Growth in Chronic Disease Prevalence is Likely to Drive the Growth of Transdermal Drug Delivery Market at a CAGR of 7.5% During Predicted Period – Research Nester

Global transdermal drug delivery market reached USD 4,200.3 Million in 2016 and is expected thrive at a CAGR of 7.5% over the forecast period i.e. 2017-2024. Factors such as growth in chronic disease prevalence and increasing geriatric population across the globe are benefitting the growth of transdermal drug delivery market. Apart from this, growing spending on healthcare by the population is anticipated to positively impact the growth of the market.

Global Transdermal Drug Delivery Market: Global Future Outlook (2016-2024) Demand Analysis & Opportunity Evaluation

Global transdermal drug delivery market is segmented on the basis of application into cardiovascular, CNS, pain management, dermatology and others. Further, global cardiovascular transdermal drug delivery market is anticipated to reach USD 1,911.3 Million by the end of 2024. This growth of cardiovascular transdermal drug segment can be attributed to growing number of patients with cardiovascular disorders. This growth in cardiovascular segment is making headway for the expansion of the transdermal drug delivery market across all regions. Further, cardiovascular transdermal drug delivery segment is projected to achieve Y-o-Y growth rate of 9.9% in 2024 as compared to previous year.

Global Transdermal Drug Delivery Market reached at remarkable revenue in 2016 by registering a notable CAGR across the globe. Moreover, the market is expected to garner USD 7,358.0 Million by the end of 2024. Moreover, the global market is projected to grow on the back of Factors such as growing pharmaceutical industry, increasing global population, rising number of chronic patients.  Besides, high adoption rate of advance technologies in developed regions is also expected to impel the growth of transdermal drug delivery market across the globe.

In application segment, cardiovascular segment has dominated the global transdermal drug delivery market with a market share of 23.5% in 2016 and anticipated to flourish at a CAGR of 8.8% over the forecast period. With growing number of patients with cardiovascular disorders, cardiovascular segment is making headway for the expansion of the transdermal drug delivery market.

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Rising Prevalence of Diseases

Factors such as growth in chronic disease prevalence and increasing geriatric population across the globe are benefitting the growth of transdermal drug delivery market. Apart from this, growing spending on healthcare by the population is anticipated to positively impact the growth of the market

Wide Application Possibilities

Transdermal drug delivery devices such as patch find their major application in insulin delivery to diabetic patients. Further, rising number of diabetic patients across the globe are likely to increase the consumption of transdermal drug delivery patch which in turn is expected to drive the growth of the market. However, side effects from transdermal drug delivery are anticipated to restrict the growth of transdermal drug delivery market. Further, skin irritation associated with the use of transdermal drug delivery is anticipated to restrain the growth of global transdermal drug delivery market.

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The report titled Global Transdermal Drug Delivery Market: Global Future Outlook (2016-2024) Demand Analysis & Opportunity Evaluationdelivers detailed overview of the global transdermal drug delivery market in terms of market segmentation by technology, by application, and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global transdermal drug delivery market which includes company profiling of Antares Pharma Inc., Bayer AG, ANI Pharmaceuticals Inc., Novartis AG, Janssen Pharmaceuticals Inc. and other notable players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global transdermal drug delivery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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