The Asia Pacific transdermal drug delivery system market is expected to reach US$ 1,736.02 million by 2027 from US$ 1,199.69 million in 2019. The market is estimated to grow at a CAGR of 4.9% from 2020 to 2027.
The growth of the Asia Pacific transdermal drug delivery system market is attributed to increasing prevalence of chronic diseases, growing demand for non-invasive drug delivery devices, and high demand for self-administration of drugs. However, the drug delivery systems and drug failure and recalls of transdermal drug delivery systems hinder the growth of the market.
China in the largest market for transdermal drug delivery system owing to increasing investment in R&D for the development of the innovative of new drug delivery systems. The excessive population in China, coupled with the rising prevalence of chronic diseases is offering immense growth opportunities in the transdermal patches and semisolid products for the pain management market. However, considering the geographic and economic operations between Asian countries and China, the countries are expected to witness challenge of COVID-19. The outbreak of disease has badly affected supply chain, and led to shortage of healthcare supplies in the region. Moreover, domestic start-ups backed by international funding have already started witnessing back out from investors putting the development of the products in jeopardy.
The Asia Pacific transdermal drug delivery system market, based on type, 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. The transdermal patch segment held the largest share of the market in 2019 and it is anticipated to register the highest CAGR in the market during the forecast period. The Asia Pacific transdermal drug delivery system market, based on application, is segmented into cardiovascular diseases, central nervous system disorders, pain management, hormonal applications and other applications.
The hormonal segment is further sub segmented into transdermal estrogen therapy, testosterone replacement therapy. The pain management segment held the largest share of the market in 2019, and continued to register the highest CAGR during the forecast period. Based on end user, the transdermal drug delivery system market has been segmented into hospitals and clinics, home care settings, and other end users. The hospitals and clinics segment held the largest share of the market in 2019, on the other hand, home care settings is expected to register the highest CAGR in the market during the forecast period.
A few major primary and secondary sources referred to in the process of preparing the report on the transdermal drug delivery system market are the World Health Organization, International Diabetes Federation, and Centre for Disease Prevention and Control.