Global Transdermal Medical Patch Market Analysis By Segmentation, Market Dynamics, Size Trends, Growth & Forecast 2023-2032

 

Global Transdermal Medical Patch Market

Transdermal patches market is expected to gain market growth in the forecast period of 2023 to 2032. Data Bridge Market Research analyses the market to grow at a CAGR of 6.75% in the above-mentioned forecast period. Increasing prevalence of chronic diseases drives the transdermal patches market.

The transdermal medical patch market refers to the market for medical patches that deliver drugs or other therapeutic agents through the skin. These patches are an alternative to oral medication or injections, and they offer several advantages, such as ease of use, improved patient compliance, and controlled drug delivery.

The global transdermal medical patch market is expected to grow significantly in the coming years due to factors such as an increasing prevalence of chronic diseases, rising demand for non-invasive drug delivery systems, and technological advancements in transdermal patch design.
The market is segmented by type of patch, application, and geography. By type of patch, the market is divided into reservoir patch, matrix patch, and others. By application, the market is segmented into pain management, hormonal applications, nicotine cessation, neurological disorders, cardiovascular disorders, and others. Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

 

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Rising technological advancements in transdermal drug delivery systems is the vital factor escalating the market growth, also rising advantages over the oral and ingesting medications, increasing non-invasive and painless administration of medication, increasing adoption of various strategies such as product innovation, increasing product launches and approvals, rising research and development investment for advancements in transdermal patches, merger and acquisition as their developmental strategies to sustain the competitive environment, rising beneficial government initiatives and an increase in the number of research partnerships are the major factors among others driving the transdermal patches market.

 

COVID Impact
The transdermal medical patch market has been affected by the COVID-19 pandemic, both positively and negatively.
On the positive side, the demand for transdermal patches has increased due to the pandemic.

Transdermal patches can be used to deliver drugs or medication to patients without requiring them to leave their homes, reducing the risk of exposure to COVID-19. Additionally, transdermal patches are easy to use and provide continuous drug delivery, making them a convenient option for patients.

On the negative side, the pandemic has disrupted supply chains and manufacturing processes, causing delays and shortages in the production and distribution of transdermal patches. Furthermore, the pandemic has led to a decrease in elective surgeries and routine medical procedures, which has also impacted the demand for transdermal patches.

Overall, the impact of the COVID-19 pandemic on the transdermal medical patch market has been mixed, with increased demand for certain products but also disruptions in the supply chain and decreased demand for certain applications.

 

 

 

 

Market Segmentation:

The transdermal medical patch market can be segmented in several ways, including:
• By Application: This segment includes the different medical conditions or indications for which transdermal patches are used. Examples include pain management, hormonal therapy, smoking cessation, and cardiovascular disease.

• By Technology: This segment includes the different technologies used to create transdermal patches, such as reservoir patches, matrix patches, and micro-needle patches.

• By Type of Drug: This segment includes the different types of drugs that can be delivered through transdermal patches, such as opioids, nicotine, estrogen, and fentanyl.

• By Distribution Channel: This segment includes the different channels through which transdermal patches are distributed to end-users, such as hospital pharmacies, retail pharmacies, online pharmacies, and drug stores.

• By Geography: This segment includes the different regions and countries where transdermal patch products are marketed and sold, such as North America, Europe, Asia-Pacific, and Rest of the World.

 

Key Player:

Some of the key players in this market include:
1. Novartis AG
2. Johnson & Johnson
3. Teva Pharmaceuticals
4. Mylan NV
5. Luye Pharma Group Ltd.
6. 3M Company
7. Hisamitsu Pharmaceutical Co., Inc.
8. Purdue Pharma L.P.
9. GlaxoSmithKline plc
10. UCB S.A.

These companies offer a range of transdermal medical patches for various indications, including pain management, hormonal therapy, and nicotine replacement therapy. To maintain a competitive edge in the market, these companies focus on product innovation, strategic partnerships, and expansion into new markets.

For example, in 2020, Novartis AG launched its transdermal patch product, Aimovig, for the preventive treatment of migraine in adults. Similarly, Johnson & Johnson's subsidiary Janssen Pharmaceuticals, Inc. launched its transdermal patch product, Duragesic, for the management of chronic pain.

 

Regional Analysis:

The transdermal medical patch market is a global market with a significant presence in North America, Europe, Asia-Pacific, and the rest of the world.

North America has the largest share of the market, mainly due to the high prevalence of chronic diseases, such as diabetes and cardiovascular diseases, and the increasing demand for non-invasive drug delivery systems. The United States is the largest market for transdermal patches in North America.
Europe is the second-largest market for transdermal patches due to the increasing demand for transdermal patches for pain management and hormone replacement therapy. Germany, France, and the United Kingdom are the major contributors to the European transdermal patch market.

The Asia-Pacific region is expected to witness significant growth in the transdermal patch market due to the increasing prevalence of chronic diseases, a growing geriatric population, and increasing demand for non-invasive drug delivery systems. China, Japan, and India are the major contributors to the Asia-Pacific transdermal patch market.

The rest of the world market is also expected to grow, mainly due to the increasing prevalence of chronic diseases, growing awareness about transdermal patches, and increasing demand for non-invasive drug delivery systems.

 The Middle East & Africa and Latin America are the major contributors to the rest of the world transdermal patch market.

 

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