Report : Asia Pacific Transdermal Drug Delivery System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Transdermal Patches, Transdermal Semisolids); Application (Cardiovascular Diseases, Central Nervous System Disorders, Pain Management, Hormonal Applications, Other Applications); End User (Hospitals and Clinics, Home Care Settings, Other End Users)
Transdermal PatchSegmenttoWitnessHigher CAGRDuringForecast Period
According to the latest study on “Asia PacificTransdermal Drug Delivery SystemMarket Forecast to 2027 – COVID-19 Impact and Analysis –by Type, Application, and End User,”the market was valued at US$ 1,199.69million in 2019 and is projectedto reach US$ 1,736.02millionby2027; it is expected to grow at a CAGR of 4.9%during 2020–2027. The report highlights trends prevailing in the Asia Pacifictransdermal drug delivery system market and the factors driving market along with those that act as hindrances.
Based on type, the Asia Pacifictransdermal drug delivery system market is segmented into transdermal patch and transdermal semisolids. The transdermal patch segment is further sub segmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches and micro needle patches. The transdermal semisolids segment is further sub segmented into gels, ointments and sprays. In 2019, the transdermal patch segment held a largershare of the market. Also, it is expected to grow at a fasterrate duringthe forecast period.
The growth of the Asia Pacifictransdermal drug delivery system market is attributed to the increasing prevalence of chronic diseases, growing demand for non-invasive drug delivery devices, and high demand for self-administration of drugs. However, drug failure and recalls of transdermal drug delivery systems limits the growth of market in this region.
GlaxoSmithKline plc, Novartis AG, Mylan N.V., Luye Pharma Group, and Hisamitsu Pharmaceutical Co.,Inc.are among the leading companies operating in the Asia Pacifictransdermal drug delivery system market.
The report segments Asia Pacifictransdermal drug delivery system market as follows:
By End User