Growing Geriatric Population Influencing Transdermal Drug Delivery Systems Market is Suspected to Grow a Promising Double-Digit CAGR of 11.8% During Forecast 2018-2023

Market Overview:

Market Research Future (MRFR) states that the global Transdermal Drug Delivery Systems Market had created a value of USD 5,400.2 MN in 2017. This market value is expected to appreciate at a double-digit CAGR of 11.8% throughout the forecast period (2018 – 2023). Increasing cancer cases is a major driving force pushing upmarket growth.
Transdermal Drug Delivery Systems (TDDS) are used to administer medications through the skin to the circulatory system. TDDS deliver drugs at a predetermined rate and maintain sufficient concentrations clinically to ensure a quick response. TDD devices are commonly used for pain management and during treatments of chronic diseases like cardiovascular diseases, cancer, and diabetes.
The transdermal drug delivery systems market is growing rapidly over recent years, mainly due to the growing geriatric population and the prevalence of chronic diseases. Moreover, rapid advancements and increasing adoption of transdermal drug delivery technology are expected to accelerate the growth of the market during the forecast period.
Furthermore, the increasing occurrence of needle-stick injuries and growing uses of biologics are driving market growth. Substantial investments drawn in the R&D to develop advanced TDD systems are boosting the growth of the market, significantly. Additionally, spreading awareness, improving outcomes & patients’ experience, and beneficial reimbursement policies impact the market growth, positively.

Browse Full Report Details and TOC Exclusively@ https://www.marketresearchfuture.com/reports/transdermal-drug-delivery-systems-market-7545

Competitive Landscape:

The transdermal drug delivery systems market appears to be fiercely competitive and fragmented due to the presence of many well-established players. To garner a bigger share in the market, brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players. 

Major Players:

·         Mylan N.V.
·         Hisamitsu Pharmaceutical Co
·         Novartis International AG
·         Boehringer Ingelheim International GmbH
·         GlaxoSmithKline PLC
·         Johnson & Johnson Services
·         Endo Pharmaceuticals Inc
·         UCB S.A
·         Pfizer Inc
·         Allergan plc
·         Actelion Pharmaceuticals Ltd
·         Noven Pharmaceuticals

Segmentation:
The report is segmented into four market dynamics to widen the scope of understanding,
By Product                        : Transdermal Patches (Drug-In-Adhesive Patches, Matrix Patches, Reservoir Membrane Patches, and Microneedle Patches) and Transdermal Semisolids (Gels, Ointments, and Sprays), among others.
By Technology                     : Electric Current, Iontophoresis, Electroporation, Ultrasound, Microporation, Thermal, among others.
By Application (HRT) :  Pain Management, Cardiovascular Diseases, Hormone Replacement Therapy, Central Nervous System Disorders, Smoking Cessation, and Contraception, among others.
By Regions                        : Europe, North America, APAC, and the Rest-of-the-World (RoW).

Geographical Analysis:

North America dominates the global transdermal (percutaneous) drug delivery systems market with the largest market share. Factors such as the presence of major market players and developed healthcare infrastructure drive the growth of the regional market. Moreover, surging numbers of research activities related to transdermal drug delivery systems and comparatively higher adoption of TDD systems in the US and Canada impact the regional market growth, positively.
Besides, the highest GDP helps North America to have the edge over other regions in terms of every aspect, including healthcare and technology. Additionally, huge patient pool suffering from chronic diseases such as cardiovascular diseases alongside the presence of geriatric population and development in medical technology is supporting the growth of the market. The US, backed by the high per capita healthcare expenditures, contributes to the growth of the regional market, significantly.
Europe takes the second-leading position in the global transdermal drug delivery systems market. The phenomenal growth in the pharmaceutical industry and the presence of pharma giant companies such as Novartis International AG, Mylan N.V., Boehringer Ingelheim International GmbH, and Allergan plc., bolster the regional market growth. The resurging economy is playing a vital role in market development, allowing the proliferation of the healthcare sector in the region.
Germany, heading with its flourishing medical devices markets, hugely contributes to the growth of the regional market. Furthermore, the UK and France with the increasing investment in transdermal drug delivery systems drive the regional market at a large scale. The Europe TDDS market is estimated to register a phenomenal CAGR during the review period.

Industry/ Innovation/ Related News:
September 10, 2019 ---- Futura Medical plc (the UK), a leading global pharmaceutical company, announced a joint venture collaboration with CBDerma Technology Limited (the UK), to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of Cannabidiol.
Besides, its portfolio of innovative products based on its proprietary transdermal drug delivery technology, Futura Medical is currently focusing on the development of its pipeline of products which are in the late stage. CBDerma Technology was established and funded to exploit the therapeutic potential of cannabis specifically. 
The benefits & applications of cannabis & Cannabidiol in both the medical and consumer markets are well known and expanding rapidly. However, optimized and targeted topical delivery of the active ingredients remains a problem. All Intellectual Property would be owned jointly by both companies.

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