Transdermal Skin Patches Market : Latest Report with Key Vendors Analysis | Novartis AG, Johnson & Johnson, and Teva Pharmaceutical Industries Ltd.
Transdermal skin patches are used to administer drugs inside human bodies by braising anywhere on the body. In light of the ineffectiveness of other modes of drug dosage such as intravenous needles, capsules, liquids, and pills, the market for transdermal skin patches has seen an escalating trend in recent years. Moreover, the growing side effects that crop out of other ways of administering drugs has also been a matter of concern, thus, causing buoyancy for the market for transdermal sin patches in Saudi Arabia. As medical treatments, remedies, and curing mechanisms advance towards easy-going methods, the transdermal skin patches are at the helm of development due to the relative comfort in laying them to the skin. It is projected that the market for transdermal patches in Saudi Arabia would stand at a market value of US$67.41 mn by the end of 2025 as compared to US$44.96 mn in 2016 registering a moderate CAGR of 4.7% over 2017-2025. The patches can be used for prolonged periods which further scales up the demand for these patches.
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Kingdom of Saudi Arabia Transdermal Skin Patches Market: Key Trends and Opportunities
Oral tablets and drug tablets have been under immense flak for causing adverse side effects that supersede the treatment mechanism. This has shifted the focus on transdermal skin patches which are effective healers and do not cause any side effects. Moreover, the transdermal skin patches can be directly placed on the areas which is in dire need of treatment drugs, thus, eliminating the mixing of the drug in the entire digestive track, and reducing the instance of ill effects. This is an important standpoint of these drugs from the perspective of medicine, which augments the demand for transdermal skin patches. The drugs released through these patches continually penetrate the body which combats the problem of taking oral capsules regularly.
The ability of transdermal patches to eliminate the usage of injections alleaviates the risk of cross-contamination, which is another plus point for the market. The patches have emerged as an efficient healthcare product that is considered to be a pioneer of congenial curing methods. This is an important realization that is expected to spur these patches in popularity, thus, increasing their demand. Moreover, the growing geriatric population has been a strong market propeller. People have shown a propensity towards self-medication, which is another point giving a stronghold to the market for the transdermal skin patches in Saudi Arabia.
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The market is expected to be hampered by the cases of death caused by these patches. This has been a rare instance but has significantly threatened growth prospects. Moreover, skin irritations, redness, and decoloring of the skin has also obstructed the market. However, the research and developmental activities have been a major driver for the growth of these patches, which are expected to be available in different ranges in future.
Kingdom of Saudi Arabia Transdermal Skin Patches Market: Competitive Analysis
A handful of players dominate the market due to their proven expertise in the domain. These top-notch players include Novartis AG, Johnson & Johnson, and Teva Pharmaceutical Industries Ltd. The other players trying their fortunes in the market include Hisamitsu Pharmaceutical, Luye Pharma, Mundipharma, Purdue Pharma, and Mylan.
Table of Content
1.1 Report Scope and Market Segmentation
1.2 Research Highlights
2 Assumptions and Research Methodology
2.2 Research Methodology
3 Executive Summary
3.1 KSA Transdermal Skin Patches: Market Snapshot
3.2 Market Share Analysis by Application, 2016
4 Market Overview
4.1 Market Overview
4.2 Key Industry Events
4.3 KSA Transdermal Skin Patches Market: Market Outlook
5 Market Dynamics
5.1 Drivers and Restraints Snapshot Analysis
5.2.1 Increasing geriatric population
5.2.2 Ongoing developments in transdermal drug delivery system
5.2.3 Growing preference for self-administration of drugs
5.2.4 Improved efficacy as compared to other routes of drug administration
5.2.5 Increasing inclination toward pain free drug delivery
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