The global transdermal skin patch market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing the drug\’s benefits over oral and ingestible drugs, as well as its simplicity of administration and duration of action. The market is increasing as financing and spending for medication research and new releases increase.
A sort of transdermal technology is a transdermal patch. It is a medicated adhesive patch that is applied to the skin to give a specified medicine dosage. These patches use a diffusion approach to deliver medicine doses via the skin, which are then released into the bloodstream over time. These patches are useful in the therapy of hormonal and cardiac problems. Migraine, Parkinson\’s disease, Alzheimer\’s disease, strokes, HIV, osteoporosis, dermatology-related disorders, and restless leg syndrome therapies are all treated with these patches.
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Transdermal skin patches enable patients to self-administer medications in a convenient and pain-free manner, resulting in patient comfort and alleviation, particularly in chronic conditions requiring long-term therapy, which will drive the worldwide Transdermal Skin Patches Market in the projected future. Depending on the therapeutic intent, transdermal skin patches can be worn for as little as eight hours or as long as seven days. In the projected term, this innovation in patches will boost the worldwide market. The difficulty of the skin to absorb a wide range of drugs, as well as the occurrence of contact dermatitis in a small number of cases, may limit market for transdermal patches throughout the forecasted time period. Although these factors contribute towards market\’s growth, issues such as non-permeability of skin among patients\’ ability to absorb a variety of medications, as well as development of contact dermatitis at the location of transdermal patch administration, might restrict market\’s growth.
Major Factors Driving Growth Of The Global Transdermal Skin Patch Market:
The global Transdermal Skin Patch Market\’s revenue growth is fueled by increased benefits over oral and ingestible pharmaceuticals, convenience of administration, and pharmacological action that lasts longer. Increasing benefits of transdermal medicine over oral and swallowing drugs (medications for gastrointestinal toxicity) that cause nausea and vomiting are some of the primary factors driving the market\’s growth. They are less inconvenient than intravenous or parenteral treatments since they are non-invasive. Key benefit is that the patch allows for regulated drug release to patients, which is generally accomplished via a perforated membrane covering the drug reservoir or by body warmth dissolving small layers of medication contained in adhesive. Migraine, hormones, pain, cardiovascular disorders, neurological disease, and smoking cessation are all treated with these patches. Due to reduced dose frequency, increased bioavailability, fewer side effects, and drug input cessation at any moment by removing the patch, transdermal mode of drug administration is becoming more popular.
Factors Restraining Growth Of The Global Transdermal Skin Patch Market:
Although these aspects contribute to the market\’s growth, issues such as non-permeability of skin among patients\’ ability to absorb a variety of medications, as well as development of contact dermatitis at the location of transdermal patch administration, might restrict market\’s growth. However, skin\’s inability to absorb variety of active substances is restricting market expansion. Only a few fairly powerful medications are suited for transdermal patch administration. Furthermore, patients may develop contact dermatitis where transdermal skin patch is applied. This is another flaw that has a detrimental influence in the market. Worldwide market for transdermal skin patches\’ future growth trajectory is heavily reliant on capacity to overcome such obstacles. A large number of clinical studies for various types of pharmaceuticals are presently underway, with potential to have a beneficial influence in the market in near future.
Opportunities For Players Operating In The Global Transdermal Skin Patch Market:
Focus on Fewer dose frequency, increased bioavailability, reduced side effects, and drug input cessation at any moment by removing patch are all reasons why transdermal mode of drug administration is becoming more popular. Furthermore, industry is expanding as funds and investments for medical research and new releases increase.
Global Transdermal Skin Patch Market Revenue Led By Product Type Segment:
Based on product type, the Vapor Patch segment is expected to reach the highest revenue share over the forecast period. A transdermal Vapor patch is a type of transdermal technology. It is a medicated adhesive patch that is placed on the skin to deliver a specific dose of medication. These patches deliver medication dose through the skin using diffusion technique, which later gets released in bloodstream over a long period of time.
Global Transdermal Skin Patch Market Leading End-Use Segment:
Based on end-use, the pain-relief segment is expected to dominate all other segments in terms of revenue generation over the forecast period. The fact that transdermal skin patches provide convenient and pain-free self-administration of drugs, resulting in patient comfort and relief, especially in chronic conditions where long-term treatment is required, will propel the global transdermal skin patches market forward in the forecast period.
North America Accounts For Largest Revenue Share In Global Transdermal Skin Patch Market:
North America is predicted to have largest share of the regional markets throughout the projection period. Factors include the presence of significant businesses and well-developed healthcare infrastructure that is projected to boost growth. Additionally, advantageous government efforts and an increase in number of research collaborations are projected to propel market forward.
Transdermal patch technologies are constantly being improved in order to make them more adaptable and popular in the United States. To upgrade and extend their presence for growth of the transdermal skin patches market, major businesses in market are increasingly opting for acquisitions and partnerships. According to Health Canada, over 100 individuals die every day in Canada as a result of tobacco smoking-related diseases. This has made pharmaceuticals more widely available, and introduction of new revolutionary treatments, such as transdermal patches, has boosted market\’s growth.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific Transdermal Skin Patch Market is expected to register the fastest growth in CAGR over the forecast period. Rapid urbanization, significant rise in diseases and increasing government investments in the pharmaceutical sector are the major factors driving APAC market growth. High rate of population and wide spread of diseases as well as healthcare and growing demand for advanced patches in these countries further contribute to the APAC market growth.
Major Companies Profiled In The Report:
- Mylan Pharmaceuticals Inc
- Hisamitsu Pharmaceutical
- Johnson & Johnson
- Teikoku Pharma
- Henan Lingrui Pharmaceutical
- Changzhou Siyao
- RFL Pharmaceutical
- ProSolus, Inc.
- Medipatch, Inc.
- Medherant Limited
- Nitto Denko
- Noven Pharmaceuticals
- 3M Pharmaceuticals
- Accrux Ltd.
- Access Pharmaceuticals Inc.
- Luye Pharma Group Ltd.
- Purdue Pharma L.P.
- Abbott Laboratories
- Aneva Drug Delivery Systems
- Allergan plc
- Corium International, Inc.
- Immune Pharmaceuticals
- Hercon Pharmaceuticals
- DURECT Corporation
Strategies And Objectives Of Major Companies:
- In June 2021, Rivastigmine Transdermal Patch was introduced by Luye Pharma Group in China for treatment of mild to moderate Alzheimer\’s disease.
- In June 2020, Vektor Pharma has released a generic version of transdermal Neupro patch (rotigotine), which is commonly used to treat Parkinson\’s disease symptoms.
- ProSolus Inc was bought by Canoa Inc., a Delaware-based healthcare and pharmaceuticals company, in 2019 to improve its position and develop novel transdermal therapies. ProSolus is a transdermal solutions-focused pharmaceutical firm established in the United States.
- 4P Therapeutics Inc was purchased by Nutriband Inc., a pharmaceutical and health-care firm located in the United States that specializes in transdermal and topical technologies, for an undisclosed price in 2023. With the purchase, Nutriband sought to expand its product range, which comprised transdermal technology, prescription drugs, and clinical development. 4P Therapeutics Inc is a biotechnological healthcare research and development company based in the United States, specializing in novel drug delivery methods.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financial, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global Transdermal Skin Patch Market is segmented on the basis of product type, application, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Single-layer Drug-in-Adhesive
- Multi-layer Drug-in-Adhesive
Application Outlook (Revenue, USD Billion; 2023-2032)
- Pain Relief
- Smoking Reduction and Cessation Aid
- Overactive Bladder
- Hormonal Therapy
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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