Transdermal Drug Delivery System Market - Emerging Trends & Global Future Forecasts

Market growth is largely driven by the global increase in the prevalence of chronic diseases. In addition, technological advancements in transdermal drug delivery systems are also expected to support market growth in the coming years.

The transdermal drug delivery systems market is expected to reach USD 7.1 billion by 2023 from an estimated USD 5.7 billion in 2018, at a CAGR of 4.5% during the forecast period (2018-2023).

The study involved four major activities to estimate the current market size for transdermal drug delivery systems. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research.

Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size. Finally, the market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

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The pain management segment is expected to account for the largest share of the market in 2018

On the basis of application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications (smoking cessation, motion sickness, and overactive bladder treatment). In 2018, the pain management segment is expected to account for the largest share of the transdermal drug delivery systems market. Growth in this market is largely driven by the high burden of chronic pain worldwide and the growing availability of transdermal products for pain management.

Objectives Behind This Study:

# To define, measure, and describe the transdermal drug delivery systems market by applications, type, end user, and region.

# To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities).

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW.

# To strategically analyze the market structure and profile key players in the transdermal drug delivery systems market and comprehensively analyze their core competencies.

# To track and analyze company developments such as product launches and enhancements; acquisitions; expansions; and agreements, partnerships, & collaborations in the transdermal drug delivery systems market.

North America to dominate the transdermal drug delivery systems market in 2018

North America is expected to dominate the transdermal drug delivery systems market in 2018. The large share of the North American transdermal drug delivery systems market can primarily be attributed to the rising prevalence of targeted diseases (such as chronic pain, central nervous system disorders, and cardiovascular diseases) in the region, the increasing use of contraceptives, and the increasing number of research activities related to transdermal drug delivery systems.

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The key players in the transdermal drug delivery systems market are Hisamitsu Pharmaceutical (Japan), Mylan (US), UCB (Belgium), Novartis (Switzerland), GlaxoSmithKline (UK), Boehringer Ingelheim (Germany), Johnson & Johnson (US), Endo International (Ireland), and Purdue Pharma (US).