The primary factors driving the transdermal skin patches market expansion are the rising benefits of transdermal medicine over oral and swallowing drugs (medications for gastrointestinal toxicity) that cause nausea and vomiting. They are less inconvenient than intravenous or parenteral therapies since they are non-invasive. The key benefit is that the patch allows for regulated drug release to the patient, usually accomplished by a perforated membrane covering the drug reservoir or by body warmth dissolving small layers of medication in the adhesive.
COVID-19 Outbreak Boosted the Transdermal Patch Market Size:
The COVID-19 outbreak has likely had a beneficial effect on the market for transdermal skin patches. These patches make it possible to administer medications to a specific skin microenvironment safely, repeatable, and regulated manner. As a result, researchers working on a potential COVID-19 vaccination were looking into using a fingertip-sized skin patch to deliver the vaccine. According to the publisher, Global Transdermal Skin Patches Market Is Foreseen to Register a CAGR of 3.52% during 2021-2027.
Worldwide Transdermal Skin Patches Market Size was US$ 7.8 Billion in 2021
The transdermal skin patches market is split by Type and Application in the analysis. Furthermore, the growth of these segments assists in the study of the industries' meagre growth. It provides a vital market overview and industry insights to aid in strategic decision-making to identify core market applications.
By Types, the Transdermal Skin Patches Market is divided into three types: Single Layer Drug Adhesive, Multi-Layer Drug Adhesive, and Matrix.
By Application, the Transdermal Skin Patches Market is divided into four categories: Pain Management, Hormonal Application, Central Nervous System Disorder, and Cardiovascular Diseases.
Transdermal Skin Patches Market Regional Level Analysis:
North America, Asia Pacific, Europe, and Rest of World are the critical regions in the transdermal skin patches market study. According to the research, North America dominates the transdermal patches market due to the increasing presence of key players and established healthcare infrastructure, increasing beneficial government initiatives, increasing the number of research partnerships, increasing the adoption of various strategies such as product innovation, and increasing product launches and approval in this region.
Competitive Landscape:
The market for transdermal skin patches is competitive. Leading companies focus on product innovations, product launches and approvals, R&D investment for advancements in transdermal patches, and mergers and acquisitions as developmental strategies to stay competitive in the industry. Teva Pharmaceutical Industries Ltd, Novartis AG, Mylan NV (Viatris), Luye Pharma Group, Bayer HealthCare Pharmaceuticals, Allergan, 3M Health Care Business Group, and Henan Lingrui Pharmaceutical Ltd are some of the key players in the market.
The publisher's latest report Transdermal Skin Patches Market, Global Forecast By Type (Single Layer Drug Adhesive, Multi-Layer Drug Adhesive, and Matrix), Application (Pain Management, Hormonal Application, Central Nervous System Disorder, and Cardiovascular Diseases), Region (North America, Asia Pacific, Europe, and ROW), Companies (Teva Pharmaceutical Industries Ltd, Novartis AG, Mylan NV (Viatris), Luye Pharma Group, Bayer HealthCare Pharmaceuticals, Allergan, 3M Health Care Business Group, and Henan Lingrui Pharmaceutical Ltd)” provides a detailed analysis of Transdermal Skin Patches Industry.
Type - Market has been covered from 4 viewpoints:
1. Single Layer Drug Adhesive
2. Multi-Layer Drug Adhesive
3. Matrix
4. Others
Application - Market has been covered from 5 viewpoints:
1. Pain Management
2. Hormonal Application
3. Central Nervous System Disorder
4. Cardiovascular Diseases
5. Others
Regions - Market has been covered from 4 viewpoints:
1. North America
2. Asia Pacific
3. Europe
4. Rest of World
Company Insights:
- Company Profile
- Recent Developments
- Revenue
Companies Covered:
1. Teva Pharmaceutical Industries Ltd
2. Novartis AG
3. Mylan NV (Viatris)
4. Luye Pharma Group
5. Bayer HealthCare Pharmaceuticals
6. Allergan
7. 3M Health Care Business Group
8. Henan lingrui pharmaceutical ltd
What is the estimated value of the Global Transdermal Skin Patches Market?
What is the growth rate of the Global Transdermal Skin Patches Market?
What is the forecasted size of the Global Transdermal Skin Patches Market?
Who are the key companies in the Global Transdermal Skin Patches Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 7.8 Billion |
| Forecasted Market Value ( USD | $ 9.6 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
Table of Contents
Companies Mentioned
- Teva Pharmaceutical Industries Ltd
- Novartis AG
- Mylan NV (Viatris)
- Luye Pharma Group
- Bayer HealthCare Pharmaceuticals
- Allergan
- 3M Health Care Business Group
- Henan lingrui pharmaceutical ltd
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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