Global Transdermal Skin Patches Market Size By Product Type (Single-layer Drug-in-Adhesive, Multi-layer Drug-in-Adhesive, Reservoir, Vapour Patch), By Application (Neurologic Conditions, Pain Management, Nicotine Cessation, Cardiovascular), By Geographic Scope And Forecast

Transdermal Skin Patches Market Size And Forecast

Transdermal Skin Patches Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2028.

The global Transdermal Skin Patches Market is expected to witness significant growth during the forecast period due to factors such as rising advantages over the oral and ease of administration, ingesting medications, and prolonged activity of the drug. Although these factors boost the growth of the market. The Global Transdermal Skin Patches Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Transdermal Skin Patches Market Definition

A transdermal patch is a type of transdermal technology. It is a medicated adhesive patch with is placed on the skin to deliver a specific dose of medication. These patches deliver medication dose through the skin using diffusion technique, which later gets released in the bloodstream over a long period of time. These patches are effectively used for the treatment of cardiac and hormonal disorders. These patches are also used for the treatment of migraine, Parkinson’s disease, HIV, osteoporosis, Alzheimers, strokes, dermatology-related issues, and restless leg syndrome treatments.

Global Transdermal Skin Patches Market Overview

The global Transdermal Skin Patches Market is expected to witness significant growth during the forecast period due to factors such as rising advantages over the oral and ease of administration, ingesting medications, and prolonged activity of the drug. Although these factors boost the growth of the market, factors such as the non-permeability of the skin among the patients to absorb a range of medication coupled with the development of contact dermatitis at the site of the application of transdermal patches can limit the growth of the market.

Transdermal skin patches provide convenient and pain-free self-administration of drugs, leading to patient comfort and relief, especially in chronic condition where long-term treatment is necessary, that will boost the global Transdermal Skin Patches Market in the forecast period. Transdermal skin Patches are being marketed that can be worn anywhere from as little as eight hours to as long as seven days, depending on their therapeutic indication. This advancement in patches would drive the global market in the forecast period.

The inability of the skin to absorb a large range of medications and the development of contact dermatitis in few cases might restrict the market for transdermal patches during the given time frame. Although these factors boost the growth of the market, factors such as the non-permeability of the skin among the patients to absorb a range of medication coupled with the development of contact dermatitis at the site of the application of transdermal patches can limit the growth of the market.

Global Transdermal Skin Patches Market Segmentation Analysis

The Global Transdermal Skin Patches Market is segmented on the basis of Product Type, Application, And Geography.

Transdermal Skin Patches Market, By Product Type

• Single-layer Drug-in-Adhesive
• Multi-layer Drug-in-Adhesive
• Reservoir
• Vapour Patch
• Matrix

Based on Product Type, the market is bifurcated into Single-layer Drug-in-Adhesive, Multi-layer Drug-in-Adhesive, Reservoir, Vapour Patch, and Matrix. A transdermal patch is a type of transdermal technology. It is a medicated adhesive patch that is placed on the skin to deliver a specific dose of medication. These patches deliver medication dose through the skin using diffusion technique, which later gets released in the bloodstream over a long period of time.

Transdermal Skin Patches Market, By Application

• Neurologic Conditions
• Pain Management
• Nicotine Cessation
• Cardiovascular

Based on Application, the market is bifurcated into Neurologic Conditions, Pain Management, Nicotine Cessation, and Cardiovascular. Transdermal skin patches provide convenient and pain-free self-administration of drugs, leading to patient comfort and relief, especially in the chronic condition where long-term treatment is necessary, that will boost the global Transdermal Skin Patches Market in the forecast period.

Transdermal Skin Patches Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, the Global Transdermal Skin Patches Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to hold the largest market share in the forecast period. The attendance of significant players such as Microsoft and Google will boost the market growth with the help of incorporating technological advancements in the product portfolio. Increased disbursements of enterprises in Research and Development would expand the market growth across the region.

Key Players

The “Global Transdermal Skin Patches Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Teva Pharmaceuticals USA Inc., Novartis AG, Teikoku Pharma USA Inc., Mylan Inc., 3M, Luye Pharma Group, Purdue Pharma Manufacturing LP, Henan Lingrui Pharmaceutical Ltd, and Mundipharma. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• Mylan, a pharmaceutical business that makes transdermal skin patches, and Upjohn, a Pfizer subsidiary, announced the formation of Viatris in 2019. The new collaboration’s goal is to give more breakthrough medications to patients around the world.

Mergers and Acquisitions

• Canoa Inc., a Delaware-based healthcare and pharmaceuticals firm, purchased ProSolus Inc in 2019 to strengthen its position and develop new transdermal treatments. ProSolus is a pharmaceutical company based in the United States that specialises in transdermal solutions.
• Nutriband Inc., a pharmaceutical and health-care company based in the United States that specialises in transdermal and topical technology, bought 4P Therapeutics Inc for an unknown sum in 2018. Nutriband hoped to broaden its product portfolio with the acquisition, which included transdermal technologies, prescription medications, and clinical development. 4P Therapeutics Inc is a biotechnology health-care research and development firm established in the United States that focuses on innovative drug delivery systems.

Product Launches and Product Expansions

• Luye Pharma Group introduced the Rivastigmine Transdermal Patch for the treatment of mild to moderate Alzheimer’s disease in China in June 2021.
• Vektor Pharma developed a generic version of the transdermal Neupro patch (rotigotine), which is commonly used to relieve the symptoms of Parkinson’s disease, in June 2020.

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