Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 41.2 Billion | USD 68.1 Billion | 6.2% | 2022 |
FrequentlyAsked Questions
For therapeutic reasons, transdermal drug delivery systems—an alternative to oral intravascular, subcutaneous, and transmucosal routes—transmit drugs through the skin. For businesses involved in its value chain, the transmucosal drug delivery system offers several advantages over traditional drug administration methods.
The growing prevalence of chronic disease coupled with the rising geriatric population is expected to drive the transmucosal drug delivery devices market growth over the forecast period. Furthermore, the growing regulatory approvals are another factor that propels the market expansion over the projected period.
According to the report, the global transmucosal drug delivery devices market size was worth around USD 41.2 billion in 2022 and is predicted to grow to around USD 68.1 billion by 2030.
The global Transmucosal Drug Delivery Devices market is expected to grow at a CAGR of 6.5% during the forecast period.
The global Transmucosal Drug Delivery Devices market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the growing prevalence of cancer, diabetes, cardiovascular and others. Moreover, the developed healthcare infrastructure is another significant reason that propels the market growth in the region.
The global Transmucosal Drug Delivery Devices market is dominated by players like Abbott, Bayer AG, Teva Pharmaceutical Industries Ltd., Slan Medicinal Holdings LTD, MMB Healthcare, LLC., BioDelivery Sciences International, Inc. Mylan N.V., Novartis AG, Bristol-Myers Squibb Company, Johnson & Johnson Private Limited, Antares Pharma, BD, 3M, Pfizer Inc., Boehringer Ingelheim International GmbH, Endo International plc, Echo Pharmaceuticals B.V., B. Braun Melsungen AG, Baxter, GlaxoSmithKline plc, and Acrux Limited among others.
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