Global Transdermal Drug Delivery Market 2021 Segmentation and By Recent Trends, Industry, Development Trends and By Regions To 2030

(AmericaNewsHour via Comtex)

In a recent published report, Kenneth Research has updated the market report for Global Transdermal Drug Delivery Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Transdermal Drug Delivery Market products.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085307

According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Transdermal Drug Delivery Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017-2023

Overview: Transdermal drug delivery system (TDDS) is an independent, distinct dosage form of drug applied to intact skin to deliver the drug at a meticulous rate to the blood. The transdermal route of governing the drugs is known to be one of the budding route for indigenous and systemic drug delivery process.

The first transdermal drug delivery system, Transderm-SCOP received US FDA approval in the year 1979 for the stoppage of nausea and vomiting. Since then the technology has greatly developed. The first-generation transdermal drug delivery majorly involved delivery of small, lipophilic, and uncharged molecules by passive diffusion technology. Maximum products that are currently available in the market belong to this generation. However, development of technology has led to the use of chemical enhancers and other energy-based techniques such as ultrasound to enhance the permeation of the drug through the skin. They belong to the second generation of transdermal products. The delivery of lidocaine is done by an iontophoretic delivery system, which was developed and marketed during this generation. A third generation of delivery systems are the ones that are currently under development including microneedles and electroporation to deliver macromolecules.

Market Analysis: The "Global Transdermal Drug Delivery Market" is estimated to witness a CAGR of 9.5% during the forecast period 2017-2023. The Transdermal Drug Delivery market is analyzed based on four segments - Product Type, Technology, Drug Type, and Regions.

Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In the North American region, the US is set to be the leading country. The Europe is set to be the second leading region and holds more than 26.3% of the market share in 2016. In Asia Pacific, India, Japan, and China is one of the most attractive countries for the players and holds huge business opportunities. RoW is set to be an emerging market in the next 5-6 years.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085307

Technology Analysis: Based on the technology types, the market is segmented into Passive and Active transdermal technology. At present the market is dominated by passive technology. However, the advent of novel technology for enhancing the permeation of drugs through skin the skin is driving the market growth. Hence the highest growth rate is expected to be in witnessed in the active transdermal drug delivery technology.

Product Types Analysis: The product types covered in the report are Patches and Gels. Transdermal Patches are likely to continue to dominate the market by 2023. Stringent regulatory approval and high cost of the transdermal drug delivery systems represents as the major challenge the growth of transdermal drug delivery market. The market is expected to be on a positive year on year growth rate, as the increase in chronic diseases prevalence and expanded application areas of the technology is expected during the forecast period.

Key Players: 3M, Boehringer Ingelheim, Johnson and Johnson, Mylan N.V., Novartis, and GlaxoSmithKline, are the key players in the market. Echo Therapeutics Inc., Noven Pharmaceuticals, Transdermal Corp, Actavis, Bayer, and Corium International, are the other key players in the market.

Competitive Analysis: The transdermal drug delivery market is highly lucrative. Many players are developing advanced technology products and if involved in expanding the application areas of these drug delivery systems. In 2017, Nemaura Pharma, a UK-based company has developed Memspatch, to increase the penetration rate of gel by three-times faster than the ones that are already available in the market. Apart from this the major players in the market are collaborating with other major players in the market. For instance, In January 2017, 3M Drug Delivery Systems entered into collaboration with Panacea Pharmaceuticals, Inc. to deliver a new therapeutic cancer vaccine directly to the dermis through the 3M Hollow Microstructure Transdermal System (hMTS).

Benefits: The report provides complete details about the usage and adoption rate of transdermal drug delivery in various therapeutic verticals and regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player's initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Download Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10085307

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us
Kenneth Research
Email: [email protected]
Phone: +1-(347)-627-0064,+1 313 462 0609

The post Global Transdermal Drug Delivery Market 2021 Segmentation and By Recent Trends, Industry, Development Trends and By Regions To 2030 appeared first on America News Hour.

comtex tracking

COMTEX_395179908/2606/2021-10-14T07:46:42