Global Transdermal Skin Patches Market Forecast Report, 2024-2030: A $9.9B Projected Industry, Dominated by Teva Pharma, 3M Company, Nitto Denko Corporation, and Johnson & Johnson

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Jan 19, 2024, 12:15 ET

DUBLIN, Jan. 19, 2024 /PRNewswire/ -- The "Global Transdermal Skin Patches Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Transdermal Skin Patches Market is predicted to reach at US$ 9.90 billion by 2030, according to the report. The market is expected to grow at a CAGR of 3.48% from 2024 to 2030.

Chronic illnesses, a pervasive international health subject responsible for approximately 73% of global deaths, according to the World Health Organization, are driving improvements in drug delivery techniques. The upward push of effective and consumer-friendly transdermal skin patches is transforming therapy strategies. These patches, present controlled and sustained drug launches, enhance compliance and efficacy. A growing preference for non-invasive drug delivery, selected for its reduced soreness and side effects compared to traditional strategies, also contributes to recognizing transdermal patches. Expanding past their authentic applications, those patches are utilized in numerous therapeutic regions and cardiovascular, neurological, and hormonal problems, marking a substantial evolution in healthcare delivery techniques.

Further, a burgeoning trend in personalized medicine aligns with the suitability of transdermal skin patches, supplying tailor-made formulations to optimize drug shipping for individual patient needs. This technique allows clinicians to enhance remedy consequences through custom-designed patch formulations. Advancements in smart patches, integrating digital components to display health parameters and modify drug delivery, mark a progressive improvement in chronic disease management. These smart patches maintain the potential to provide real-time feedback and personalized changes, remodeling the landscape of customized healthcare. Also, microneedle patches, designed for beneficial drug penetration and absorption, present a leap forward for capsules with poor bioavailability through conventional transdermal patches, similarly increasing the scope and efficacy of transdermal drug delivery. Consequently, the Global Transdermal Skin Patches Market was worth US$ 7.79 billion in 2023.

Likewise, the rapid population boom and escalating chronic diseases in rising economies propel the demand for transdermal patches. In China, the largest Asian market, domestic and international manufacturers benefit from a growing financial system and elevated healthcare spending. Japan prioritizes research and improvement, focusing on customized medication and innovative patch technology in its well-set-up healthcare infrastructure. India, experiencing fast growth, attributes it to a big population, elevated chronic diseases, and improved healthcare affordability, prompting more investments in transdermal patch manufacturing. As an innovation leader, South Korea features advanced transdermal patch technology sponsored by authority initiatives that are actively driving their adoption.

Matrix-type transdermal skin patch is experiencing a substantial boom worldwide because of its effectiveness in drug release management

By type, the Global Transdermal Skin Patches Market is fragmented into Matrix, Reservoir, Drug-in-Adhesive, and Other Types. Matrix patches consist of a polymer matrix containing the drug, which allows for a regular and sustained release over a prolonged period. This method enhances patient compliance, reduces side effects, and guarantees a more predictable therapeutic outcome. The simplicity of the matrix layout, coupled with its versatility in accommodating various drug formulations, has contributed to its reputation. As a result, pharmaceutical companies increasingly choose matrix-type transdermal patches, driving their substantial increase in the international market.

Pain relief applications dominate the global transdermal skin patches market due to the inherent benefits of this delivery method in addressing localized discomfort

By application, the Global Transdermal Skin Patches Market is divided into Pain Relief, Smoking Reduction and Cessation Aids, Overactive Bladder, Hormonal Therapy, and Others. Transdermal patches for pain relief provide a focused and managed release of analgesic medicines immediately through the pores and skin, imparting efficient and consistent ache control. This method minimizes systemic side effects of oral medicinal drugs, offering a non-invasive and handy alternative. The ease of application and extended comfort make transdermal patches preferred for situations like continual pain, arthritis, and post-surgical recovery. The market dominance displays the efficacy, patient choice, and therapeutic advantages of transdermal patches in pain management.

Online pharmacies are gaining a developing proportion in the worldwide transdermal skin patches market due to increased consumer convenience and accessibility

By distribution channel, the Global Transdermal Skin Patches Market is categorized into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The digitalization of healthcare has facilitated easy online shopping, allowing clients to order transdermal patches from the comfort of their houses. This removes the need for physical visits to brick-and-mortar pharmacies. Moreover, online structures offer a broader product choice, targeted statistics, and frequently competitive pricing. The rising trend of e-commerce in the pharmaceutical zone and the continued shift towards virtual health solutions position online pharmacies as a good sized and convenient channel for purchasers seeking transdermal skin patches.

United States is leading in the global transdermal skin patches market

By country, the Global Augmented Reality (AR) Transdermal Skin Patches Market is categorized into United States, Canada, Mexico, Brazil, United Kingdom, Germany, France, Italy, Spain, Netherlands, China, Japan, India, South Korea, Australia, South Africa, and the United Arab Emirates. The U.S. leads the worldwide transdermal skin patches market because of robust healthcare infrastructure, technological innovation, and an excessive incidence of chronic sicknesses. The nation's early adoption of advanced patch technology, favorable regulatory environment, and significant investments in research and development contribute to its dominance. The convenience of transdermal patches aligns with the non-invasive technique searched for long-term medication adherence in situations like aches, diabetes, and hypertension. The presence of fundamental patch producers and 3M, Johnson & Johnson, and Mylan further strengthens the U.S.'s market position. Industry associations like the Transdermal Drug Delivery Consortium promote awareness and adoption of transdermal patches in U.S. healthcare.

Key Players

Teva Pharmaceutical Industries Ltd, 3M Company, Nitto Denko Corporation, Johnson & Johnson, Luye Pharma Group, Bayer, Novartis AG, Beiersdorf AG, Viatris Inc., and Abbott Laboratories are a few of the well-known companies that participate in the worldwide market for transdermal skin patches. In June 2023, 3M Company obtained FDA approval for its new transdermal patch, Duloxetine Topical Patch 50 mcg/hour. This approval marks a significant advancement in PHN management, providing patients with a non-invasive and efficient choice for pain therapy.

Type - Transdermal Skin Patches Market breakup from 4 viewpoints:

Matrix
Reservoir
Drug-in-Adhesive
Other Types

Application - Transdermal Skin Patches Market breakup from 5 viewpoints:

Pain Relief
Smoking Reduction and Cessation Aid
Overactive Bladder
Hormonal Therapy
Others

Distribution Channel - Transdermal Skin Patches Market breakup from 3 viewpoints:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

Company Analysis

Teva Pharmaceutical Industries Ltd.
3M Company
Nitto Denko Corporation
Johnson & Johnson
Luye Pharma Group
Bayer
Novartis AG
Beiersdorf AG
Viatris Inc.
Abbott Laboratories

All companies have been covered from 3 viewpoints:

Overview
Recent Developments
Revenue

For more information about this report visit https://www.researchandmarkets.com/r/g3t9dc

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