Global Transdermal Drug Delivery Devices Market - 2022-2029

Market Overview

The global transdermal drug delivery devices market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Drug delivery devices are specialized equipment used for the delivery of a drug or therapeutic agent. A transdermal drug delivery device uses a medicated adhesive skin patch that is placed on the skin to deliver a specific dose of medication into the bloodstream.

Market- Dynamics

The major factors driving the global transdermal drug delivery devices market are an increase in the number of diseases globally, rising research and development expenditure and awareness among the population regarding the advantages of transdermal drug delivery devices. An increase in novel product launches contributes to the growth of the transdermal drug delivery devices market.

The expanding areas of application of transdermal drug delivery systems and rising novel research studies are expected to drive the market's growth.

The rising adoption of these transdermal drug delivery devices for the treatment of various chronic diseases, such as neurological or cardiovascular disorders, and many more and the rising number of novel product launches drive the transdermal drug delivery devices market. An increase in diseases globally is also aiding the market growth. There has been an increase in R&D activities by many healthcare companies to develop novel products.

The transdermal drug delivery devices are used for the advantages it provides over other route of administration drug delivery such as avoiding hepatic first-pass effect reduced dosing frequency and better patient compliance. The market for these patches is increasing worldwide due to the increasing number of different diseases. Moreover, the increase in research and development of novel patches and the availability of technologically advanced products by key players are also expected to play a vital role in the market's growth.

Various novel product launches, regulatory approvals and research studies contribute to the market's growth. For instance, in October 17, 2022, Noven Pharmaceuticals. Inc., Hisamitsu Pharmaceutical Co., Inc.'s wholly owned subsidiary, focusing on the transdermal therapy development, announced about presenting its novel two pharmacokinetic (PK) modeling datasets results at the 36th annual conference of American Psychiatric Nurses Association (APNA). The data shows the investigation of dextroamphetamine transdermal system's (d-ATS) variable wear times for the Attention-Deficit/Hyperactivity Disorder (ADHD) treatment and d-ATS efficacy extrapolation from pediatric patients to adults respectively.

The limitations associated with transdermal drug delivery devices are expected to hamper the market's growth.

However, the major limitation of transdermal drug delivery patches is that they can deliver only lipophilic, small and low-dose drugs. The high molecular weight (more than 500 Dalton) and hydrophilic drug delivery via the skin's outermost layer are highly restrained. The active delivery system can enhance the extent of transmission, but it requires an external power supply, and the devices are bulky as well.

If a product is recalled, the process of retrieving and replacing the defective product may cause a company or a manufacturer to incur huge losses associated with replacing and fixing faulty products. These huge losses will affect the revenue and the company's market share, which will impact the overall market. The key challenges are less about the technology itself and more about integrating two distinct world's pharma and medical device.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The transdermal drug delivery devices market has experienced huge losses due to COVID, as various research and clinical trials got postponed. An urgent need for vaccines to prevent the spreading of COVID and its variant across the globe diverted the attention. Various initiatives, product launches, innovations, collaborations and mergers are happening worldwide, boosting the market's growth. For instance, in April 13, 2020, Noven Pharmaceuticals, Inc., Hisamitsu Pharmaceutical Co., Inc.'s wholly owned subsidiary, announced that its SECUADO (asenapine) transdermal system, approved for the treatment of schizophrenia patients by the U.S. Food and Drug Administration (FDA), is now available in the U.S. by prescription.

Segment Analysis

The micro-needle patch segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The micro-needle patch segment is the highest market holder in the global transdermal drug delivery devices market. The global transdermal drug delivery devices market is segmented based on product type: reservoir patch, matrix patch, drug-in adhesive patch and micro-needle patch. The micro-needle patch segment is the largest market shareholder due to its better advantage, efficacy and results, increasing diseases and rising adoption of these transdermal drug delivery devices.

In micro-needle patch with the sharp micro-needles (made up of ceramics and silicon) the skin tissues are pierced. As a result, there is a formation of micro-scale perforation. The perforated surface provides the pharmaceutical active ingredient passage. The micro-needle patch generally is categorized into four types: solid micro-needle, dissolving micro-needle, coated micro-needle, and hollow micro-needle patches. The solid ones are utilized as a pre-treatment for skin to develop micro-scale pores. In coated one micro-needle are directly applied to the skin, from the needle's surface the drug dissolves off and eventually transfers to the body. The dissolving micro-needles are the ones in which drugs are loaded in micro-needles formed of biodegradable polymer.

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drive the market's growth. For instance, in December 2, 2022, Zydus Lifesciences Limited announced its approval for Estradiol Transdermal System USP marketing, by the United States Food and Drug Administration (USFDA). Estradiol is utilized for treating menopause symptoms like hot feelings in the neck and chest or strong feelings of heat and vaginal dryness in women. The drug will be produced at the formulation manufacturing site of Zydus Lifesciences at Ahmedabad, India.

Geographical Analysis

North America holds the largest market share in the global transdermal drug delivery devices market.

North America dominates the global transdermal drug delivery devices market, primarily due to its large population, excellent medical infrastructure, and rising number of diseases. The market is expected to grow at a relatively high pace during the forecast period due to healthcare expenditure in the US. The market's significant size is attributed to the high medical expenditure.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market's growth in this region. Advancement of products such as reservoir patch, matrix patch, drug-in adhesive patch, micro-needle patch, increase in pharmaceutical establishment across the region and government approvals and the presence of key players in the region are contributing to the growth of the transdermal drug delivery devices market.

Moreover, the growing number of product launches is responsible for the market's growth. Many key developments, regulatory approvals, technological advancements, collaborations, and agreements are taking place in this region. For instance, in March 23, 2022, Noven Pharmaceuticals, Inc., Hisamitsu Pharmaceutical Co., Inc.'s wholly-owned subsidiary, announced that the approval of XELSTRYM (dextroamphetamine) transdermal system, CII from the U.S. Food and Drug Administration (FDA) for Attention-Deficit/Hyperactivity Disorder (ADHD) treatment for adults and pediatric patients. XELSTRYM is the only transdermal amphetamine patch which received FDA-approval.

Competitive Landscape

The transdermal drug delivery devices market is moderately competitive with local and global companies' presence. Novartis AG, Zydus Lifesciences Ltd, Boehinger Ingelheim International GmbH, AbbVie (Allergan), UCB S.A., Viatris Inc., Noven Pharmaceuticals, Inc., Acrux Limited, Purdue Pharma L.P., Endo International plc and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, in January 5, 20221, Endo International plc announced that Endo Ventures Limited, its subsidiary has entered into agreements with Radius Health, Inc. to commercialize and distribute abaloparatide in Canada. Under the agreement, Endo got the rights to abaloparatide-transdermal patch (abaloparatide-TD), a novel formulation currently undergoing clinical development.

Novartis AG.

Overview: Novartis is engaged in the discovery, development, manufacture, and sale of a wide range of pharmaceutical and generic medicines. The company has two operating divisions globally: Innovative medicines and Sandoz for biosimilars and generic pharmaceuticals.

Product Portfolio:

EXELON PATCH: Exelon Patch is a rivastigmine transdermal patch indicated for dementia of the Alzheimer's type (AD) and dementia linked with Parkinson's disease (PD).

The global transdermal drug delivery devices market report would provide access to approx.: 45+ market data tables, 40+ figures and 200 (approximate) pages.