LAMEA Transdermal Drug Delivery Systems Market Size, Share & Industry Trends Analysis Report By Application (Analgesics, Hormone Replacement Therapies, Hypertension, Motion Sickness, Smoking Cessation), By Type of Delivery System, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Transdermal Drug Delivery Systems Market would witness market growth of 7.7% CAGR during the forecast period (2022-2028).
The medicine is kept in a reservoir that is impermeably covered on one side and has an adhesive that makes contact with the skin on the other in practically all transdermal patch designs. Some designs use medicine that has been dissolved in a fluid or reservoir based on the gel, which can make formulations easier and allow the incorporation of liquid chemical additives like ethanol. These designs typically consist of four layers: an adhesive layer, a semi-permeable layer that may operate as a rate-limiting barrier, a drug reservoir, and an impermeable backing membrane.
Other approaches simplify manufacturing by incorporating the medication into a rigid polymer matrix. By removing the semi-permeable membrane, matrix systems can have just two layers or three layers if the medicine is incorporated into the glue. The need for geriatric medications has greatly increased due to the increase in the worldwide population. Transdermal drug delivery devices aid in the regulated distribution of medications, enhancing the efficacy of geriatric medications. Furthermore, during the past few decades, there has been a marked rise in the number of people with chronic illnesses like arthritis, diabetes, and heart disease.
These chronic conditions are the main source of disability and fatalities worldwide. Due to these issues, more R&D is being done to improve the efficacy of medications. Additionally, people are becoming more informed about how to utilize certain medications. These elements have boosted the market growth for transdermal medication delivery systems.
The Middle East has experienced a sharp rise in wealth over the past ten years, particularly among Gulf Cooperation Council (GCC) nations. This extraordinary gain in income has been accompanied by quick changes in lifestyle that have led to a sharp increase in chronic disease. Over the following decades, the severity of diabetes is anticipated to increase as the Middle East experiences the biggest rise in the incidence of type 2 diabetes, with over 60 million diabetics by 2030. These factors have accelerated the demand for medications in the region which will ultimately establish the transdermal drug delivery systems market in these regions.
The Brazil market dominated the LAMEA Transdermal Drug Delivery Systems Market by Country in 2021; thereby, achieving a market value of $1,256.8 million by 2028. The Argentina market is exhibiting a CAGR of 8.2% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 7.4% during (2022 - 2028).
Based on Application, the market is segmented into Analgesics, Hormone Replacement Therapies, Hypertension, Motion Sickness, Smoking Cessation and Others. Based on Type of Delivery System, the market is segmented into Passive and Active. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Viatris Inc., Bayer AG, Boehringer Ingelheim GmbH, Endo International plc, GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Purdue Pharma L.P., Altaris and Hisamitsu Pharmaceutical Co. Inc.
Scope of the Study
Market Segments Covered in the Report:
- Hormone Replacement Therapies
- Motion Sickness
- Smoking Cessation
By Type of Delivery System
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Viatris Inc.
- Bayer AG
- Boehringer Ingelheim GmbH
- Endo International plc
- GlaxoSmithKline plc
- Johnson & Johnson
- Novartis AG
- Purdue Pharma L.P.
- Hisamitsu Pharmaceutical Co. Inc.
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