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U.S. Transdermal Drug Delivery System Market Analysis By Technology And Application Till 2026 | Corium International; TherapeuticsMD; Johnson & Johnson; Boehringer Ingelheim GmbH

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U.S. Transdermal Drug Delivery System Market Analysis By Technology And Application Till 2026 | Corium International; TherapeuticsMD; Johnson & Johnson; Boehringer Ingelheim GmbH

November 15
04:38 2019
U.S. Transdermal Drug Delivery System Market Analysis By Technology And Application Till 2026 | Corium International; TherapeuticsMD; Johnson & Johnson; Boehringer Ingelheim GmbH

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing demand for painless drug delivery, coupled with rising demand for self-administration of drugs, is anticipated to fuel market growth. The market is also propelled by ongoing technological advancements in the field.

The U.S. transdermal drug delivery system market size is anticipated to reach USD 30.5 billion by 2026, according to a new report by Grand View Research, Inc., registering a 9.5% CAGR over the forecast period. This can be attributed to increasing demand for pain-free drug delivery and self-administration of medication. In addition, technological advancements are expected to fuel market growth. For instance, smart patches are estimated to enable auto-injection of medication and monitoring of body parameters, along with the transmission of patient-generated data, thus improving timing and accuracy of drug administration.

Transdermal patches are increasingly becoming popular amongst patient population. This can be attributed to various benefits of patches over oral administration. For instance, a patch has better bioavailability and administration from a patch can be easily terminated by patch removal. Furthermore, the patch is non-invasive, painless, and convenient to use, thus increasing patient compliance.

On the down side, high costs associated with the development of novel drug-patch combinations and high product recalls are anticipated to limit market growth. In 2019, Alvogen recalled its fentanyl patches due to a labeling error, while in 2018, Teva Pharmaceuticals recalled millions of its fentanyl patches due to drug degradation issues. Such product recalls are anticipated to increase the stringency of market regulations and pose a barrier for new entrants.

Mergers and acquisitions, product launches, and strategic collaborations are some of the key sustainable strategies undertaken by market players. For instance, in 2018, Mylan announced the availability of its Rivastigmine Transdermal System (generic version of Exelon Patch), thus expanding its product portfolio.

U.S. transdermal drug delivery system market size, by passive technology, 2015 - 2026 (USD Billion)

Request a sample Copy of the U.S. Transdermal Drug Delivery System Market Research Report @ https://www.grandviewresearch.com/industry-analysis/us-transdermal-drug-delivery-system-market/request/rs1

Further key findings from the study suggest:

  • By technology, the passive segment dominated the market in 2018, fueled by easy development process of these patches. The reservoir patch sub-segment is anticipated to witness lucrative growth over the forecast period thanks to the relatively greater control of drug delivery rate it offers

  • Based on application, pain management led the market in 2018 owing to availability of several opioids and nonopioids analgesics patches in the market. The hormone segment is likely to exhibit strong growth driven by increasing prevalence of hormone imbalance

  • Some of the key companies in the market are Corium International; TherapeuticsMD; Johnson & Johnson; Boehringer Ingelheim GmbH; Novartis AG; Mylan Pharmaceuticals, Inc.; The Tapemark Company; 3M; and AdhexPharma.

U.S. transdermal drug delivery system market share, by application, 2018 (%)

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Grand View Research has segmented the U.S. transdermal drug delivery system market on the basis of technology and application:

U.S. Transdermal Drug Delivery System Technology Outlook (Revenue, USD Million, 2015 – 2026)

  • Active

  • Passive

    • Matrix

    • Reservoir

U.S. Transdermal Drug Delivery System Application Outlook (Revenue, USD Million, 2015 – 2026)

  • CNS

    • Nausea & Vomiting

    • ADHD

  • Pain management

  • Hormone

    • Men

    • Women

  • Addiction therapies

  • Cardiology

    • Hypertension

    • Angina

  • Urology

  • Neurodegenerative

    • Parkinson’s Disease

    • Alzheimer’s Disease

Browse Related Reports:

Drug Discovery Informatics Market: https://www.grandviewresearch.com/industry-analysis/drug-discovery-informatics-market

Injectable Drug Delivery Market: https://www.grandviewresearch.com/industry-analysis/injectable-drug-delivery-devices-industry

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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