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Pramod Kumar
by on April 15, 2021
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The global transdermal drug delivery systems market is set for lucrative growth in the coming years. The market is being driven by the surging population of geriatric people, the rising incidence of chronic diseases such as diabetes, angina, and hypertension, the increasing adoption of advanced drug delivery system technologies, the soaring concerns being raised over painless drug delivery, the increasing number of patients diagnosed with neurovascular diseases, and the various benefits provided by transdermal drug delivery systems.
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As per the global aging population report published by the United Nations Department of Economic and Social Welfares (UNDESA), the total number of people above 60 years of age across the world is predicted to rise from 962 million in 2017 to 2.1 billion by 2050. Moreover, according to the observations of the Centers of Disease control and Prevention (CDC), in America, one out of every three adults suffer from high blood pressure.
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When application is taken into consideration, the market is categorized into hormone replacement therapy, analgesics, cardiovascular diseases, hypertension, smoking cessation, and motion sickness. Out of these, the analgesics category recorded the highest growth in the market in the past years and it will demonstrate rapid expansion in the forthcoming years as well, according to the estimates of the market research company, P&S Intelligence. Furthermore, the requirement for these devices in cardiovascular disorder applications is growing rapidly across the world.
Geographically, the transdermal drug delivery systems market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the future years. This will be a result of the huge investments being made by the governments of several regional countries on healthcare and the increasing implementation of supportive reimbursement policies in the region. Additionally, the soaring healthcare expenditure and the rapid improvements being made in the healthcare infrastructure are massively propelling the market expansion in the region.
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