This transdermal patches market report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The transdermal patches market report provides detail information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions. It provides market dynamics, including the drivers, restraints, challenges, threats and the potential growth opportunities. Strength and weakness of the leading industry players are included in this transdermal patches market research report. Consumption volume, consumption value and sale price analysis of the global market by geography, type, application and industry verticals.
The transdermal patches market report is an extensive analysis of the business sphere, that has been touted to be one of the most profitable business verticals in recent times. The study enumerates of the total valuation of this business space currently, in addition to presenting a succinct segmentation of the industry, the expansion opportunities, as well as its regional expanse. In the end, this transdermal patches market report includes the major driving factors impacting the revenue scale of the market and details about the surging demand for the product from the major geographies.
Data Bridge Market Research analyses that the transdermal patches market, which was USD 7,132.45 million in 2022, would rocket up to USD 10,465.37 million by 2030, and is expected to undergo a CAGR of 4.9% during the forecast period.
Definition
A transdermal patch is a medicated adhesive patch applied to the skin to deliver a specific medication dosage into the bloodstream. Transdermal drug delivery differs from other methods of medication delivery (such as oral, topical, intravenous, or intramuscular) due to the controlled release of the medication into the patient that the patch provides, typically through a porous membrane covering a reservoir of drugs or through body heat melting thin layers of medicine embedded in the adhesive.
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Key Growth Drivers:
- Smokers' population growth in the area accelerates the growth
The region's growing smoking population is anticipated to increase demand for nicotine transdermal patches, boosting market growth. For instance, according to information released by the CDC in March 2022, approximately 34.0% of high school students (5.22 million) and 11.3% of middle school students (1.34 million) said they had ever used a tobacco product, such as cigarettes, cigars, smokeless tobacco, hookahs, pipe tobacco, heated tobacco products, nicotine pouches, or bidis (small brown cigarettes wrapped in a leaf). Additionally, among high school and middle school students, e-cigarettes are the most frequently used tobacco product from the same source, followed by cigarettes, cigars, smokeless tobacco, hookahs, nicotine pouches, heated tobacco products, and pipe tobacco.
- Increased cancer rates allow for growth
Breast and prostate cancer incidence are rising, which will likely significantly speed up market growth. For instance, the GLOBOCAN 2020 report states that Mexico reported 195,499 cancer cases in 2020, with breast and prostate cancers being the most prevalent. According to GLOBOCAN 2020, there will be 254,665 new cancer cases in Mexico by 2030 and 323,432 cases by 2040. Thus, the rising incidence of cancer in the population is anticipated to spur demand for transdermal patches containing medication nanoparticles that reduce cancer therapy-related pain.
- Growing investment in healthcare facilities
Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering market growth. The rising number of partnerships and strategic collaborations between the public and private players about funding and application of new and improved technology further creates lucrative market opportunities.
The report emphasizes the participation of key entities, notably:
- AdhexPharma (France)
- ProSolus, Inc (U.S.)
- Tapemark (U.S.)
- tesa Tapes (India) Pvt. Ltd. (Germany)
- Nitto Denko Corporation. (Japan)
- Noven Pharmaceuticals, Inc (U.S.)
- LTS Lohmann Therapie-Systeme AG (Germany)
- Medherant Limited (U.K.)
- Corium, Inc. (U.S.)
- Bayer AG (Germany)
- Novartis AG (Switzerland)
- Antares Pharma (U.S.)
- (U.S.)
- Medipatch, Inc. (U.S.)
- Mylan N.V. (U.S.)
- Acrux Limited (Australia)
- Sparsha Pharma International Pvt Ltd (India)
- Bliss GVS Pharma. (India)
- Johnson & Johnson (U.S.)
- Informa PLC (U.K.)
Major Points in the Report
- Understanding the entirety of the transdermal patches marketlandscape thoroughly.
- Exploring the leading entities in this sector, delving into their range of products and core approaches.
- Examining the prominent geographical areas where transdermal patches marketdemonstrates significant growth.
- Keeping abreast of the latest shifts and advancements within the industry.
- Identifying specific areas or markets with high potential and promising expansion opportunities.
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Key Market Segmentation
By Product (Single-Layer Drug-In-Adhesive, Multi-Layer Drug-In-Adhesive, Matrix, Reservoir, Vapor, and Others), Type (Fentanyl Transdermal Patch, Nicotine Transdermal Patch, Buprenorphine Transdermal Patch, Clonidine Transdermal Patch, Oxybutynin Transdermal Patch, and Others), Application (Cardiovascular Disorder, Central Nervous System Disorders (CNS), Pain Management/ Relief, Smoking Reduction and Cessation Aid, Overactive Bladder, Nicotine Cessation, Hormonal Therapy/ Disorders, Dermatology, and Others), Technology (Electric Current, Mechanical Arrays, Thermal Ablation, Chemical Enhancers, and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), End-user (Home Care Settings, Hospitals, and Clinics)
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