Research Nester has released a report titled “Transdermal Patch Drug Delivery System Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers a detailed overview of the global transdermal patch drug delivery system market in terms of market segmentation by product type, by type, by application, by end-user, by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global transdermal patch drug delivery system market is segmented by application into pain management, central nervous system, hormonal application, cardiovascular disease and others, out of which the pain management segment is anticipated to witness leading market share on account of rise in the number of chronic pain cases occurred from unhealthy lifestyle of people. Additionally, demand for better pain relief mechanism drugs and rise in the number of patients with diseases such as migraine, cervical spondylitis, atherosclerosis and others are estimated to drive the growth of the market in the segment.
The transdermal patch drug delivery system market is anticipated to record a CAGR of around 6.0% over the forecast period, i.e. 2019-2027. Growing number of chronic diseases along with rising awareness amongst people, coupled with various other factors, such as feature of painless application, non-invasive nature of drug, rise in the number of geriatric population, all of these factors are estimated to promote the demand for transdermal patch drug delivery system throughout the forecast period.
Regionally, the transdermal patch drug delivery system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold leading market share on the account of presence of market key players and huge pool of drug manufacturers in the region.
Additionally, Europe is expected to witness market growth on the back of rising number of incidences caused from skin diseases and growing adoption of patch drug delivery system for the characteristics of reduced pain absorbed by the patient.
Growing Medical Advancements
The drug delivery system market has observed dynamic changes in medical advancement processes owing to developments, for instance, TEPI patches and others, which utilizes adhesives that are pressure sensitive and provides the benefit in the dosing period by remaining in contact with the skin. Additionally, other developmental features, such as prolonged therapeutic effect, improved bio availability and ease of application among others are some of the features which is contributing significantly towards the growth of the market.
However, restrictions observed in the drug delivery process with the skin on the penetration of drug molecules causes side effects, such as irritation, erythema and local edema, coupled with competition from oral pharmaceuticals are expected to operate as key restraints to the growth of global transdermal patch drug delivery system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global transdermal patch drug delivery system market which includes company profiling of ProSolus Inc., Tapemark, tesa Labtec GmbH, NITTO DENKO CORPORATION (TYO: 6988), Noven Pharmaceuticals, Inc., LTS Lohmann Therapie-Systeme AG, Medherant Limited, Corium Inc., Antares Pharma (NASDAQ: ATRS) and Medipatch Technologies And Consulting.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global transdermal patch drug delivery system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.