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Transdermal Skin Patches Market Demands, Sales, Growth Rate, Price, Key Players Analysis And Forecasts 2023-2032
Transdermal Skin Patches Global Market
The Business Research Company's Transdermal Skin Patches Global Market Report 2023 identifies advances in modern technologies as the major driver for the Transdermal Skin Patches market's growth in the forecast period. Advances in modern technologies increase the number of drugs being delivered transdermally including small molecule hydrophobic drugs, hydrophilic drugs, and macromolecules. The new technological advances add to the increased efficiency and increased use of transdermal drug delivery systems (TDDS) thus, increasing the popularity and demand for TDDS.
The global transdermal skin patches market grew from $7.1 billion in 2022 to $7.42 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transdermal skin patches market is expected to grow from $8.43 billion in 2027 at a CAGR of 3.2%.
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Major competitors in the Transdermal Skin Patches market are Mylan Pharmaceuticals Inc., Hisamitsu Pharmaceutical, Novartis, Johnson & Johnson, Teikoku Pharma, Mylan, Actavis.
A key trend in the Transdermal Skin Patches market includes Stringent regulatory approval by the government regulatory bodies. The regulatory authority enforces the laws regulating biologics, medications, and medical devices, which can have potential side effects for customers. For instance, Food and Drug Administration (FDA) mandates the TDDS to undergo a series of tests including biomechanical testing, animal testing, and clinical trials before approving the TDDS for use in the market. The whole process consumes time and may result in a delay for the launch of TDDS into the market losing the first-mover advantage thus restraining the growth of the transdermal skin patch market.
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The Transdermal Skin Patches market is segmented -
1) By Product: Matrix, Drug In Adhesive, Reservoir, Vapor
2) By Type: Fentanyl Transdermal Patch, Nicotine Transdermal Patch, Buprenorphine Transdermal Patch, Clonidine Transdermal Patch, Oxybutynin Transdermal Patch, Other Types
3) By Application: Pain Relief, Nicotine Cessation, Hormone Replacement Therapy, Neurological Disorders, Cardiovascular Disorders, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Transdermal Skin Patches market.
The Business Research Company's "Global Transdermal Skin Patches Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Transdermal Skin Patches Market Include:
1. Executive Summary
2. Transdermal Skin Patches Market Characteristics
3. Transdermal Skin Patches Market Trends And Strategies
4. Transdermal Skin Patches Market - Macro Economic Scenario
5. Transdermal Skin Patches Market Size And Growth
……
28. Transdermal Skin Patches Pipeline Analysis
29. Key Mergers And Acquisitions In The Transdermal Skin Patches Market
30. Transdermal Skin Patches Market Future Outlook and Potential Analysis
31. Appendix
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