- The pain management segment is anticipated to witness leading market share.
- North America is anticipated to hold leading shares.
- Restrictions observed in the implementation of transdermal patch drug delivery system are expected to be barriers to growth.
With the increasing awareness about the use of transdermal patches for drug delivery owing to its ease of application and noninvasive nature, the market is expected to record a CAGR of around 6.0% during the forecast period, i.e. 2019-2027. The rise in geriatric population is expected to drive the market growth on the back of increasing chronic disease cases and convenience of application for old age groups.
Transdermal Patch Drug Delivery System is referred to the method of delivering drugs through skin directly into the blood stream, usually with a syringe. The patches are designed to provide controlled delivery and continuous administration, along with numerous benefits such as easily consumable process, minimum side effects and being non-invasive in nature.
The global transdermal patch drug delivery 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 owing to increasing cases of chronic pain, better pain relief mechanism of drug delivery system and growing diseases amongst people.
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On the basis of region, the transdermal patch drug delivery market is segmented by five major regions into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. North America is anticipated to hold leading shares owing to huge pool of manufacturers and presence of key market players of the pharmaceutical industry in the region. Additionally, Europe is expected to witness significant market growth on the back of increasing skin disease incidences and rise in adoption of patch drug delivery system as a pain free system.
However, restrictions observed in the implementation of transdermal patch drug delivery system into the skin owing to the size of the drug molecule and barrier by the skin for the patch being an external agent among others, coupled with competition from oral pharmaceutical drugs, owing to its easy drug delivery procedures to patients, is estimated to act as barriers to the growth of the market during the forecast period.
This report also studies existing competitive scenario of some of the key players of the zero waste packaging market, which includes profiling:
- ProSolus Inc.
- tesa Labtec GmbH
- NITTO DENKO CORPORATION (tyo:6988)
- Noven Pharmaceuticals, Inc.
- LTS Lohmann Therapie-Systeme AG
- Medherant Limited, Corium Inc.
- Antares Pharma ATRS, -2.58% and Medipatch Technologies And Consulting
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Transdermal Patch Drug Delivery System Market: Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall transdermal patch drug delivery system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the transdermal patch drug delivery system market in the near future.
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