According to the latest report published by Acute Market Reports “Transdermal Skin Patches Market – (Product Type – Drug in Adhesive, Matrix, Reservoir, Vapor); (Application – Pain Relief, Nicotine Cessation, Hormone Replacement Therapy, Motion Sickness, Neurological Disorders, Cardiovascular Disorders, and Others): Market Growth, Future Prospects, and Competitive Analysis, 2023-2030,” the market is expected to expand at a CAGR of 4.2% from 2023 to 2030.
Browse the full report Transdermal Skin Patches Market at https://www.acutemarketreports.com/report/transdermal-skin-patches-market
Market Insights
Transdermal drug delivery has been an attractive and challenging area of research. Advances in modern technologies are resulting in a larger number of drugs being delivered transdermally including conventional hydrophobic small molecule drugs, hydrophilic drugs and macromolecules. Transdermal delivery provides convenient and pain-free self-administration of drugs as leading to patient compliance especially in the chronic condition where long term treatment is necessary. Patches are presently being marketed which can be worn anywhere from as little as eight hours to as long as seven days, depending on their therapeutic indication. Based on the type of product type, the transdermal skin patches market is categorized into matrix, drug in adhesive, reservoir and vapor. The matrix segment held the largest share in the overall transdermal skin patches market due to product modification in terms of controlled release setting. Moreover, non-toxic and non-antagonistic characteristics of polymer matrix options, which are known to diffuse drug with controlled precision would further drive the market in the future. On the basis of application the transdermal skin patches are segmented into pain relief, nicotine cessation, hormone replacement therapy, motion sickness, neurological disorders, cardiovascular disorders, and others. Transdermal patches for pain relief is the major contributing market as they are preferred over hypodermic injections, which are more painful, generate medical waste, and pose a risk of disease transmission. Improved patient compliance as the treatment is non-invasive, simple, and convenient, and there is greater flexibility in termination of drugs by the removal of patches.
Geographically, North America dominated the global medical foods market which was followed by Europe. The key market drivers assisting in the growth of North America transdermal skin patches comprises rise in research and development in non-invasive methods of treatment for chronic conditions such as pain relief, motion sickness and other lifestyle related disorders. Moreover, the developed countries like U.S. U.K and others in North America and Europe, the adoption rate of the non-invasive and novel treatment is more than the developing nations. However, Asia Pacific has emerged as the fastest growing region in the transdermal skin patches market due to rising demand for better treatment at affordable cost in the region. Furthermore, innovation and government funding in the development of cutting-edge technology and healthcare infrastructure would augment the growth of Asia Pacific transdermal skin patches market.
Market Competition Assessment:
The transdermal skin patches market currently have comprises number of companies marketing their products in the market. The major companies in the he major players in the transdermal skin patches market include Teva Pharmaceutical Industries Ltd., Mylan Pharmaceuticals Inc, 3M Company, Accrux Ltd., Access Pharmaceuticals Inc., and others.
