north america transdermal drug delivery system Market

The North America transdermal drug delivery system market is expected to reach US$ 3,430.81 million by 2027 from US$ 2,422.34 million in 2019; it is estimated to grow at a CAGR of 4.6%from 2020 to 2027.

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

In North America, the US in the largest market for transdermal drug delivery systems owing to rising prevalence of chronic diseases and increasing investments in R&D for the development of innovative drug delivery systems. Additionally, the presence of a large number of manufacturers with strong product portfolio, and increasing product approvals for the transdermal drug delivery systems are further driving the growth of the market in this country.

The North America 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 North America 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 in the process of preparing the report on the transdermal drug delivery system market in North America are the World Health Organization (WHO), Pharmaceutical Research and Manufacturers of America, and Centers for Disease Control and Prevention (CDC).