Transdermal Drug Delivery Systems Market to Grow due to Rising Geriatric Population

The prevalence of chronic diseases is rising rapidly; for example, as per the International Diabetes Federation, approximately 425 million people were suffering from diabetes in the age group of 20–79 years old in 2017, and this number of further projected to rise to 629 million by 2045. In addition to this, the geriatric population across the globe is also growing rapidly. According to the United Nations Department of Economics and Social Welfares report on global aging population, the number of people aged 60 years or above is expected to reach 2.1 billion by 2050.

Because of such benefits, the transdermal drug delivery systems market is projected to advance at a considerable pace in the coming years. The two types of drug delivery systems are active and passive. The demand for active transdermal drug delivery systems, such as electrical based and structural based, was higher in the past, which is attributed to the growing number of product launches. Types of passive transdermal drug delivery systems are reservoir system and matrix system.

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The utilization of transdermal drug delivery systems was the highest in North America in the past, primarily because of the heavy expenditure by the government in the healthcare sector and supportive reimbursement policies. The Asia-Pacific is expected to be the fastest growing transdermal drug delivery systems market in the coming years. This is ascribed to the growing enhancement in the healthcare infrastructure and rising healthcare expenditure in the region, particularly in countries including India and China. Apart from these factors, technological advancements for developing cost-effective technologies in these countries is predicted to open up opportunities for the players operating in the domain.

In conclusion, the surging prevalence of chronic diseases and growing geriatric population are predicted to result in the rising demand for transdermal drug delivery systems.