Exploring the $8.0 Billion Transdermal Patches Market

The global transdermal patches market is projected to reach 8.0 USD billion by 2029 from USD 6.2 billion in 2023, at a CAGR of 4.5%

The global transdermal patches market is projected to reach 8.0 USD Billion by 2029 from USD 6.2 Billion in 2023, at a CAGR of 4.5% from 2023 to 2029. The global market for transdermal patches is expanding as a result of a number of causes, including the rising incidence of chronic illnesses, the expanding use of analgesic patches, technological developments in transdermal patches, and the shift from traditional injections to transdermal patches. However, over the anticipated period, obstacles such as medication failure, transdermal drug delivery system recalls, and the escalating expense of healthcare facilities would probably limit market expansion to some extent.

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A transdermal patch is a medicated adhesive patch that delivers medication through the skin into the bloodstream. Transdermal patches are a convenient and effective way to deliver medication, as they can provide a steady and controlled release of medication over time.

On the basis of patch type, the transdermal patches market is segmented into Drug-In-Adhesive, Matrix Patches, Reservoir Membrane Patches, Microneedle Patches, Iontophoresis Patches, and Vapour Patches. In 2022, the Drug-In-Adhesive segment accounted for the largest share of the transdermal patches market. The drug-in-adhesive patch market is expected to continue to grow in the coming years. This is due to the increasing prevalence of chronic diseases, the growing popularity of non-invasive drug delivery methods, and the development of new and innovative drug-in-adhesive patches.

Based on adhesive type, the transdermal patches market is segmented into Acrylic Adhesives, Silicone Adhesives, Hydrogel Adhesives and Other Adhesives. In 2022, the Acrylic Adhesives segment accounted for the largest share of the transdermal patches market. The transdermal patch market is dominated by acrylic adhesive patches because of its many advantages over other kinds of adhesives. Acrylic adhesives possess strength, biocompatibility, permeability, flexibility, resistance to water, and affordability. These characteristics make them ideal for use in transdermal patches, where they may firmly stick to the skin and efficiently provide medication over an extended period of time.

Based on Application, the transdermal patches market is segmented into Pain Management, Smoking Cessation, Hormone Replacement Therapy, Cardiovascular Disorder, Central Nervous System Disorder and Others. The pain management patch claims the largest segment in the transdermal patch market due to its efficacy, convenience, and patient-friendly application. These patches provide a controlled release of pain-relieving medications directly through the skin into the bloodstream, offering a consistent and prolonged effect. The ease of use and non-invasive nature of transdermal patches make them particularly appealing for individuals seeking a discreet and hassle-free method of pain management.

Based on End Users, the transdermal patches market is segmented into Homecare Settings and Hospitals And Clinics. The Homecare Settings segment is estimated to grow at the highest CAGR during the forecast period. Home care settings eliminate the need for patients to travel to healthcare facilities, thus saving time and money. Owing to this convenience and better affordability, an increasing number of patients are opting for home-based treatments. Also, for patients requiring long-term therapy, inpatient care is not only extremely expensive but also prevents patients from resuming a normal lifestyle and work activities.

Geographically, North America is the largest regional market for transdermal patches market in 2022, followed by Europe. Due to a number of reasons that together account for a considerable portion of its market share, North America leads the largest section of the transdermal patch market. The region’s strong pharmaceutical regulatory framework, high incidence of chronic illnesses, and sophisticated healthcare infrastructure all contribute significantly to the transdermal patch’s extensive use. The need for these patches to treat chronic ailments including pain, hormone imbalances, and cardiovascular diseases has grown as a result of the aging population and greater awareness of non-invasive medication delivery techniques.

The prominent players in the global transdermal patches market are Nitto Denko Corporation (Japan),  Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Novartis AG (Switzerland), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Endo International plc. (Ireland), Alvogen Group Inc. (U.S.), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), Luye Pharma Group (China), AbbVie Inc. (U.S.), 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.), AdhexPharma (France), Evernow (U.S.), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.)