Growing Adoption of Analgesic Patches Driving the Market
The global transdermal patches market is projected to reach USD 8 Billion by 2029 from USD 6.2 Billion in 2023, 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 advancements in transdermal patches, and the shift from traditional injections to transdermal patches. Nonetheless, during the anticipated period, factors such as drug failures, recalls of transdermal drug delivery systems, and increasing healthcare facility expenses will probably constrain market expansion to some degree.
The matrix patches segment is expected to grow with the highest CAGR in patch type of the transdermal patches market
Due to a number of characteristics that increase the patch's appeal and efficacy, the matrix patches segment is expected to grow at the highest CAGR in the transdermal patch market. In matrix patches, the medicine is evenly dispersed within a polymer matrix, providing a straightforward but effective design. This design promotes the best possible drug absorption via the skin by enabling a prolonged, regulated release of the medicinal substance. Due to its adaptability, matrix patches are widely used in a variety of therapeutic fields. This is because they may be used to administer a broad range of drugs. Patient compliance and matrix patch efficacy are increasing as a result of ongoing technological improvements in matrix patch formulation and manufacturing.
The silicone adhesives segment is expected to grow with the highest CAGR in the adhesive type of the transdermal patches market
Since silicone adhesives have particular advantages over other adhesives, it is expected that the silicone adhesive patches segment of the transdermal patch market will grow at the fastest CAGR. Silicone adhesives ensure patient comfort and adherence by forming a thin yet strong connection with the skin. Because they are biocompatible and hypoallergenic, they can be used by a wide range of patients with less chance of skin sensitivity or irritation. Silicone adhesive patches' conformability and flexibility make them more comfortable to wear and encourage prolonged and regular use.
Based on the Application Type, the pain management segment is expected to grow by the highest CAGR in the transdermal patches market
The market for transdermal patches is expected to grow at the fastest rate in the pain management segment due to the growing need for safe, non-invasive pain reduction options. Pain-relieving transdermal patches deliver an even and steady therapeutic impact by releasing analgesic drugs through the skin in a targeted and regulated manner. This method offers an alternative to invasive therapies and conventional oral drugs, making it especially tempting to people with chronic pain disorders.
Based on the Distribution Channel, The online Pharmacies segment is expected to grow with the highest CAGR in the transdermal patches market
As a distribution channel for transdermal patches, the online pharmacies segment is anticipated to grow at the fastest rate in the market. This is due to the general trend of digitalization and the growing dependence of healthcare items on e-commerce platforms. Customers can get transdermal patches easily and conveniently from the comfort of their homes with the help of online pharmacies. The increasing popularity of e-commerce, together with its convenient ordering and doorstep delivery features, corresponds with the changing needs of patients who want hassle-free access to healthcare.
Based on the End User, The Homecare Settings segment is expected to grow with the highest CAGR in the transdermal patches market
Given the growing trend towards patient-centered and personalized healthcare, the transdermal patch market's homecare settings sector is expected to grow at the fastest rate as an end-user. For self-administration in domestic settings, transdermal patches are especially well-suited since they offer a convenient and non-invasive way to administer medication. The need for accessible, long-term treatment alternatives is fueled by the aging population and the rise of chronic illnesses. Transdermal patches are a perfect fit with this new paradigm in healthcare since homecare settings provide people the freedom to take care of their healthcare needs on their own.
Asia-Pacific to grow with the highest CAGR in the transdermal patches market during the forecast period
The transdermal patch market in Asia-Pacific is expected to grow at the highest CAGR due to an array of factors that highlight the region's changing healthcare landscape. Transdermal patches are becoming more and more popular due to the rising incidence of chronic illnesses and rising knowledge of non-invasive medication delivery techniques. The huge and aging population in the area is a major factor in the rising cost of healthcare, which in turn is driving up demand for accessible and patient-friendly treatment choices. The transdermal patch market in Asia-Pacific is also expected to rise as a result of breakthroughs in pharmaceutical research and development, rising disposable incomes, and improved healthcare infrastructure.
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%, and Middle East & Africa - 5%
The prominent players in the transdermal patches market include Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Cipla Inc. (India), Teva Pharmaceutical Industries Ltd. (Israel), Agile Therapeutics (U.S.), Bayer AG (Germany), Luye Pharma Group (China), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), AdhexPharma (France), Evernow (U.S.), Amneal Pharmaceuticals LLC. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Alvogen Group Inc. (U.S.), Novartis AG (Switzerland), AbbVie Inc. (U.S.), Nitto Denko Corporation (Japan), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Endo International plc. (Ireland), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.).
Research Coverage
The market study covers the transdermal patches market across various segments. It aims to estimate the market size and the growth potential of this market across different segments by patch type, adhesive type, application, distribution type, end-user, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Reasons to Buy 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.
Table of Contents
Executive Summary
Companies Mentioned
- Abbvie Inc.
- Adhexpharma
- Agile Therapeutics
- Alvogen Group Inc.
- Amneal Pharmaceuticals LLC
- Bayer AG
- Boehringer Ingelheim International GmbH
- Cipla Inc.
- DuPont de Nemours, Inc.
- Elkem ASA
- Endo International PLC
- Evernow
- Hikma Pharmaceuticals PLC
- Hisamitsu Pharmaceutical Co. Inc.
- Iontopatch
- Johnson & Johnson
- Katecho, LLC
- Lead Chemical Co. Ltd.
- Luye Pharma Group
- Medherant Limited
- Mundipharma International
- Nitto Denko Corporation
- Novartis AG
- Polymer Science, Inc.
- Purdue Pharma L.P.
- Sparsha Pharma International Pvt. Ltd.
- Teva Pharmaceutical Industries Ltd.
- UCB SA
- Viatris Inc.
- Wacker Chemie AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 282 |
| Published | November 2023 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value ( USD | $ 6.2 Billion |
| Forecasted Market Value ( USD | $ 8 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
