PUBLISHER: The Business Research Company | PRODUCT CODE: 1429671
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429671
Transdermal skin patches represent a drug delivery method wherein a predetermined dose of medication is administered through an adhesive patch, absorbing into the bloodstream via the skin. These patches offer a precise and predetermined dosage of medication, facilitating absorption through the skin into the bloodstream.
The primary categories within the transdermal skin patches market include fentanyl transdermal patches, nicotine transdermal patches, buprenorphine transdermal patches, clonidine transdermal patches, oxybutynin transdermal patches, and others. Nicotine transdermal skin patches are designed to aid individuals in quitting smoking by providing a controlled source of nicotine through the skin, helping alleviate withdrawal symptoms associated with smoking cessation. Various products in this market utilize matrix, drugs in the adhesive, reservoir, and vapor technologies, catering to applications such as pain relief, nicotine cessation, hormone replacement therapy, as well as addressing neurological and cardiovascular disorders, among others.
The transdermal skin patches market research report is one of a series of new reports from The Business Research Company that provides transdermal skin patches market statistics, including transdermal skin patches industry global market size, regional shares, competitors with a transdermal skin patches market share, detailed transdermal skin patches market segments, market trends and opportunities, and any further data you may need to thrive in the transdermal skin patches industry. This transdermal skin patches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The transdermal skin patches market size has grown steadily in recent years. It will grow from $7.36 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth observed in the historical period can be ascribed to factors such as a rising incidence of cardiovascular diseases, robust economic expansion in emerging markets, an uptick in pharmaceutical research and development (R&D) expenditure, and an overall increase in healthcare spending.
The transdermal skin patches market size is expected to see steady growth in the next few years. It will grow to $9.02 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to factors such as the increasing focus on smoking cessation, the rapid growth in the aging population, rising healthcare expenditure, and the surge in cardiovascular diseases. Key trends in the forecast period include technological advancements in transdermal skin patches, progress in diabetes transdermal patches, robust research and development activities, product innovation, collaborations and partnerships, the emergence of wearable skin patches, advancements in microneedle patches for vaccination, and the introduction of new iontophoresis patches.
The escalating prevalence of cardiovascular diseases is expected to drive the growth of the transdermal skin patches market in the future. Cardiovascular diseases impact the heart and blood vessels, often associated with the development of fatty deposits in the arteries (atherosclerosis) and an increased risk of blood clots. Transdermal skin patches are utilized to prevent angina episodes (chest pain) in individuals with coronary artery disease (narrowing of blood vessels supplying blood to the heart) and to enhance bioavailability for the treatment of heart failure. For example, in May 2023, the Centers for Disease Control and Prevention reported that approximately 695,000 people in the United States died from heart disease in 2021, accounting for 1 in every 5 deaths. Coronary heart disease, the most prevalent type, caused 375,476 deaths in 2021. Consequently, the growing prevalence of cardiovascular diseases is steering the expansion of the transdermal skin patches market.
The growth of the transdermal skin patches market is significantly influenced by advancements in modern technologies. These technological advances are expanding the range of drugs that can be delivered transdermally, encompassing small molecule hydrophobic drugs, hydrophilic drugs, and macromolecules. The enhanced technological capabilities contribute to increased efficiency and the broader adoption of transdermal drug delivery systems (TDDS), consequently elevating the popularity and demand for TDDS. For instance, in September 2022, Corium, a biopharmaceutical company based in the United States, introduced Adlarity, a transdermal patch designed for Alzheimer's treatment. Utilizing the unique Corplex technology, Adlarity provides controlled and sustained release of donepezil, benefiting individuals with Alzheimer's-related dementia across various severity levels.
Leading companies in the transdermal skin patches market are intensifying their focus on introducing innovative products and securing approvals to establish a competitive advantage. Innovative products refer to novel or improved solutions addressing existing problems or needs, such as drugs or medical devices. In March 2022, Noven Pharmaceuticals Inc., a U.S.-based pharmaceutical company, received approval from the U.S. Food and Drug Administration (FDA) for XELSTRY (dextroamphetamine) transdermal system. This marked the first and only approved amphetamine patch for treating ADHD (Attention-Deficit or Hyperactivity Disorder). XELSTRYM, intended for use two hours before the required effect, provides sustained release for nine hours, allowing for personalized dosages based on clinical response and tolerability.
Major companies in the market are increasingly engaging in acquisitions and collaborations to enhance their presence and drive growth in the transdermal skin patches market. Strategic mergers, acquisitions, and collaborations enable companies to gain a technological edge and stay ahead in the competitive landscape. For instance, in December 2021, Boyd Corporation, a U.S.-based provider of advanced sealing and thermal management solutions, acquired MBK Tape Solutions. This acquisition enhances Boyd's expertise in medical material science, particularly in applications such as biosensors, transdermal patches, and advanced wound care. MBK Tape Solutions, a U.S.-based manufacturer of medical-grade adhesives, specializes in products designed for medical devices and transdermal patches.
In January 2022, Cumberland Pharmaceuticals Inc., a U.S.-based specialty pharmaceutical company, acquired Sancuso, a granisetron transdermal patch, from Kyowa Kirin for $13.5 million. This transaction granted Cumberland the U.S. rights to SANCUSO, enabling full control over its commercial aspects, including marketing, distribution, manufacturing, and medical support. SANCUSO, developed by Kyowa Kirin, is a transdermal patch delivering granisetron, a serotonin-3 (5-HT3) receptor antagonist, to prevent chemotherapy-induced nausea and vomiting (CINV).
Major companies operating in the transdermal skin patches market report are Novartis, Hisamitsu Pharmaceutical Co., Inc., Henan Lingrui Pharmaceutical, Teva Phamaceuticals, Luye Pharma Group Ltd., Purdue Pharma L.P., Nitto Denko Corporation, AdhexPharma, Noven Pharmaceuticals, Teikoku Pharma, Mylan Pharmaceuticals Inc., 3M Company, Acrux Ltd., Access Pharmaceuticals Inc., Rusan Pharma, Glenmark Pharmaceuticals, Cipla Ltd., Mundipharma, Dr Reddy's Laboratories, Chattem, Clarity Medical, Welcare Industries S.P. A, F.L. Medical S.r.l, Empire MEDICAL UK Ltd., Europlaz Technologies Ltd., Zentiva, Alfa-Med LLC, Medplant LLC, Medical-Lomza Sp. z o.o., P.H.U. Medical, ProVeterinare, Panop CZ, Allergan Inc., Johnson & Johnson, Boehringer Ingelheim GmbH, Bayer AG, Bristol-Myers Squibb Company, GlaxoSmithKline PLC, Echo Therapeutics Inc., Endo Pharmaceuticals Inc.
North America was the largest region in the global transdermal skin patches market in 2023. Middle East is expected to be the fastest growing region in the transdermal skin patches market report during the forecast period. The regions covered in the transdermal skin patches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the transdermal skin patches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The transdermal skin patches market consists of sales of single-layer drug-in-adhesive, multi-layer drug-in-adhesive, and vapor patch. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Transdermal Skin Patches Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on transdermal skin patches market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for transdermal skin patches? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The transdermal skin patches market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.