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Transdermal Skin Patches Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033

12-04-2024 08:00 AM CET | Health & Medicine

Press release from: The Business Research Company

Transdermal Skin Patches Market Size

Transdermal Skin Patches Market Size

"The Business Research Company recently released a comprehensive report on the Global Transdermal Skin Patches Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
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According to The Business Research Company's, 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 in the historic period can be attributed to increasing incidence of cardiovascular diseases, strong economic growth in emerging markets, the increase in pharmaceutical r&d expenditure and increased healthcare expenditure.

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 the increase in smoking cessation, the rapid growth in the aging population, the increasing healthcare expenditure and the increase in cardiovascular diseases. Major trends in the forecast period include technological advancement in transdermal skin patches, advancements in diabetes transdermal patches, robust research and development activities, product innovation, collaborations and partnerships, wearable skin patches, advancements in microneedle patches for vaccination and new iontophoresis patches.

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Market Drivers and Trends:

The increasing prevalence of cardiovascular disease is expected to propel the growth of the transdermal skin patches market going forward. Cardiovascular diseases are ailments that have an impact on the heart and blood vessels. The development of fatty deposits inside the arteries (atherosclerosis) and a higher risk of blood clots are typically connected with it. Transdermal skin patches are used to prevent episodes of angina (chest pain) in people who have coronary artery disease (narrowing of the blood vessels that supply blood to the heart). These are also used to improve bioavailability for the treatment of heart failure. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based public health agency, about 695,000 people in the United States died from heart disease in 2021-that's 1 in every 5 deaths. Coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Therefore, the increasing prevalence of cardiovascular disease is driving the growth of the transdermal skin patches market.

Major companies operating in the transdermal skin patches market are increasing their focus on introducing innovative products and getting them approved to gain a competitive edge in the market. Innovative products refer to offering new or improved solutions, such as drugs, medical devices, or other products, to existing problems or needs. For instance, in March 2022, Noven Pharmaceuticals Inc., a US-based pharmaceutical company, announced the U.S. Food and Drug Administration's (FDA), a US-based federal agency, approval of the XELSTRY (dextroamphetamine) transdermal system. It is the first and only approved amphetamine patch for the treatment of ADHD (Attention-Deficit or Hyperactivity Disorder). XELSTRYM should be used two hours before an effect is required, and it should be eliminated nine hours later. Depending on the clinical response and tolerability, the final dosage should be tailored.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

The Chemours Company, Tronox Holdings plc, BASF SE, Kronos Worldwide Inc., Venator Materials PLC, Lanxess AG, Clariant, Merck Group, Altana AG, DIC Corporation, Hangzhou Tiankun Chem Co. Ltd, Qingdao Haiwan Specialty Chemicals Co. Ltd, Hangzhou Chungyo Chemicals, Hangzhou Han-color Chemical Co. Ltd., Kiri Industries Ltd., Heubach India, Atul Ltd., Clariant Chemicals (India) Ltd., K. Sakai & Co. Ltd., Asahi Songwon Colors Ltd., Atul Ltd., Sudarshan Chemical Industries Ltd., Taoka Chemical Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd.

Transdermal Skin Patches Market 2024 Key Insights:

• 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%.
• Rising Prevalence Of Cardiovascular Disease Boosts Transdermal Skin Patches Market
• Innovation Key For Competitive Edge In Transdermal Skin Patches Market
• North America was the largest region in the global transdermal skin patches market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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