NEW YORK, May 5, 2020 /PRNewswire/ -- The transdermal drug delivery system market was valued at US$ 6,063.85 million in 2019 and is projected to reach US$ 8,415.04 million by 2027; it is expected to grow at a CAGR of 4.3% during 2020-2027. The growth of the transdermal drug delivery system market is mainly attributed to factors such as the increasing prevalence of chronic diseases, growing demand for non-invasive drug delivery devices, and high demand for self-administration of drugs. However, high cost involved in development of drug delivery systems along with drug failure and recalls of transdermal drug delivery systems are likely to restraint the growth of the market during the forecast years.

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Transdermal drug delivery systems are devices containing drug of defined surface area that delivers a pre-determined amount of drug to the surface of intact skin at a pre-predefined rate.The skin as a route for systemic drug administration has become very attractive since the introduction of transdermal therapeutic systems in the form of patches.

The discovery of transdermal drug delivery systems (TDDS) is breakthrough in the field of controlled drug delivery system.Transdermal dosage forms, as an alternative to the conventional dosage form are becoming very popular because of their unique advantages.

Like controlled zero ordered absorption, simple mode of administration and having option to terminate the action in case of adverse effect.So the TDDS makes them desirable for the treatment of chronic diseases where long term treatment is necessary.

According to the Centers for Disease Control and Prevention (CDC) in the 2019, almost 6 in 10 people in the US suffer from at least one chronic disease and 4 in 10 people have two or more chronic diseases.

Cardiovascular (CV) diseases such as atherosclerosis, angina pectoris, and acute myocardial infarction are the major cause of mortality in the whole world owing to the present day hectic lifestyle. As per the data provided by WHO, cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year. Many medications are commercially available for their treatment but the conventional tablets and capsules are unable to cope up with these situations. This augments the use of novel drug delivery systems providing targeted drug delivery and prolonged drug residence to the affected areas of the cardiovascular system. Novel drug delivery systems started with the platform application involving the introduction of transdermal patches, containing drug particles, were applied on skin. They are believed to offer many advantages over conventional oral therapies. Moreover, sizeable number of anti-hypertensive is undergoing extensive first-pass metabolism, which can be avoided by transdermal therapy. Hence, the adoption of transdermal drug delivery systems is likely to experience rapid adoption, which in turn is propelling the market growth.

Based on type, the transdermal drug delivery system market is segmented into transdermal patches and transdermal semisolids.The transdermal patch segment is further sub segmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and micro needle patches.

The transdermal semisolids segment is further sub segmented into gels, ointments and sprays.The transdermal patches segment held the largest share of the market in 2019.

Also, transdermal patches is estimated to register the highest CAGR in the market during the forecast period.

Based on application, the market is segmented into pain management, central nervous system disorders, hormonal applications, cardiovascular diseases, and other applications.The hormonal applications segment is further sub segmented into transdermal estrogen therapy and testosterone replacement.

The pain management segment held the largest share of the market in 2019; however, pain management segment is estimated to register the highest CAGR in the market during the forecast period.

Based on end user, the global transdermal drug delivery system market is segmented into hospitals and clinics, home care settings, and others. The hospitals and clinics segment held the highest share of the market in 2019; whereas, the home care settings segment is estimated to register the highest CAGR in the market during the forecast period.

The World Health Organization (WHO), Food and Drug Administration (FDA), NHS (National Health Service), and Centers for Disease Control and Prevention are some of the major primary and secondary sources referred for preparing this report.

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Transdermal Drug Delivery System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; Application ; End User ; and Geography -...