Pune, India, Sept. 04, 2023 (GLOBE NEWSWIRE) -- A transdermal medical patch, also known as medicated patch or skin patch, is a type of medical device designed to deliver medications or other therapeutic substances through the skin and into the blood stream. These patches are typically thin, adhesive patches that applied directly to the skin allowing the medication to be absorbed gradually over a specified period. Transdermal patches provide a convenient method of medication administration. They can be applied to the skin and worn for a specified duration, often ranging for a few hours to several days, depending on the medication and desired therapeutic effect.
Transdermal Medical Patch Market in terms of revenue was estimated to be worth $8.24 billion in 2022 and is poised to reach $10.79 billion by 2028, growing at a CAGR of 4% from 2023 to 2028 according to a new report published by The Insight Partners.
The growth for the transdermal medical patch market is driven by increasing aging population, increasing prevalence of chronic diseases and growing consumption of tobacco and increasing partnerships with foreign entities.
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Browse Comprehensive TOC on "Transdermal Medical Patch Market Forecast to 2028 - Global Analysis by Type (Single Layer Drug-in-Adhesive, Multi-layer Drug-in-Adhesive, Reservoir, Vapor Patch, and Matrix), Application (Neurologic Conditions, Pain Management, Nicotine Cessation, Cardiovascular Disorders, Hormonal Therapy, and Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)."
List of Tables - 83
List of Figures - 76
No. of Pages – 194
Global Transdermal Medical Patch Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 8.24 Billion in 2022 |
| Market Size Value by | USD 10.79 Billion by 2028 |
| Growth rate | CAGR of 4% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2022 |
| Segments covered | Type, Application, and Distribution Channel |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
Increasing Strategic Initiatives Will Likely Offer Opportunities to Market Players in Global Transdermal Medical Patch Market Growth:
Products facilitating self-administration and home care drug delivery systems, as well as growing pharmaceutical company partnerships, are likely to accelerate the adoption of transdermal medical patches in the upcoming years. In February 2023, DuPont Healthcare collaborated with TNO Holst Centre and Pronat Medical to develop a new wearable medical adhesive concept patch for monitoring, diagnostics, or treatment. In December 2022, Henkel collaborated with Quad Industries to create a new concept enabling faster development of health patches for the medical industry.
In February 2023, Revive Therapeutics Ltd. entered into a research collaboration agreement with PharmaTher Holdings Ltd. to evaluate the delivery of 3,4-Methylenedioxymethamphetamine ("MDMA") using PharmaTher's novel microneedle patch ("MN-Patch") delivery technology. The MDMA MN-Patch enables flexible drug load capacity and combinations, controlled released delivery, and the ability to present desired pharmacokinetic and safety profiles, overcoming the potential obstacles of oral dosing.
Therefore, innovative technologies for medical patches are highly valued due to the enormous market growth potential and the need to improve the performance of these patches positively impact patient comfort and compliance. Such strategic initiatives will likely offer growth opportunities to market players and assist in attaining a significant position in the transdermal medical patch market.
Impact of COVID-19 Pandemic on Global Transdermal Medical Patch Market:
The transdermal medical patch market had witnessed a shortfall at the beginning of the COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lockdown announced by the majority of countries across the world that caused disruptions in manufacturing and supply chain operations. During the pandemic the healthcare industry focused primarily on addressing the immediate challenges related to the virus, such as testing, treatment, and vaccination efforts. Non-essential medical procedures and treatments were often postponed or scaled back to prioritize COVID-19 patients. This may have had an impact on the overall demand for medical patches, particularly for nonurgent applications. On the other hand, the pandemic also highlighted the importance of remote monitoring and telemedicine solution as healthcare systems sought to limit in-person visits and reduce the risk of transmission. Furthermore, the pandemic led to an increased focus on drug delivery systems, as researchers and pharmaceutical companies explored innovative ways to administer vaccines and treatment. Medical patches that can deliver drugs or vaccine transdermal offered advantages in terms of ease-of-use patient compliance, and potentially more stable drug formulation. Overall, the impact of COVID-19 on the transdermal medical patch market in across the globe is likely to be mix of challenges and opportunity. Factors such as the specific application of the patches, regulatory considerations, healthcare systems priorities, and technological advancement will play a role in determining the market dynamics during and after the pandemic which could lead to the transdermal medical patch market growth in the forecasted period. Hence, the outbreak of COVID-19 has positively impacted the transdermal medical patch market.
Global Transdermal Medical Patch Market: Competitive Landscape
Hisamitsu Pharmaceutical Co Inc, Medline Industries LP, Johnson & Johnson, Novartis AG, Teva Pharmaceutical Industries Ltd, UCB SA, Viatris Inc, Endo Pharmaceuticals Inc, Boehringer Ingelheim International GmbH, and Corium, LLC are a few key companies operating in the transdermal medical patch market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name.
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Global Transdermal Medical Patch Market - Key Industry Dynamics:
Drivers
- Increasing Prevalence of Chronic Diseases
- Growing Consumption of Tobacco
Restraints
- Recalls of Transdermal Medical Patches due to Drug Failure
Opportunities
- Increasing Strategic Initiatives
Future Trends
- Advancements in Smart Patches and Three-Dimensional (3D)-Printed Patches
Recent Developments:
In September 2022, Corium, Inc launched ADLARITY (donepezil transdermal system) and is available for prescription in the U.S. for treating patients with mild, moderate, or severe dementia of Alzheimer's type.
In June 2022, Hisamitsu Pharmaceutical Co., Inc. been approved for the additional indications of “low back pain, humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis” for ZICTHORU Tapes, transdermal, pain treatment NSAID patch in Japan. The product was approved for manufacturing and marketing approval for “analgesia in various cancer” in March 2021. This approval is based on the data of Phase III clinical studies that evaluated the efficacy and safety of the product in patients with low back pain, humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis. With this approval of the additional indications, Hisamitsu expects the product to be a new option for the treatment of low back pain, humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis.
In August 2021, Hisamitsu Pharmaceutical Co., Inc. has submitted a new drug application for the additional indications of “low back pain, humeroscapular periarthritis, cervico-omo-brachial syndrome and tenosynovitis” for ZICTHORU Tapes, transdermal, pain treatment NSAID patch in Japan. Hisamitsu has confirmed the efficacy and safety of the product in clinical trials in patients with low back pain and patients with humeroscapular periarthritis, cervico-omo-brachial syndrome, and tenosynovitis. The product is a systemic transdermal formulation developed using Hisamitsu’s TDDS (Transdermal Drug Delivery System) technology.
In August 2021, Hisamitsu Pharmaceutical Co., Inc. announced the approval of the additional indications of cancer pain relief for pediatric patients for FENTOS Tapes, a transdermal pain management patch in Japan. Hisamitsu Pharmaceutical conducted a clinical study in pediatric cancer pain patients (aged 2 to 19 years old) and confirmed the efficacy and safety of the product. With this approval, the product became the first strong opioid patch in Japan with an indication for pediatric cancer pain. Hisamitsu Pharmaceutical expects the product to be a new option for treating cancer pain.
Report Spotlights:
- Progressive industry trends in the transdermal medical patch market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the transdermal medical patch market from 2023 to 2028
- Estimation of global demand for transdermal medical patch
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the transdermal medical patch market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the transdermal medical patch market size at various nodes
- Detailed overview and segmentation of the market, as well as the transdermal medical patch industry dynamics
- Size of the transdermal medical patch market in various regions with promising growth opportunities
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