Transdermal Drug Delivery Billion Dollar Market Rising Expectations in Resurgent Biotech Sector

The transdermal drug delivery market is experiencing some of the most significant growth within the pharmaceutical industry, as MarketsandMarkets.comrecently reported the market is expected to reach USD $125.88 Billion by 2021 from USD $92.40 Billion in 2016 at a CAGR of 6.4% during the period. North America was expected to dominate the global market recently, with the U.

S. accounting for a major share of the regional market. High incidence of skin diseases (such as psoriasis, eczema, and skin cancer), increasing inclination of patients towards pain-free drug delivery, launch of new topical products, and increasing focus of prominent players on strengthening their presence in the North American market through acquisitions and expansions. With over one billion transdermal patches manufactured every year, the market is already of considerable size as the future growth is expected to continue to improve. Key players in the market include the typical pharmaceutical giants, but there are also strong companies of a smaller scale that are making noise through creative innovation. Active companies in the biotech and pharma markets today include: Nutriband Inc. (OTC: NTRB), Mylan N.V. (NASDAQ: MYL), Nektar Therapeutics (NASDAQ: NKTR), Therapix Biosciences Ltd. (NASDAQ: TRPX), Mallinckrodt Public Limited Company (NYSE: MNK).