Transdermal Drug Delivery Systems Market to Hit $87.32 Billion by 2030: Allied Market Research
Increase in global population & geriatric medicine and rise in number of patients suffering from chronic diseases including heart diseases, arthritis, and diabetes have boosted the growth of the global transdermal drug delivery systems market. The market across North America held the lion’s share in 2020, accounting for more than two-fifths of the market. The Covid-19 pandemic negatively impacted the market due to prolonged lockdown.
Portland, OR, June 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global transdermal drug delivery systems market generated $52.47 billion in 2020, and is expected to reach $87.32 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030.
Increase in global population & geriatric medicine and rise in number of patients suffering from chronic diseases including heart diseases, arthritis, and diabetes have boosted the growth of the global transdermal drug delivery systems market. In addition, advancements in transdermal drug delivery systems would open new opportunities in the future.
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Covid-19 scenario:
The Covid-19 pandemic negatively impacted the market due to prolonged lockdown. However, the pandemic increased the importance of government healthcare facilities and healthcare spending across the globe.
Decrease in number of Covid-19 cases led to reopening of transdermal drug delivery system research facilities, which will help the market get back on track.
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The report segments the global transdermal drug delivery systems market on the basis of type of delivery system, application, and region.
Based on type of delivery system, the passive segment held the largest share in 2020, accounting for nearly three-fifths of the market. However, the active segment is projected to register the highest CAGR of 5.6% during the forecast period.
On the basis of application, the analgesics segment held the largest share in 2020, contributing to around one-third of the market. However, the motion sickness segment is estimated to manifest the highest CAGR of 6.3% from 2021 to 2030.
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The global transdermal drug delivery systems market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than two-fifths of the market. However, market across Asia-Pacific is anticipated to portray the highest CAGR of 6.1% during the forecast period.
The global transdermal drug delivery systems market includes an in-depth analysis of the prime market players such as Viatris Inc., Bayer AG, Boehringer Ingelheim GmbH, Endo International plc, GlaxoSmithKline plc., Johnson & Johnson, Novartis AG, Purdue Pharma L.P., Altaris, and Hisamitsu Pharmaceutical Co. Inc.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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