Summary –
A new market study, “Global Transdermal Skin Patches Market - Global Demand, Sales, Consumption and Forecasts to 2020-2025” has been featured on WiseGuyReports.
The transdermal skin patches market consists of sales of transdermal skin patches products and related services used to provide medicine to the human body through patches. Transdermal skin patches involve the use of adhesive patches made up of polymers that contains drugs. The drug from these patches are absorbed into the body and eventually into the blood stream eliminating the drug delivery through pill, or injections.
The global transdermal skin patches market was worth $6.23 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 4.50% and reach $0 billion by 2023.
The transdermal skin patches market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in 2019. Asia pacific was the fastest region in 2019.
The transdermal skin patches covered in this report is segmented by product into matrix; drug in adhesive; reservoir; vapor. It is also segmented by type into fentanyl transdermal patch; nicotine transdermal patch; buprenorphine transdermal patch; clonidine transdermal patch; oxybutynin transdermal patch; others and by application into pain relief; nicotine cessation; hormone replacement therapy; neurological disorders; cardiovascular disorders; others.
The advances in the modern technologies contributes to the growth of 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. For instance, in 2019, few technological advances in the TDDS included transdermal patch formulation improvements, introduction of pressure-sensitive adhesives and permeation enhancers, which lead to increased product diffusion and increased drug retention ability in larger quantities. The advances in technologies are expected to increase the demand for transdermal patches owing to its benefits thereby driving the growth of the market.
Stringent regulatory approval by the government regulatory bodies is a key factor hindering the growth of the transdermal skin patches market. The regulatory authority enforces the laws regulating biologics, medications, and medical devices, which can have potential side effects for customers. For instance, Food and Drug Administration (FDA) mandates the TDDS to undergo series of tests including biomechanical testing, animal testing, and clinical trials before approving the TDDS for use in the market. The whole process consumes time and may result in delay for the launch of TDDS into the market losing the first-mover advantage thus restraining the growth of the transdermal skin patch market.
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 allows the companies to take technological advantage by acquiring the technology which allows them to get ahead in the competition. For instance, in 2019, Canoa Inc., a Delaware based healthcare and pharmaceuticals company, acquired ProSolus® Inc. to enhance its position and development of new products in transdermal space. ProSolus headquartered in the USA is a pharmaceutical company that provides transdermal solutions. Similarly, in 2019, Mylan, a pharmaceutical company providing transdermal skin patches, with Upjohn, a subsidiary of Pfizer announced the formation of a new company named Viatris. The aim of the new collaboration is to provide more innovative medicines to the patients globally. Pfizer is a multinational pharmaceutical company. Thus, companies operating in the transdermal skin patch market are following the strategic collaborations and acquisitions to have a competitive edge.
In 2018, Nutriband Inc., a USA based pharmaceutical and health care-based provider that focuses on transdermal and Topical technologies acquired 4P Therapeutics Inc for an undisclosed amount. Through the acquisition, Nutriband aimed to expand its product portfolio to include the transdermal technologies, prescription drugs and clinical development. 4P Therapeutics Inc is a U.S.A based biotechnology health-care research and development company that focuses on novel methods for drugs delivery.
Major players in the market are Mylan Pharmaceuticals Inc, Hisamitsu Pharmaceutical, Novartis, Johnson & Johnson, Teikoku Pharma, Mylan, Actavis, Mundipharma, Henan Lingrui Pharmaceutical and Changzhou Siyao.
Transdermal Skin Patches Market Global Report 2020-30 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global transdermal skin patches market.
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Description:
Where is the largest and fastest growing market for the transdermal skin patches? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Transdermal Skin Patches market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider transdermal skin patches market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
- The transdermal skin patches market section of the report gives context. It compares the transdermal skin patches market with other segments of the transdermal skin patches market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, transdermal skin patches indicators comparison.
Scope
Markets Covered: 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; Others; 3) By Application: Pain Relief; Nicotine Cessation; Hormone Replacement Therapy; Neurological Disorders; Cardiovascular Disorders; Others
Companies Mentioned: Mylan Pharmaceuticals Inc; Hisamitsu Pharmaceutical; Novartis; Johnson & Johnson; Teikoku Pharma
Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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