negatively impacted the market due to prolonged lockdown. However, the pandemic increased the importance of government healthcare facilities and healthcare spending across the globe.

Decrease in number of Covid-19 cases led to reopening of transdermal drug delivery system research facilities, which will help the market get back on track.

Market Segmentation:

Product Type:

Patches: This includes both single-layer and multi-layer patches designed for different drug release profiles.
Gels: Topical gels or creams designed for transdermal drug delivery.
Lotions: Similar to gels, lotions are used for delivering drugs through the skin.
Sprays: Transdermal sprays that deliver drugs in a fine mist.

Application:

Pain Management: Transdermal patches and gels for pain relief, such as opioids or non-steroidal anti-inflammatory drugs.
Hormone Replacement Therapy (HRT): Patches or gels for hormone delivery, including estrogen and testosterone.
Cardiovascular Disorders: Transdermal systems for delivering medications to manage heart-related conditions.
Neurological Disorders: For conditions like Alzheimer's disease or Parkinson's disease.
Smoking Cessation: Patches for nicotine replacement therapy.
Technology:

Matrix Systems: Drug is uniformly dispersed in a polymer matrix.
Reservoir Systems: Drug is contained in a reservoir, and a membrane controls the release.
Drug-in-Adhesive Systems: Drug is dispersed in the adhesive layer of the patch.
Micro-needle Patches: Patches with tiny needles that penetrate the skin to deliver drugs.
Iontophoresis: Use of electrical current to enhance drug penetration.

Distribution Channel:

Retail Pharmacies: Patches and products available over the counter.
Hospitals and Clinics: Prescribed transdermal drug delivery systems.
Online Pharmacies: Increasingly popular for OTC sales.

End-User:

Patients: Individuals using transdermal patches or products for personal use.
Healthcare Providers: Hospitals, clinics, and doctors who prescribe and administer transdermal drug delivery systems.
Homecare Settings: Home healthcare agencies and providers.

Region:

Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)

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Regional Growth Dynamics:

The global transdermal drug delivery systems market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than two-fifths of the market. However, market across Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.

Key Findings of the Study

The report provides an extensive analysis of the current and emerging transdermal drug delivery systems market trends and dynamics.
Depending on type of delivery, the passive dominated the transdermal drug delivery systems market, in terms of revenue in 2020 and the active segment is projected to grow at a significant CAGR during the forecast period.
By application, the analgesics segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the transdermal drug delivery systems market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the transdermal drug delivery systems industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.

Competitive Landscape:

Purdue Pharma L.P.
Boehringer Ingelheim GmbH
Johnson & Johnson
Bayer AG, Altaris
Endo International plc
Viatris Inc.
GlaxoSmithKline plc
Novartis AG
Hisamitsu Pharmaceutical Co. Inc.

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VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report

Comprehensive quantitative and qualitative insights at segment and sub-segment level

Covid 19 impact trends and perspective

Granular insights at global/regional/country level

Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment

Blanket coverage on competitive landscape

Winning imperatives

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