Overview of This Study:
The study involved four major activities to estimate the current size for transdermal drug delivery system market. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size. Finally, the market breakdown and data triangulation was used to estimate the market size of segments and subsegments.
Recent Developments in the Global Industry:
# In January 2018, Hisamitsu Pharmaceutical (Japan) launched ALLESAGA TAPE in the Japanese market.
# In July 2018, UCB (Belgium) received the Import Drug License (IDL) for its transdermal rotigotine patch—NEUPRO from the China Food and Drug Administration (CFDA).
# In August 2018, Luye Pharma (China) signed an agreement with Bayer AG (Switzerland) to acquire the global rights to the Apleek contraceptive transdermal patch.
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Projected Revenue Growth:
The transdermal drug delivery systems market is expected to reach USD 7.1 billion by 2023 from an estimated USD 5.7 billion in 2018, at a CAGR of 4.5% during the forecast period.
Future Growth Boosting Factors:
The growth of this market is primarily driven by factors such as the increase in the prevalence of chronic diseases and technological advancements in transdermal drug delivery systems.
Major Objectives Behind This Study:
# To define, measure, and describe the transdermal drug delivery systems market by applications, type, end user, and region
# To provide detailed information about the major factors influencing market growth (drivers, restraints, challenges, and opportunities)
# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
# To forecast the size of market segments in North America, Europe, Asia Pacific, and RoW
# To strategically analyze the market structure and profile key players in the transdermal drug delivery systems market and comprehensively analyze their core competencies
# To track and analyze company developments such as product launches and enhancements; acquisitions; expansions; and agreements, partnerships, & collaborations in the transdermal drug delivery systems market
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