Transdermal Patches Market in terms of revenue was estimated to be worth $6.2 billion in 2023 and is poised to reach $8.0 billion by 2029, growing at a CAGR of 4.5% from 2023 to 2029.
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 developments in transdermal patches, and the shift from traditional injections to transdermal patches. However, during the expected duration, factors such as medication failures, recalls of transdermal drug delivery systems, and escalating healthcare facility expenses are anticipated to limit the market's expansion to a certain degree.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=190809043
The transdermal patches market is further segmented based on the patch type, adhesive type, application, distribution channel, end-user, and region.
The Drug-In-Adhesives segment is expected to account for the largest share, by patch type in the transdermal patches market.
In 2022, Due to its widely accepted nature and intrinsic benefits, the drug-in-adhesive patch type holds the biggest market share in the transdermal patch industry. With this kind of patch, the therapeutic agent is combined directly with the adhesive layer, guaranteeing a steady and regulated release of medication via the skin. Since there are no more layers or components required, the design's simplicity improves patient compliance. Drug-in-adhesive patches are particularly intriguing to people looking for non-invasive and user-friendly treatments since they provide a discreet and convenient way to deliver drugs.
The acrylic adhesives segment is expected to account for the largest share On the basis of adhesive type in the transdermal patches market.
The transdermal patches market is divided into Acrylic Adhesives, Silicone Adhesives, Hydrogel Adhesives and Other Adhesives based on adhesive type. The transdermal patch market is dominated by the acrylic adhesive patch type because of its remarkable performance and adaptability. Acrylic adhesives ensure that the patch is securely attached to the skin for the necessary length of time for medication administration by providing a strong yet soft connection. This kind of adhesive is well-known for being dependable and long-lasting, making it ideal for transdermal medication administration applications. When formulators are looking to create patches for different therapeutic locations, acrylic adhesives are a desirable option since they work well with a wide range of drugs.
Based on application, the pain management segment is expected to grow at the highest CAGR during the forecast period.
The pharmaceutical packaging equipment market is divided into Pain Management, Smoking Cessation, Hormone Replacement Therapy, Cardiovascular Disorder, Central Nervous System Disorder and Others based on the application. During the projection period, the transdermal patch market is dominated by the pain management patch because of its effectiveness, user-friendliness, and ease of use. With the use of these patches, painkillers can be released under control and for an extended period of time via the skin and bloodstream. Transdermal patches are especially tempting to people looking for a discrete and hassle-free way to control their pain because of their ease of application and non-invasive nature. Furthermore, transdermal patches have the potential to enhance patient compliance and lower the possibility of gastrointestinal adverse effects as compared to oral drugs.
Based on End Users, the homecare settings segment is expected to grow at the highest CAGR during the forecast period.
With the highest CAGR in the transdermal patch market, homecare settings have become the largest category. This is mostly because patient-centric approaches are becoming more and more important, and healthcare preferences are changing. Transdermal patches are an easy-to-use and practical way to provide medication, which makes them ideal for self-administration in the comfort of one's own home. The need for transdermal patches in homecare settings has been fueled by their ease of use and the increasing trend of patients actively controlling their own health.
Based on Distribution Channel, the Hospital Pharmacies segment is expected to hold the largest share of the transdermal patches market.
As a distribution channel for transdermal patches, hospitals have carved out the greatest market share thanks to a number of important features that complement the dynamics of healthcare delivery. Transdermal patches are among the many medical treatments that hospitals handle and supply; these facilities act as the main foci for patient care. Hospital pharmacies provide a regulated and controlled environment that guarantees the correct handling and storage of these prescription drugs.
North America to dominate the transdermal patches market during the forecast period.
With a share in 2022, North America will be the largest regional market for transdermal patches market. The transdermal patch market is dominated by North America in the largest sector for a number of reasons, including a substantial market share. Transdermal patches are widely used in the region due in large part to its sophisticated healthcare infrastructure, high rate of chronic illnesses, and stable pharmaceutical regulations. The need for these patches in the treatment of chronic ailments like pain, hormone imbalances, and cardiovascular diseases has increased due to the aging population and greater awareness of non-invasive drug delivery techniques.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=190809043
Transdermal Patches Market Dynamics:
Drivers:
Growing adoption of analgesic patches
Restraints:
Drug failure and recalls of transdermal drug delivery systems
Opportunities:
Collaborations between pharmaceutical companies and drug delivery firms
Challenge:
Technical barriers related to skin irritation and permeability
Key Market Players of Transdermal Patches Industry:
The prominent players in the global transdermal patches market are Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Novartis AG (Switzerland), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Endo International plc. (Ireland), Luye Pharma Group (China), AbbVie Inc. (U.S.), Nitto Denko Corporation (Japan), Cipla Inc. (India), Teva Pharmaceutical Industries Ltd. (Israel), Agile Therapeutics (U.S.), Bayer AG (Germany), Amneal Pharmaceuticals LLC. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Alvogen Group Inc. (U.S.), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), AdhexPharma (France), Evernow (U.S.), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.).
A breakdown of the primary participants (supply-side) for the transdermal patches market referred to for this report is provided below:
By Company Type: Tier 1–45%, Tier 2–30%, and Tier 3–25%
By Designation: C-level–42%, Director Level–29%, and Others–29%
By Region: North America–30%, Europe–25%, Asia Pacific–30%, Latin America- 10%, Middle East & Africa-5%
Transdermal Patches Market Recent Developments:
In July 2023, Industria Macchine Automatiche S.P.A. (Italy) acquired Phoenix Italia S.r.l. (Milano). IMA completed the acquisition of 60% of Phoenix Italia S.r.l. and 100% of its subsidiary Phoenix Tech S.r.l., both companies based in Bareggio (Milano), from its sole shareholder Phoenix Group Holding S.r.l.
In July 2023, IMA completed the purchase of 70% of Mespic S.r.l. and 100% of its Illinois-based subsidiary, Mespic North America Corporation, from its sole shareholder, Holding FGLG S.r.l..
In August 2022, SEA Vision Group and Marchesini Group launched the following solutions: the INTEGRA 720V complete robotized blister line, the BL-A525 CW high-speed labeler, and the complete Track & Trace software solution developed by SEA Vision. This is a solution for primary pack serialization and aggregation, comprising a complete range of technologies to print, inspect, and pack serialized blisters and perform aggregation with cartons, all integrated into a 4.0 environment.
In July 2021. Syntegon Technology GmbH (Germany) and Huhtamaki Group (Finland) collaborated. This collaboration led to the paper-based tablet packaging solution for the pharmaceutical and healthcare industries.
In March 2021, Syntegon expanded its portfolio for the production of parenteral pharmaceuticals. The company has launched the new SVP Essential, a cost-efficient version of its proven Pharmatec SVP process systems for the production of small-volume liquid pharmaceuticals.
Transdermal Patches Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall transdermal patches market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key 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 vascular 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) and challenges (Technical barriers related to skin irritation and permeability, Lack of skilled professionals)
Market Penetration: Comprehensive information on product portfolios offered by the top players in the global transdermal patches market. The report analyzes this market by patch type, adhesive type, application, distribution channel, end-user, and region.
Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global transdermal patches market.
Market Development: Comprehensive information on the lucrative emerging markets by patch type, adhesive type, application, distribution channel, end-user, and region.
Market Diversification: Exhaustive information about new products and services, growing geographies, recent developments, and investments in the global transdermal patches market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, product and service offerings, and capabilities of leading players in the global transdermal patches market.
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/transdermal-patches-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/transdermal-patches.asp
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 developments in transdermal patches, and the shift from traditional injections to transdermal patches. However, during the expected duration, factors such as medication failures, recalls of transdermal drug delivery systems, and escalating healthcare facility expenses are anticipated to limit the market's expansion to a certain degree.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=190809043
The transdermal patches market is further segmented based on the patch type, adhesive type, application, distribution channel, end-user, and region.
The Drug-In-Adhesives segment is expected to account for the largest share, by patch type in the transdermal patches market.
In 2022, Due to its widely accepted nature and intrinsic benefits, the drug-in-adhesive patch type holds the biggest market share in the transdermal patch industry. With this kind of patch, the therapeutic agent is combined directly with the adhesive layer, guaranteeing a steady and regulated release of medication via the skin. Since there are no more layers or components required, the design's simplicity improves patient compliance. Drug-in-adhesive patches are particularly intriguing to people looking for non-invasive and user-friendly treatments since they provide a discreet and convenient way to deliver drugs.
The acrylic adhesives segment is expected to account for the largest share On the basis of adhesive type in the transdermal patches market.
The transdermal patches market is divided into Acrylic Adhesives, Silicone Adhesives, Hydrogel Adhesives and Other Adhesives based on adhesive type. The transdermal patch market is dominated by the acrylic adhesive patch type because of its remarkable performance and adaptability. Acrylic adhesives ensure that the patch is securely attached to the skin for the necessary length of time for medication administration by providing a strong yet soft connection. This kind of adhesive is well-known for being dependable and long-lasting, making it ideal for transdermal medication administration applications. When formulators are looking to create patches for different therapeutic locations, acrylic adhesives are a desirable option since they work well with a wide range of drugs.
Based on application, the pain management segment is expected to grow at the highest CAGR during the forecast period.
The pharmaceutical packaging equipment market is divided into Pain Management, Smoking Cessation, Hormone Replacement Therapy, Cardiovascular Disorder, Central Nervous System Disorder and Others based on the application. During the projection period, the transdermal patch market is dominated by the pain management patch because of its effectiveness, user-friendliness, and ease of use. With the use of these patches, painkillers can be released under control and for an extended period of time via the skin and bloodstream. Transdermal patches are especially tempting to people looking for a discrete and hassle-free way to control their pain because of their ease of application and non-invasive nature. Furthermore, transdermal patches have the potential to enhance patient compliance and lower the possibility of gastrointestinal adverse effects as compared to oral drugs.
Based on End Users, the homecare settings segment is expected to grow at the highest CAGR during the forecast period.
With the highest CAGR in the transdermal patch market, homecare settings have become the largest category. This is mostly because patient-centric approaches are becoming more and more important, and healthcare preferences are changing. Transdermal patches are an easy-to-use and practical way to provide medication, which makes them ideal for self-administration in the comfort of one's own home. The need for transdermal patches in homecare settings has been fueled by their ease of use and the increasing trend of patients actively controlling their own health.
Based on Distribution Channel, the Hospital Pharmacies segment is expected to hold the largest share of the transdermal patches market.
As a distribution channel for transdermal patches, hospitals have carved out the greatest market share thanks to a number of important features that complement the dynamics of healthcare delivery. Transdermal patches are among the many medical treatments that hospitals handle and supply; these facilities act as the main foci for patient care. Hospital pharmacies provide a regulated and controlled environment that guarantees the correct handling and storage of these prescription drugs.
North America to dominate the transdermal patches market during the forecast period.
With a share in 2022, North America will be the largest regional market for transdermal patches market. The transdermal patch market is dominated by North America in the largest sector for a number of reasons, including a substantial market share. Transdermal patches are widely used in the region due in large part to its sophisticated healthcare infrastructure, high rate of chronic illnesses, and stable pharmaceutical regulations. The need for these patches in the treatment of chronic ailments like pain, hormone imbalances, and cardiovascular diseases has increased due to the aging population and greater awareness of non-invasive drug delivery techniques.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=190809043
Transdermal Patches Market Dynamics:
Drivers:
Growing adoption of analgesic patches
Restraints:
Drug failure and recalls of transdermal drug delivery systems
Opportunities:
Collaborations between pharmaceutical companies and drug delivery firms
Challenge:
Technical barriers related to skin irritation and permeability
Key Market Players of Transdermal Patches Industry:
The prominent players in the global transdermal patches market are Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Novartis AG (Switzerland), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Endo International plc. (Ireland), Luye Pharma Group (China), AbbVie Inc. (U.S.), Nitto Denko Corporation (Japan), Cipla Inc. (India), Teva Pharmaceutical Industries Ltd. (Israel), Agile Therapeutics (U.S.), Bayer AG (Germany), Amneal Pharmaceuticals LLC. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Alvogen Group Inc. (U.S.), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), AdhexPharma (France), Evernow (U.S.), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.).
A breakdown of the primary participants (supply-side) for the transdermal patches market referred to for this report is provided below:
By Company Type: Tier 1–45%, Tier 2–30%, and Tier 3–25%
By Designation: C-level–42%, Director Level–29%, and Others–29%
By Region: North America–30%, Europe–25%, Asia Pacific–30%, Latin America- 10%, Middle East & Africa-5%
Transdermal Patches Market Recent Developments:
In July 2023, Industria Macchine Automatiche S.P.A. (Italy) acquired Phoenix Italia S.r.l. (Milano). IMA completed the acquisition of 60% of Phoenix Italia S.r.l. and 100% of its subsidiary Phoenix Tech S.r.l., both companies based in Bareggio (Milano), from its sole shareholder Phoenix Group Holding S.r.l.
In July 2023, IMA completed the purchase of 70% of Mespic S.r.l. and 100% of its Illinois-based subsidiary, Mespic North America Corporation, from its sole shareholder, Holding FGLG S.r.l..
In August 2022, SEA Vision Group and Marchesini Group launched the following solutions: the INTEGRA 720V complete robotized blister line, the BL-A525 CW high-speed labeler, and the complete Track & Trace software solution developed by SEA Vision. This is a solution for primary pack serialization and aggregation, comprising a complete range of technologies to print, inspect, and pack serialized blisters and perform aggregation with cartons, all integrated into a 4.0 environment.
In July 2021. Syntegon Technology GmbH (Germany) and Huhtamaki Group (Finland) collaborated. This collaboration led to the paper-based tablet packaging solution for the pharmaceutical and healthcare industries.
In March 2021, Syntegon expanded its portfolio for the production of parenteral pharmaceuticals. The company has launched the new SVP Essential, a cost-efficient version of its proven Pharmatec SVP process systems for the production of small-volume liquid pharmaceuticals.
Transdermal Patches Market - Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall transdermal patches market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report provides insights on the following pointers:
Analysis of key 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 vascular 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) and challenges (Technical barriers related to skin irritation and permeability, Lack of skilled professionals)
Market Penetration: Comprehensive information on product portfolios offered by the top players in the global transdermal patches market. The report analyzes this market by patch type, adhesive type, application, distribution channel, end-user, and region.
Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global transdermal patches market.
Market Development: Comprehensive information on the lucrative emerging markets by patch type, adhesive type, application, distribution channel, end-user, and region.
Market Diversification: Exhaustive information about new products and services, growing geographies, recent developments, and investments in the global transdermal patches market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, product and service offerings, and capabilities of leading players in the global transdermal patches market.
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/transdermal-patches-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/transdermal-patches.asp
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