Transdermal Skin Patches Market Pegged for Robust Expansion by 2024Global Transdermal Skin Patches Market: Overview
Transdermal patch, a medicated adhesive patch attached to the skin to administer medication into the bloodstream through diffusion, is gaining traction as a viable alternative to oral delivery of medicines and hypodermic injections. This is because they are painless, non-invasive, and kinetically maneuverable procedures that need to be kept attached between anything from eight hours to seven days depending on the therapeutic indication. So far, various topical formulations have been innovated to treat local indications.
There are a large number of transdermal delivery systems available in the market and many of them have proven to be a breakout commercial success.
After the first skin treatment patch in 1979 for curing motion sickness, many more have been unveiled in the global market to treat different maladies. Considered effective for cardiac and hormonal disorders, dermal skin patches are also finding application in treating migraine, Parkinson’s disease, Alzheimer’s, stroke, HIV, osteoporosis, and restless leg syndrome treatments. Transdermal skin patches to tackle skin issues have also hit the market.
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Global Transdermal Skin Patches Market: Drivers and Trends
Transdermal skin patches, which help avoid the traditional oral route for ingesting medicines, are useful in preventing gastrointestinal toxicity that result in nausea and vomiting. Since they are non-invasive in nature, they lower the inconvenience caused due to intravenous or parenteral therapies. Transdermal skin patches help in administration of drugs with a narrow therapeutic range, prolong the activity of drugs with short half-lives, and are a substitute for hypodermic injections too. On account of the ease of administration, compliance of the patience is also upped significantly, particularly in case of prolonged treatments for chronic pains and in smoking cessation therapy.
Further, elimination of the first-pass effect of the liver also lessens the amount of drug to be given.
Inability of the skin to absorb a range of active substance, however, is limiting the growth in the market. Just a handful of comparatively potent drugs are suitable to be administered via transdermal patches. Further, patients sometimes develop contact dermatitis at the place of application of the transdermal skin patch. This is another drawback negatively impacting the market. The future growth trajectory of the global market for transdermal skin patches is largely dependent on the ability to tide over such challenges. A significant number of clinical trials of different types of drugs is currently underway and would likely positively impact the market in the near future.
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Global Transdermal Skin Patches Market: Geographical Outlook
Geography-wise, the global market for transdermal skin patches can be divided into North America, Europe, Asia Pacific, and the Rest of the World. Technologies underpinning transdermal patches are being enhanced continuously to make them more versatile and effective, particularly in the U.S. The rising demand for better therapeutics at affordable costs is said to be the main driver in the U.S. market. Adoption of cutting-edge technology, state-of-the-art manufacturing plants, and high acceptance rates are also boosting the growth of the region. Overall, the transdermal skin patch market is slated for a promising future in the continent.
Key Players Mentioned in the Report
To present an in-depth assessment of the competition prevalent in the global market for transdermal skin patches, the report profiles some of the prominent companies such as Teva, Mylan Pharmaceuticals Inc, 3M Pharmaceuticals, Accrux Ltd., and Access Pharmaceuticals Inc. Their recent developments and historical roadmap have been studied in the report in detail.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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