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Transdermal Drug Delivery Devices Market is Booming with an Expected Growth Rate of 8.9%

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Transdermal drug delivery system is defined as the administration of the drugs through skin for the systemic circulation at a predetermined rate of time. Skin comprises of three distinct however internally dependent tissues. The layer has been categorized into vascular, stratified, and cellular epidermis. Over the past few decades, transdermal drug delivery devices market is seen upward trend over the past few years. Due to technological advancements, which improve the drug absorption ability through the skin pores without rupturing the skin tissues, transdermal drug delivery has become widely accepted route of drug administration among the companies.

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This market is driven by rising demand for pain-free drug delivery across the globe. For example, in diabetes condition, insulin is to be administered with the help of injections on a continuous basis. This continuous use of injections to deliver insulin causes pain and increase the risk of transmittance of chronic diseases. Thus, in order to reduce pain and risk associated with injections, the adoption rate of needle-free drug delivery systems, such as transdermal patches have increased significantly over the years, thus it is presumed to grow lucratively over the forecast period. Other factors such as advancement in technologies, rising awareness level, increasing companies’ investment and other supported the market growth. However, a high amount of research and development investment involved in the development of new technology of transdermal delivery systems acts as a key factor contributing to their high costs. This high cost is expected to hamper the market growth.

The market is primarily categorized into two categories such as technology and application. In terms of technology, the market is analyzed as Thermal, Mechanical arrays, Ultrasound, Microporation, Electroporation, Iontophoresis, and Others. Microporation recorded USD 1.3 billion in 2016 and is anticipated to grow with the decent growth rate over the future period. Increasing usage of this technique in hospitals and clinics supported the market growth.
The market, by application, is divided into CNS, Pain Management, Hormone, and Others. Among different application area, pain management is considered to be the largest revenue generating segment, accounted for more than 5.1 billion in 2016. Availability of wide range of therapeutics that can be used for transdermal delivery for pain treatment helped this segment to augment the market growth.

Companies such as Novartis, Johnson & Johnson, Mylan, BoehringerIngelheim, Biogel Technologies Inc., and Transdermal Technologies Inc. are operating in this market. Strategic merger and acquisitions and rising research and development activities to introduce new delivery system is considered to be the primary strategies of companies to expand their market share.

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Global Transdermal Drug Delivery Devices Market: Snapshot

Market, by Technology
Mechanical arrays

Market, by Application
Pain Management

Market, by Region
North America
Asia Pacific
Middle East and Africa
Latin America
Rest of the World

Market, by Country

Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include additional 10 profiles of companies):
Novartis AG
Johnson & Johnson
Mylan, Inc.
Biogel Technologies Inc.
Transdermal Technologies Inc.

USP of our key vendor analysis:
Well-designed strategic framework design for these key players will help to understand the market movement including regional expansion, mergers & acquisitions, and new product developments
Thorough SWOT i.e. Strength, Weakness, Opportunities, and Threat for individual company profiling is analyzed in order to present a detailed market opportunity assessment.

Key benefits of the report:
The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
A thorough analysis of relevant statistical data to estimate the market paradigms
Exceptional understanding of the region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

Research Methodology:
Preliminary Data Mining: Secondary Research, Paid Databases, Primary Research
Data Synthesis & Analysis: Top-Down Approach, Bottom-Up Approach, Supply Side and Demand Side
Market Formulation: Market Dynamics, Total Addressable Market and Machine Learning Technique
Data Verification: Quality Assurance and Reach a Conclusion

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