europe transdermal drug delivery system Market

The Europe transdermal drug delivery system market is expected to reach US$ 2,060.00 million by 2027 from US$ 1,524.63 million in 2019; it is estimated to grow at a CAGR of 4.0% from 2020 to 2027.

The growth of the market in this region is attributed to the increasing prevalence of chronic diseases, growing demand for noninvasive drug delivery devices, and high preference for self-administration of drugs. However, the elevated costs of the development of drug delivery systems, and failure and recalls of transdermal drug delivery systems hinder the growth of the market.

Germany in the largest European market for transdermal drug delivery systems, and its growth is mainly credited to the increasing investments in R&D for the development of innovative drug delivery systems. The Nose-to-Brain-patch (N2B-patch), an EU-funded project, aims to develop an innovative technology for multiple sclerosis (MS) treatment by developing a “nose to brain” delivery system for painless drug delivery.

The Europe transdermal drug delivery system market based on type is has been segmented into transdermal patch and transdermal semisolids. The market for the transdermal patch segment is subsegmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and micro needle patches. The market for the transdermal semisolids segment is further segmented into gels, ointments, and sprays. The transdermal patch segment held a larger share of the market in 2019, and it is anticipated to register a higher CAGR during the forecast period. The Europe transdermal drug delivery system market based on application has been segmented into cardiovascular diseases, central nervous system disorders, pain management, hormonal applications, and other applications. The market for hormonal applications is further segmented into transdermal estrogen therapy and testosterone replacement therapy. The pain management segment held the largest share of the market in 2019, and it is likely to register the highest CAGR during the forecast period. On the basis of 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; however, the market for home care settings is expected grow at the highest CAGR during the forecast period.

A few major primary and secondary sources referred to while preparing the report on the Europe transdermal drug delivery system market are the World Health Organization (WHO), European Medicines Agency, and European Centre for Disease Prevention and Control.