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Due to Increase in Chronic Diseases Predominating Transdermal Drug Delivery Systems Market to Consume a Prevailing Double-Digit CAGR of 11.8% During Forecast 2018-2023
Transdermal (Percutaneous) Drug Delivery Systems Market Research Report: by Product (Transdermal Patches, Semisolids), Technology (Electric Current, Iontophoresis, Electroporation, Ultrasound, Microporation), and Application (HRT) — Global Forecast till 2023
Market Research Future (MRFR) states that the global Transdermal Drug Delivery Systems Market had created a value of USD 5,400.2 MN in 2017. This market value is expected to appreciate at a double-digit CAGR of 11.8% throughout the forecast period (2018 – 2023). Increasing cancer cases is a major driving force pushing upmarket growth.
Transdermal Drug Delivery Systems (TDDS) are used to administer medications through the skin to the circulatory system. TDDS deliver drugs at a predetermined rate and maintain sufficient concentrations clinically to ensure a quick response. TDD devices are commonly used for pain management and during treatments of chronic diseases like cardiovascular diseases, cancer, and diabetes.
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- Mylan N.V.
- Hisamitsu Pharmaceutical Co
- Novartis International AG
- Boehringer Ingelheim International GmbH
- GlaxoSmithKline PLC
- Johnson & Johnson Services
- Endo Pharmaceuticals Inc
- UCB S.A
- Pfizer Inc
- Allergan plc
- Actelion Pharmaceuticals Ltd
- Noven Pharmaceuticals
The report is segmented into four market dynamics to widen the scope of understanding,
By Product : Transdermal Patches (Drug-In-Adhesive Patches, Matrix Patches, Reservoir Membrane Patches, and Microneedle Patches) and Transdermal Semisolids (Gels, Ointments, and Sprays), among others.
By Technology : Electric Current, Iontophoresis, Electroporation, Ultrasound, Microporation, Thermal, among others.
By Application (HRT) : Pain Management, Cardiovascular Diseases, Hormone Replacement Therapy, Central Nervous System Disorders, Smoking Cessation, and Contraception, among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
North America dominates the global transdermal (percutaneous) drug delivery systems market with the largest market share. Factors such as the presence of major market players and developed healthcare infrastructure drive the growth of the regional market. Moreover, surging numbers of research activities related to transdermal drug delivery systems and comparatively higher adoption of TDD systems in the US and Canada impact the regional market growth, positively.
Besides, the highest GDP helps North America to have the edge over other regions in terms of every aspect, including healthcare and technology. Additionally, huge patient pool suffering from chronic diseases such as cardiovascular diseases alongside the presence of geriatric population and development in medical technology is supporting the growth of the market. The US, backed by the high per capita healthcare expenditures, contributes to the growth of the regional market, significantly.
Industry/ Innovation/ Related News:
September 10, 2019 ---- Futura Medical plc (the UK), a leading global pharmaceutical company, announced a joint venture collaboration with CBDerma Technology Limited (the UK), to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of Cannabidiol.
Besides, its portfolio of innovative products based on its proprietary transdermal drug delivery technology, Futura Medical is currently focusing on the development of its pipeline of products which are in the late stage. CBDerma Technology was established and funded to exploit the therapeutic potential of cannabis specifically.
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