The global transdermal drug delivery systems market is expected to witness strong growth during the forecast period between 2021 and 2031.
Transdermal refers to a mode of drug administration, in which products are dispensed through the skin in a bid to arrive at systemic distribution of the product.
Transdermal drug delivery systems are dosages that are manufactured to offer a therapeutic drug, in required amounts, to a patient’s skin. A few benefits of transdermal drug delivery systems include lowered side effects, painless application, higher bioavailability, and even plasma levels.
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It is anticipated that transdermal drug delivery systems market will witness greater demand with the development in mhealth segment, with patients having the option to understand the benefits of these systems and avail different features could help market growth as well.
Transdermal Drug Delivery Systems Market – Trends and Opportunities
Surge in demand for self-administration of drugs for long-term treatment of different disorders is the key growth driver for global transdermal drug delivery systems market.
Also, growing patient preference for pain-free drug administration is expected to result in increased adoption for adhesive skin patches is anticipated to fuel the demand for transdermal drug delivery systems and help create revenue-generating opportunities for prominent market players.
Advancements to existing transdermal drug delivery systems is expected to fuel the demand and contribute to overall transdermal drug delivery systems market growth.
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Other factors such as development in mhealth segment with advent of novel applications with improved features that assist patients book appointments could help the segment emerge as largest revenue generator in future.
Hospital end-user segment is expected to make the largest contribution, in terms of revenue, to overall transdermal drug delivery systems market because of growing demand for transdermal drug delivery systems to treat patients suffering from various diseases.
Transdermal Drug Delivery Systems Market – Regional Assessment
The global transdermal drug delivery systems market is classified into five regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
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Asia Pacific is expected to emerge as maximum revenue-generating region in global market because of rising population sections suffering from chronic diseases and growing awareness about disease management in both developed and developing countries such as China and India.
North America is expected to offer significant growth opportunities for leading market players due to factors such as repositioning of older, failed drugs and advancements to existing drug formulations in countries such as US and Canada.
Europe is projected to witness strong growth in global transdermal drug delivery systems market because of presence of developed healthcare infrastructure facilities in countries such as UK and Germany.
Transdermal Drug Delivery Systems Market – Competitive Landscape
The global transdermal drug delivery systems market is highly competitive, with the presence of several prominent players. Many of these players are expected to account for a large share in overall market, in future.
Prominent market players could sign collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.
Leading market players could also invest in mhealth segment which could help the segment emerged as fastest growing market in the years ahead.
R&D undertakings could be a key, revenue-generating growth strategy for well-established transdermal drug delivery systems market players in the coming years.
Some of the leading players in the global market include GlaxoSmithKline, Novartis AG, Johnson and Johnson, Dickinson and Co., and Becton.
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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