Transdermal Drug Delivery System Market Latest Innovations and Key Events in the Industry

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The transdermal drug delivery systems market valued over $30.0 billion in 2016, and it is predicted to grow significantly, with a CAGR of around 10.0%, during 2017–2023 (forecast period).

The growth of the market is attributed to the surging geriatric population, rising prevalence of chronic diseases, and increasing adoption of advanced systems. The term, transdermal drug delivery systems, refers to an advanced mode of medication that delivers drugs directly into the blood stream through the skin.

When type is taken into consideration, the transdermal drug delivery systems market is divided into passive and active systems. The passive division held the larger share of the market in 2016. This type is preferred by patients as it is painless and also convenient to use. The division is further bifurcated into matrix and reservoir systems, wherein matrix systems held the larger share of the market in 2016 and are expected to dominate the market during the forecast period as well.

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The rising prevalence of chronic diseases is one of the major reasons for the growth of the transdermal drug delivery systems market. According to the Centers for Disease Control and Prevention (CDC), one in every three adults in the U.S. has high blood pressure. Other than this, the World Health Organization (WHO) stated that in 2015, over 1.1 billion people smoked tobacco, which leads to respiratory diseases, such as lung cancer and chronic obstructive pulmonary disease. Due to these factors, the demand for transdermal drug delivery systems is increasing globally.

Another factor driving the growth of the transdermal drug delivery systems market is the technological advancements in the field. In order to administer small as well as large-molecule drugs in the bloodstream, second and third-generation delivery systems have been introduced in the market. While first-generation systems release drugs across the skin without the use of external force, second-generation systems use driving forces for transportation of small-molecule drugs. Third-generation systems target the penetration of the stratum corneum, while protecting the deeper tissues, for transferring small-molecule and macromolecule drugs.

Hence, technological advancements in transdermal drug delivery systems, rising prevalence of chronic diseases, and increasing investments in the healthcare sector in developing nations are driving the growth of the market.

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