At 4.3% CAGR, North America Transdermal Drug Delivery System Market is Projected to be Worth US$ 20,958.37 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America transdermal drug delivery system market was valued at US$ 14,977.62 million in 2022 and is expected to reach US$ 20,958.37 million by 2030, registering a CAGR of 4.3% from 2022 to 2030. Increasing prevalence of chronic diseases and strategic initiatives by manufacturers are among the critical factors attributed to the North America transdermal drug delivery system market expansion.

Manufacturers in the transdermal drug delivery market are ramping up their focus on the adoption of various strategies such as type innovations and launches, product approvals, R&D investments (for advancements), and mergers and acquisitions to maintain a competitive edge in the market.

In February 2023, Revive Therapeutics Ltd. established a research collaboration agreement with PharmaTher Holdings Ltd. to evaluate the delivery of 3,4-methylenedioxymethamphetamine (MDMA) using PharmaTher's novel microneedle patch (MN-patch) delivery technology. The MDMA MN-patch enables flexible drug load capacity and combinations, controlled released delivery, and the ability to present desired pharmacokinetic and safety profiles, overcoming the potential obstacles of oral dosing.

In September 2022, Biomind and the Queen's University of Belfast received a controlled substances license to begin manufacturing a novel transdermal drug delivery system. This disruptive drug delivery approach can go beyond a full psychedelic experience. Biomind is likely to provide a next-generation treatment for inflammation, pain, and neurodegenerative disorders through this comfortable drug delivery solution, strongly emphasizing improving patient therapeutic outcomes.

In September 2022, Corium, Inc launched ADLARITY (donepezil transdermal system), now available for prescription in the US for treating patients with mild, moderate, or severe dementia of Alzheimer's type.

In 2019, the US FDA approved Noven's schizophrenia treatment administered through a once-daily transdermal delivery system. In 2019, Nemaura Pharma Limited, a UK-based biopharmaceutical company specializing in transdermal and injectable drug delivery systems, announced a strategic collaboration with Sparsha USA. Based in California, Sparsha specializes in the development and commercial manufacturing of transdermal patches and oral thin films.

Such strategic initiatives are likely to result in future trends in the transdermal drug delivery system market in the coming years.

On the contrary, adverse effects and recall of transdermal drug delivery systems hamper the growth of North America transdermal drug delivery system market.

Based on type, the North America transdermal drug delivery system market is categorized into transdermal patches, transdermal gel, transdermal sprays, and others. The transdermal gel segment held 39.5% share of North America transdermal drug delivery system market in 2022, amassing US$ 5,912.94 million. It is projected to garner US$ 8,440.95 million by 2030 to expand at 4.5% CAGR during 2022-2030. The transdermal patches is further sub segmented into drug-in-adhesive patches, matrix patches, reservoir membrane patches, and vapor patches.

In terms of application, the North America transdermal drug delivery system market is segmented into cardiovascular diseases, central nervous system disorders, pain management, hormonal applications, and other applications. The pain management segment held 40.4% share of North America transdermal drug delivery system market in 2022, amassing US$ 6,045.66 million. It is projected to garner US$ 8,456.34 million by 2030 to expand at 4.3% CAGR during 2022-2030. The pain management is further sub segmented into opioid and non-opioid. The hormonal applications is further sub segmented into transdermal estrogen & progesterone therapy and testosterone replacement.

By distribution channel, the North America transdermal drug delivery system market is categorized into hospitals pharmacies, retail pharmacies, online pharmacies, and others. The hospitals pharmacies segment held 43.3% share of North America transdermal drug delivery system market in 2022, amassing US$ 6,487.03 million. It is projected to garner US$ 9,068.88 million by 2030 to expand at 4.3% CAGR during 2022-2030.

Based on country, the North America transdermal drug delivery system market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 82.0% share of North America transdermal drug delivery system market in 2022. It was assessed at US$ 12,283.38 million in 2022 and is likely to hit US$ 17,287.32 million by 2030, exhibiting a CAGR of 4.4% during 2022-2030.

Key players operating in the North America transdermal drug delivery system market are Boehringer Ingelheim International GmbH, GSK Plc, Hisamitsu Pharmaceutical Co Inc, Johnson & Johnson, Lavipharm SA, Luye Pharma Group Ltd, Novartis AG, Purdue Pharma LP, UCB SA, and Viatris Inc, among others.

•    In August 2023, Novartis acquired Chinook Therapeutics Inc. Acquisition of Chinook Therapeutics, a clinical-stage biopharmaceutical company, completed for USD 3.2bn upfront. The deal brings two phase 3 assets in development for IgAN; atrasentan, an oral endothelin A receptor antagonist, and zigakibart, an anti-APRIL monoclonal antibody.
  
  
•    In June 2022, "Boehringer Ingelheim today announced the signing of an option to acquire Trutino Biosciences Inc. (the "Transaction"), a San Diego-based biotech company. Trutino Biosciences is a pre-clinical stage biotech company dedicated to the discovery and development of next-generation cytokine therapies to treat immuno-oncology and autoimmune diseases. Boehringer Ingelheim is dedicated to a two-pronged research strategy to fight cancers: through cancer cell-directed and immune cell-targeting compounds. The ongoing research partnership between Boehringer Ingelheim and Trutino is part of an overarching effort to mobilize a patient's immune system to fight cancer."
  
  
  

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