The Global Transdermal Patch Market was valued at US$ 8.89 billion in 2020 and is predictable to reach US$ 12.16 billion by 2030; growing at a CAGR of 3.2 % during the forecast period from 2021- 2030.
Transdermal patches are referred as a type of adhesive patches which are used for medication by delivering a predetermined dose inside the body using the transdermal method along with diffusion technique. Such techniques are a more viable alternative compared to oral delivery of medicines, liquid medication, or injections owing to their non-invasive, painless procedures.
The rising technological development for transdermal patches can be attributed as a vital factor for the market growth. Transdermal patches are a blessing to patients suffering from hepatic disorders. Transdermal patches are designed to cater to prolonged and controlled certain drugs beneficial to pain relief drugs, hormone products, and nicotine. Transdermal patches activate a patch by the patient’s body and begin to release the medication via the skin to the bloodstream. The demand for such transdermal patches acts as a blessing in the medical industry thus fuelling the global market during the forecast period.
However, the inability of the skin to engross a huge range of medications and the development of contact dermatitis is the prime reason hindering the market growth. Only a limited number of drugs are appropriate to administer through transdermal patches. In addition, some patients suffer skin irritation at the place of application of the transdermal skin patch which also limits the market growth. However, numerous clinical trials for different types of drugs are still going and are expected for a positive impact on the global transdermal patches market in the forecast period.
The Global Transdermal Patches Market is segmented by type, technology, application, and region. Based on type, it is categorized into single layer drug-in-adhesive, multi-layer drug-in-adhesive, reservoir, matrix, vapor patch, and others. By technology, it bifurcates into mechanical arrays, electric current, thermal ablation, chemical enhancers, and others. The application segment is categorized into CNS, dermatology, cardiovascular, pain management, chemical enhancers, and others. Based on regional insights, the global transdermal patches market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and Middle East & Africa).
North America is dominating the market owing to the existence of numerous players and well-established healthcare infrastructure, adoption for such product innovation, disposable spending incomes.
Prominent players inducing the Global Transdermal Patches Market are Tapemark, Nitto Denko Corporation, LTS Lohmann, Medherant Limited, Bayer AG, Novartis AG, Antares Pharma, Abbott Medipatch Inc., Acrux Limited, AdhexPharma, Tesa LAbtec GmbH, ProSolus Inc., Noven Pharmaceuticals Inc., Therapie-Systeme AG, Corium International Inc., ANI Pharmaceuticals, Janssen Pharmaceuticals Inc., Aneva Drug Delivery Systems, and Mylan N.V. among others.
Segmentation and Scope of the Global Transdermal Patches Market
Global Transdermal Patches Market is segmented by type, technology, application, and region.
Rest of World
Middle East & Africa
Prominent players in the Global Transdermal Patches Market among other includes