Transdermal Patches Market
The Transdermal Patches Market Report indicates that the market, valued at $6.2 billion in 2023, will grow to $8.0 billion by 2029 at a CAGR of 4.5%. The study encompasses industry trends, pricing, patents, and stakeholder analysis. Growth is driven by increasing use of analgesic patches and advancements in transdermal technology. However, issues such as medication failures and rising healthcare costs may impede market growth.
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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.)
Recent Developments of Transdermal Patches Industry:
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.
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https://www.marketsandmarkets.com/ResearchInsight/transdermal-patches-market.asp
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