Healthcare

Transdermal Skin Patches Market Insights, Advantages, Clinical Trials, Key Players, Manufacturers, Effects And Forecast 2023-2032|Mylan Pharmaceuticals Inc., Hisamitsu Pharmaceutical, Novartis, Johnson & Johnson, Teikoku Pharma

The Transdermal Skin Patches Global Market Report 2023 by The Business Research Company, provides transdermal skin patches market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Transdermal Skin Patches Global Market Report 2023, the market size is expected to grow from$7.1 billion in 2022 to $7.42 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global transdermal skin patches is expected to grow from $8.43 billion in 2027 at a CAGR of 3.2%.

The advances in modern technologies contribute to the growth of the transdermal skin patches market. Advances in modern technologies increase the number of drugs being delivered transdermally including small molecule hydrophobic drugs, hydrophilic drugs, and macromolecules. The new technological advances add to the increased efficiency and increased use of transdermal drug delivery systems (TDDS) thus, increasing the popularity and demand for TDDS

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The transdermal skin patches market is segmented:

1) By Product: Matrix, Drug In Adhesive, Reservoir, Vapor

2) By Type: Fentanyl Transdermal Patch, Nicotine Transdermal Patch, Buprenorphine Transdermal Patch, Clonidine Transdermal Patch, Oxybutynin Transdermal Patch, Other Types

3) By Application: Pain Relief, Nicotine Cessation, Hormone Replacement Therapy, Neurological Disorders, Cardiovascular Disorders, Other Applications

Major companies in the market are increasingly opting for acquisitions and collaborations to enhance and expand their footprint for the growth of the transdermal skin patches market. The strategic merger and acquisition and collaboration followed by the players in the transdermal skin patches market allow the companies to take technological advantage by acquiring the technology which allows them to get ahead in the competition. For instance, in December 2021, Boyd Corporation, a US-based provider of advanced sealing, thermal management and protection solutions, acquired MBK Tape Solutions for an undisclosed amount. The acquisition enhances Boyd’s medical material science expertise in applications including biosensors, transdermal patches, and improved wound care. MBK Tape Solutions is a US-based manufacturer of medical-grade adhesives designed for medical devices, direct wound sealing, or transdermal patches.

The transdermal skin patches market report table of contents includes: