Transdermal Drug Delivery Systems is Powered by the Increasing Incidence of chronic Diseases
The total value of the transdermal drug delivery systems market was USD 4.2 billion in 2023, and it will power at a compound annual growth rate of 4.7% by the end of this decade, to touch USD 5.8 billion in 2030.
The sector is mostly driven by the rising incidence of chronic illnesses, and for the same, a conservative drug delivery system is weaker than required due to hepatic first-pass metabolism. What is meant by this is that, when utmost oral drugs enter the liver, they are mostly digested before reaching the targeted tissue, therefore bringing about insufficient efficacy.
More than one billion people at a global level smoke cigarette, with incidence continuing to be high in spite of surveillance, educational, and supply restriction efforts on the international and national levels.
This factor is driving the requirement for transdermal nicotine patches for ages. If the reports are to be believed, as opposed to a placebo administered for a year, nicotine patches are 50–60% more successful in helping individuals give up cigarettes.
The iontophoresis category is the leader of the pack, based on technology. This approach is recognized to advance skin penetration and advance the rate of release of medicines displaying poor absorption or infusion in the body.
The pain management category leads the industry. This is mostly owing to the mounting occurrence of chronic pain attributable to amputations, arthritis, nervous system ailments, and further conditions.
If the estimates are to be believed, 20% of the adult populace on earth is a victim of lasting pain. Chronic pain is a key reason for lost productivity and further emotional and psychological trauma, which is the reason transdermal analgesia is attaining growing acceptance.
North American transdermal drug delivery systems market is the leader. The expansion in this continent is chiefly driven by patent expirations, letting more businesses to enter the industry with generic alternatives of these devices.
Also, the relaunch of previously failed drugs for subcutaneous delivery and the vast spending by the stalwarts on related research and development are key reasons for the substantial share seized by this region.
Furthermore, the advantageous insurance situation and consciousness creation efforts by government institutions drive the industry in Europe. The region’s sophisticated healthcare infra and the robust government emphasis on public health propel the industry too.
Additionally, the continent has many important medical device and R&D institutes, which leads to the fast acceptance of cutting-edge healthcare technologies. Due to the growing incidence of chronic illnesses all over the world, the demand for transdermal drug delivery systems is on the rise. This trend will continue in the years to come as well.
SOURCE: P&S Intelligence
