The latest report by IMARC, titled “Transdermal Skin Patches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global transdermal skin patches market size reached US$ 7.22 Billion in 2021. A transdermal skin patch refers to a medicated adhesive patch attached to the skin for absorbing the medication through the diffusion technique, thereby releasing the drugs into the bloodstream. They possess adhesives, drugs, backings, liners, membranes, permeators, low electric currents like iontophoresis, and physical aids. They are also effective in the treatment of hormonal and cardiac disorders, osteoporosis, Parkinson’s disease, Alzheimer’s, migraine, strokes, HIV, dermatology-related issues, and restless leg syndrome treatments. In recent years, transdermal skin patches have gained traction due to their widespread adoption as cosmetic, topical, and transdermal delivery systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
Global Transdermal Skin Patches Market Trends:
One of the primary factors driving the market is the rising prevalence of chronic illnesses. Additionally, transdermal skin patches enhance the compliance of the patient in smoking cessation therapy and the treatment of chronic pains due to the ease of administration, thus positively influencing the market growth. Other than this, there are several advantages these patches hold over oral and ingesting medications, such as the prolonged activity of the drugs, lowering the inconvenience caused due to intravenous or parenteral therapies, and preventing gastrointestinal toxicity, nausea, and vomiting. Along with this, the surging demand for better therapeutics at economical rates and the rising number of clinical trials are also creating a positive market outlook. Moreover, key players are extensively investing in research and development (R&D) activities to launch various product variants, including pressure-sensitive adhesives and permeation enhancers. On account of these factors, IMARC Group expects the market value to reach US$ 9.57 Billion by 2027, expanding at a CAGR of 4.50% during the forecast period (2022-2027).
- Based on the type, the market has been divided into single-layer-drug-in adhesive, multi-layer drug-in-adhesive, matrix, and others.
- On the basis of the distribution channel, the market has been segmented into hospital pharmacies, retail pharmacies, and online stores.
- Based on the application, the market has been categorized into pain relief, smoking reduction and cessation aid, overactive bladder, hormonal therapy, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 3M Company, AdhexPharma, LTS Lohmann Therapie-Systeme AG, Luye Pharma Group, Medherant Limited, Nitto Denko Corporation, Noven Pharmaceuticals Inc. (Hisamitsu Pharmaceutical Co. Inc.), Prosolus Inc., Samyang Holdings Corporation, Tapemark, Teikoku Pharma USA Inc. (Teikoku Seiyaku Co. Ltd.), tesa SE (Beiersdorf AG), Teva Pharmaceutical Industries Ltd.
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