CHICAGO, January 8, 2019
CHICAGO, January 8, 2019 /PRNewswire/ --
According to the new market research report "Transdermal Drug Delivery System Market by Type (Patches and Semisolid formulations), Applications (Pain Management, Central Nervous System Disorders, Hormonal Applications, Cardiovascular Diseases), End User, and Region - Global Forecast to 2023", published by MarketsandMarkets™, 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).
Don't miss out on business opportunities in Transdermal Drug Delivery Systems Market.
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 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.
Browse in-depth TOC on "Transdermal Drug Delivery Systems Market"
71 - Tables
35 - Figures
133 - Pages
Get Free 10% Customization on this Report:
The transdermal patches segment is expected to grow at the highest CAGR during the forecast period
On the basis of type, the Transdermal Drug Delivery Systems Market is segmented into transdermal patches and transdermal semisolids. In 2018, the transdermal patches segment is expected to account for the larger share of the Transdermal Drug Delivery Systems Market. This drug delivery system offers several advantages, such as reduced dosing frequency, improved bioavailability, reduced adverse events, and drug input termination at any point by the removal of the patch. Also, the use of patches results in increased patient compliance due to their non-invasive nature and painless application. These factors are expected to drive market growth.
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.
Inquiry Before Buying:
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).
Browse Adjacent Markets: Medical Devices Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/transdermal-drug-delivery-system-market.asp
Visit Our Website: https://www.marketsandmarkets.com