According to Stratistics MRC, the Global Transdermal Drug Delivery System market is accounted for $16.32 billion in 2015 and is expected to reach $36.58 billion by 2022 growing at a CAGR of 12.2%. Rising aged population, rising occurrence of chronic diseases such as diabetes and cancer and high demand for drugs for diseases requiring long-term treatment, such as diabetes are some of the factors fueling the market. Technological advancements such as inclusion of microneedles in transdermal patches, provide opportunity to the market growth.
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Mechanical Array segment accounted for the largest share in the market during the forecast period owing tavailability of different forms of microneedle transdermal systems. North America accounted for the largest share in the market. The growth is attributed thigh number of product launches and R&D investments.
Some of the key players in Transdermal Drug Delivery Systems market include Transdermal Technologies, Inc., EchTherapeutics, Inc., Johnson & Johnson, 3M Company, Watson Pharmaceuticals, Inc, Novartis AG, Boehringer Ingelheim GmbH, Mylan Pharmaceuticals, Inc, 4P Therapeutics, LLC, Skyepharma PLC, Noven Pharmaceuticals, Inc and Biogel Technology, Inc.
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