At 3.9% CAGR, South & Central America Transdermal Drug Delivery System Market is Projected to be Worth US$ 2,222.65 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America transdermal drug delivery system market was valued at US$ 1,641.34 million in 2022 and is expected to reach US$ 2,222.65 million by 2030, registering a CAGR of 3.9% from 2022 to 2030. Increasing prevalence of chronic diseases and advancements in smart patches and 3D-printed patches are among the critical factors attributed to the South & Central America transdermal drug delivery system market expansion.

Cardiovascular diseases (CVDs) such as angina, atherosclerosis, pectoris, and acute myocardial infarction are among the common causes of mortality in the world. According to the WHO, CVDs are the major cause of ~17.9 million deaths worldwide every year. Many medicines are commercially available for the treatment of CVDs but conventional capsules and tablets are unable to effectively control the ailment. This underlines the need for novel drug delivery systems providing prolonged drug bioavailability and targeted drug delivery to the affected areas of the cardiovascular system. Transdermal drug delivery systems offer many advantages over regular orally administered drugs to treat cardiovascular diseases. Transdermal patches, encompassing drug particles, are applied on the skin surface. A cardiac patch provides an excellent platform for cell engraftment improvement. For example, a vascularized cardiac patch developed recently shows promising potential for treating ischemic heart injuries. Nitroglycerin transdermal patches are used to prevent angina (chest pain) episodes in people with coronary artery disease. They work by relaxing the blood vessels and reducing the stress on the heart, thereby lowering the need for oxygen. However, these patches cannot be used to treat angina attacks that have already begun.

Rivastigmine patch is used to treat dementia (memory loss) associated with mild, moderate, or severe Alzheimer's disease or mild-to-moderate dementia associated with Parkinson's disease. Rivastigmine and donepezil are cholinesterase inhibitors exhibiting a dose-response relationship, with higher doses of the drugs demonstrating greater efficacy. It is a small, lipophilic, and hydrophilic molecule that is chemically well-suited for transdermal delivery.

Diabetes is a life-threatening chronic disease having no specialized cure. Both types of diabetes can lead to various problems in different body parts and increase the overall risk of premature death. According to the International Diabetes Federation (IDF) Diabetes Atlas 10th edition reports, in 2021, globally 537 million adults (20-79 years) were diabetic, and the number is likely to reach 643 million by 2030 and 783 million by 2045. Exogenous insulin is usually administered subcutaneously for diabetes management. However, the recent attention toward a smart patch that delivers insulin when needed, simplifying insulin intake and activating targeted action.

Thus, the increasing incidences of chronic diseases such as cardiovascular diseases, Alzheimer's disease, and diabetes bolster the growth of the transdermal drug delivery system market.

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

Based on type, the South & Central America transdermal drug delivery system market is categorized into transdermal patches, transdermal gel, transdermal sprays, and others. The transdermal gel segment held 39.4% share of South & Central America transdermal drug delivery system market in 2022, amassing US$ 646.42 million. It is projected to garner US$ 893.11 million by 2030 to expand at 4.1% 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 South & Central 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 40.3% share of South & Central America transdermal drug delivery system market in 2022, amassing US$ 660.93 million. It is projected to garner US$ 894.74 million by 2030 to expand at 3.9% 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 South & Central America transdermal drug delivery system market is categorized into hospitals pharmacies, retail pharmacies, online pharmacies, and others. The hospitals pharmacies segment held 43.4% share of South & Central America transdermal drug delivery system market in 2022, amassing US$ 711.63 million. It is projected to garner US$ 962.75 million by 2030 to expand at 3.9% CAGR during 2022-2030.

Based on country, the South & Central America transdermal drug delivery system market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 54.4% share of South & Central America transdermal drug delivery system market in 2022. It was assessed at US$ 892.64 million in 2022 and is likely to hit US$ 1,231.18 million by 2030, exhibiting a CAGR of 4.1% during 2022-2030.

Key players operating in the South & Central America transdermal drug delivery system market are Boehringer Ingelheim International GmbH, GSK Plc, Hisamitsu Pharmaceutical Co Inc, Johnson & Johnson, Novartis AG, and Viatris Inc, among others.

• In October 2023, Novartis completed the Spin-off of Sandoz, its Generics and Biosimilars business. Novartis executed separation of the Sandoz business to create an independent company by way of a 100% Spin-off.
  
  
• 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.
  
  

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