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Transdermal Medical Patch Market Exclusive Report with Detailed Study Analysis
According to the latest research by InsightAce Analytic, the Global Transdermal Medical Patch Market is valued at US$ 8.15 Bn in 2022, and it is expected to reach US$ 11.86 Bn by 2031, with a CAGR of 4.3% during a forecast period of 2023-2031.
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A transdermal patch is a medicated adhesive applied to the skin, designed to deliver drugs gradually through the skin and into the bloodstream. This method is often seen as a convenient alternative to oral medications or injections, especially for individuals seeking ease of use and consistent drug delivery. These patches provide a non-invasive option for long-term treatment, reducing the need for repeated dosing and minimizing systemic side effects.
The growing preference for transdermal patches is opening up substantial opportunities in the medical patch market. As demand rises, the market is expected to see significant growth. However, the production of these patches involves high setup costs, advanced technology, and a skilled workforce, which can pose a challenge for manufacturers-especially newcomers.
List of Prominent Players in the Transdermal Medical Patch Market:
• Hisamitsu Pharmaceutical co inc
• Medline Industries LP
• Johnson & Johnson
• Novartis AG
• Teva Pharmaceutical Industries Ltd
• UCB SA
• Viatris Inc
• Endo Pharmaceutical Inc
• Boehringer ingelheim international GmbH
• Corium LLC
• Luye Pharma Group
• Teikoku Pharma
• Samyang Holdings Corporation
• Gedeon Richter PLC
• AdhexPharma
• Sparsha Pharma International Pvt Ltd.
Market Dynamics:
Drivers-
he growing popularity of transdermal medical patches is largely driven by the increasing demand for nicotine patches. This surge is linked to the rising use of e-cigarettes among middle and high school students, where e-cigarettes have become the most commonly used tobacco product-followed by cigars, pipes, and other traditional forms. This trend supports the broader expansion of the transdermal patch market, particularly in tobacco cessation applications.
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Challenges:
Despite its growth potential, the transdermal patch market faces several hurdles. High manufacturing costs, potential skin irritation, and the complexity of adopting advanced technologies present significant barriers. The onset of the COVID-19 pandemic further disrupted progress, particularly in emerging markets, where lockdowns and isolation measures delayed the rollout of newer treatments.
Regional Trends:
North America is expected to dominate the global transdermal patch market in terms of revenue, thanks to its robust healthcare infrastructure, strong presence of leading pharmaceutical companies, and ongoing research initiatives. Economic stability and continuous investments in healthcare innovations further contribute to the region's market leadership.
Meanwhile, Europe is also a significant player in the transdermal patch landscape. The region benefits from a developed economy, growing healthcare demands, and a large untapped market. The presence of key market participants and strategic collaborations for expansion in European countries further position this region for steady growth.
Recent Developments:
• In June 2023, Teikoku Pharma's dexmedetomidine transdermal device was granted a fast-track designation by the US FDA. The transdermal method developed by the business was utilised to administer dexmedetomidine for a duration of four days to effectively manage chronic pain.
• In March 2022, Corium, a biopharmaceutical business, disclosed that the FDA has granted approval for the usage of Adlarity in the treatment of individuals afflicted with varying degrees of dementia linked to Alzheimer's disease.
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Segmentation of Transdermal Medical Patch Market-
By Type-
• Single Drug-in-Adhesive
• Multi-layer Drug-in Adhesive
• Reservoir
• Vapor Patch
• Matrix
By Application-
• Neurologic conditions
• Pain Management
• Nicotine Cessation
• Cardiovascular Disorders
• Hormonal Therapy
• others
By Distribution Channel-
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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