Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "Global Transdermal Patches Market by Type (Drug-in-adhesives, Matrix, Reservoir Membrane), Adhesive (Acrylic, Silicone, Hydrogel), Application (Pain, CVS, Hormonal), Distribution Channel (Pharmacy (Retail Online, Hospital)), End-user, and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global transdermal patches market is projected to reach USD 8 Billion by 2029 from USD 6.2 Billion in 2023, at a CAGR of 4.5% from 2023 to 2029
The market study covers the transdermal patches market across various segments. It aims to estimate the market size and the growth potential of this market across different segments by patch type, adhesive type, application, distribution type, end-user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
The factors driving the growth of the global transdermal patches market include the rising prevalence of chronic diseases, the expanding use of analgesic patches, technological advancements in transdermal patches, and the shift from traditional injections to transdermal patches. Nonetheless, during the anticipated period, factors such as drug failures, recalls of transdermal drug delivery systems, and increasing healthcare facility expenses will probably constrain market expansion to some degree.
The transdermal patch market in Asia-Pacific is expected to grow at the highest CAGR due to an array of factors that highlight the region's changing healthcare landscape. Transdermal patches are becoming more and more popular due to the rising incidence of chronic illnesses and rising knowledge of non-invasive medication delivery techniques.
The huge and aging population in the area is a major factor in the rising cost of healthcare, which in turn is driving up demand for accessible and patient-friendly treatment choices. The transdermal patch market in Asia-Pacific is also expected to rise as a result of breakthroughs in pharmaceutical research and development, rising disposable incomes, and improved healthcare infrastructure.
The matrix patches segment is expected to grow with the highest CAGR in patch type of the transdermal patches market
Due to a number of characteristics that increase the patch's appeal and efficacy, the matrix patches segment is expected to grow at the highest CAGR in the transdermal patch market. In matrix patches, the medicine is evenly dispersed within a polymer matrix, providing a straightforward but effective design.
This design promotes the best possible drug absorption via the skin by enabling a prolonged, regulated release of the medicinal substance. Due to its adaptability, matrix patches are widely used in a variety of therapeutic fields. This is because they may be used to administer a broad range of drugs. Patient compliance and matrix patch efficacy are increasing as a result of ongoing technological improvements in matrix patch formulation and manufacturing.
The silicone adhesives segment is expected to grow with the highest CAGR in the adhesive type of the transdermal patches market
Since silicone adhesives have particular advantages over other adhesives, it is expected that the silicone adhesive patches segment of the transdermal patch market will grow at the fastest CAGR. Silicone adhesives ensure patient comfort and adherence by forming a thin yet strong connection with the skin. Because they are biocompatible and hypoallergenic, they can be used by a wide range of patients with less chance of skin sensitivity or irritation. Silicone adhesive patches' conformability and flexibility make them more comfortable to wear and encourage prolonged and regular use.
Based on the Application Type, the pain management segment is expected to grow by the highest CAGR in the transdermal patches market
The market for transdermal patches is expected to grow at the fastest rate in the pain management segment due to the growing need for safe, non-invasive pain reduction options. Pain-relieving transdermal patches deliver an even and steady therapeutic impact by releasing analgesic drugs through the skin in a targeted and regulated manner. This method offers an alternative to invasive therapies and conventional oral drugs, making it especially tempting to people with chronic pain disorders.
Based on the Distribution Channel, The online Pharmacies segment is expected to grow with the highest CAGR in the transdermal patches market
As a distribution channel for transdermal patches, the online pharmacies segment is anticipated to grow at the fastest rate in the market. This is due to the general trend of digitalization and the growing dependence of healthcare items on e-commerce platforms. Customers can get transdermal patches easily and conveniently from the comfort of their homes with the help of online pharmacies. The increasing popularity of e-commerce, together with its convenient ordering and doorstep delivery features, corresponds with the changing needs of patients who want hassle-free access to healthcare.
Based on the End User, The Homecare Settings segment is expected to grow with the highest CAGR in the transdermal patches market
Given the growing trend towards patient-centered and personalized healthcare, the transdermal patch market's homecare settings sector is expected to grow at the fastest rate as an end-user. For self-administration in domestic settings, transdermal patches are especially well-suited since they offer a convenient and non-invasive way to administer medication.
The need for accessible, long-term treatment alternatives is fueled by the aging population and the rise of chronic illnesses. Transdermal patches are a perfect fit with this new paradigm in healthcare since homecare settings provide people the freedom to take care of their healthcare needs on their own.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 282 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $6.2 Billion |
| Forecasted Market Value (USD) by 2029 | $8 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Premium Insights
- Rising Prevalence of Chronic Diseases to Drive Market
- Drug-In-Adhesive Patches Segment Accounted for Largest Market Share in 2022
- China to Register Highest Growth During Forecast Period
- North America Will Continue to Dominate Transdermal Patches Market During Forecast Period
- Developing Markets to Register Higher Growth During Forecast Period
Market Dynamics
Drivers
- Increasing Prevalence of Chronic Diseases
- Growing Adoption of Analgesic Patches
- Technological Advancements in Transdermal Patches
- Switching from Conventional Needle Injections to Transdermal Patches
Restraints
- High Procedural Cost of Transdermal Surgeries and Associated Products
- Drug Failure and Recalls of Transdermal Drug Delivery Systems
- Rising Cost of Healthcare Facilities
Opportunities
- Collaborations Between Pharmaceutical Companies and Drug Delivery Firms
- Self-Administration and Home Care Drug Delivery Systems
Challenges
- Technical Barriers Related to Skin Irritation and Permeability
- Lack of Skilled Professionals
Company Profiles
Key Players
- Hisamitsu Pharmaceutical Co. Inc.
- Viatris Inc.
- Novartis AG
- Boehringer Ingelheim International GmbH
- Johnson & Johnson
- UCB SA
- Endo International PLC
- Luye Pharma Group
- Abbvie Inc.
- Nitto Denko Corporation
- Cipla Inc.
- Teva Pharmaceutical Industries Ltd.
- Agile Therapeutics
- Bayer AG
- Amneal Pharmaceuticals LLC
- Hikma Pharmaceuticals PLC
Other Players
- Alvogen Group Inc.
- Sparsha Pharma International Pvt. Ltd.
- Iontopatch
- Medherant Limited
- Adhexpharma
- Evernow
- Lead Chemical Co. Ltd.
- Purdue Pharma L.P.
- Mundipharma International
- Companies Providing Adhesives for Transdermal Patches
- Wacker Chemie AG
- Business Overview
- Products Offered
- Elkem ASA
- Business Overview
- Products Offered
- DuPont de Nemours, Inc.
- Business Overview
- Products Offered
- Katecho, LLC
- Polymer Science, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/vwwgy1
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