LONDON--(BUSINESS WIRE)--The global transdermal drug delivery market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global transdermal drug delivery market size is the advantages over parenteral and oral routes of administration. Although oral drug delivery is commonly used due to patient compliance and cost-effectiveness, they have some limitations, such as incomplete delivery of drugs to the site of action due to the unpredictability of gastrointestinal absorption. Similarly, the parenteral route of administration is invasive and painful. Thus, the preference for transdermal drug delivery is increasing significantly. Transdermal drug delivery is a non-invasive delivery of medication to the site through the skin surface. Transdermal patches can deliver the drug at a predetermined rate across the skin to achieve local and synthetic effects. They can also ensure controlled absorption and uniform plasma drug concentration. Such advantages of transdermal drug delivery have increased patient compliance, thereby driving the market’s growth.
As per Technavio, the availability of penetration enhancers used in transdermal drug delivery will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global transdermal drug delivery market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global transdermal drug delivery market: Availability of penetration enhancers used in transdermal drug delivery
Researches have been focusing on developing various ways of transferring drugs by modifying the barrier properties of the skin. Penetration enhancement is one of the emerging technologies that has increased the ability of several drugs to be taken percutaneous. Using penetration enhancement technology, drugs with short biological half-life can be easily administered through transdermal drug delivery. Hence, the availability of penetration enhancers will be a key transdermal drug delivery market trend during the forecast period.
“Apart from the availability of penetration enhancers used in transdermal drug delivery, other factors such as the repurposing of existing drugs, and R&D of microneedle-assisted transdermal drug delivery systems will have a significant impact on the transdermal drug delivery market growth during the forecast period,” says a senior analyst at Technavio.
Global transdermal drug delivery market: Segmentation analysis
This market research report segments the global transdermal drug delivery market by application (analgesics, neurological disorders, hormone replacement therapy, cardiovascular disorders, and others), and geographic regions (North America, Europe, Asia, and ROW)
The North American region led the transdermal drug delivery market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the transdermal drug delivery market in North America can be attributed to factors such as the growing prevalence of chronic diseases, such as neurological disorders, cardiovascular diseases, and diabetes, and the development of novel treatment therapies for these diseases.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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