The global transdermal skin patches market was valued at USD 7,695.0 Mn in 2021 and is forecast to reach a value of USD 10,839.7 Mn by 2028 at a CAGR of 5.0% between 2022 and 2028.
A transdermal patch, sometimes called a skin patch, is an adhesive patch that contains medication and is applied to the skin to deliver dosages of medication to the bloodstream on a regular basis. The patch offers an alternate delivery mechanism that is non-invasive and allows for consistent medication absorption over an extended period of time. Transdermal patches deliver a precise, pre-set amount of medicine that is absorbed into the circulation through the skin. It provides a steady therapeutic dose over a set length of time while also being a painless way of medication delivery. In order to distribute cosmetics, topicals, and transdermal medications, transdermal skin patches are increasingly often employed.
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Market Drivers
The worldwide transdermal skin patches market is anticipated to increase during the projected period as a result of rising transdermal skin patch usage due to the numerous benefits of transdermal medicine over oral and ingesting drugs. For instance, Corium reported in March 2022 that Adlarity, a treatment for people with mild, moderate, or severe dementia linked with Alzheimer’s disease, has received FDA approval. With the approval of Adlarity, the most often prescribed medication for people with Alzheimer’s disease may now be administered in a novel and consistent manner in a well-tolerated form.
Market Opportunities
For the participant in the transdermal skin patches market, the increased focus on the creation of innovative transdermal skin patches is anticipated to present considerable potential prospects. For instance, BASF introduced a new skincare active ingredient that supports mental wellbeing in April 2021. By utilising its ground-breaking Sacred Patch, BASF will assist companies in creating efficient skin care products that support mental well-being while addressing typical symptoms of sensitive skin. Outstanding miniaturisation outcomes are shown by Sacred Patch, which also soothes sensitive skin and encourages the production of the feel-good hormone oxytocin.
Market Restraints
A few significant factors that are anticipated to restrain the expansion of the worldwide transdermal skin patch market include product recalls and the skin’s limited capacity to absorb a variety of active ingredients. Only drugs whose molecules are tiny enough to permeate the skin may be given using this technique since the skin functions as a very effective barrier.
Additionally, transdermal patch recalls and medication failure are anticipated to impede market expansion. For instance, Alvogen, Inc. voluntarily recalled two lots of the 12 mcg/h transdermal patches used in the Fentanyl Transdermal System.
Impact COVID-19
The transdermal skin patch business has benefited from the COVID-19 epidemic. Transdermal skin patches make it possible to administer medications in a regulated, repeatable manner to a specific skin microenvironment. As a result, scientists are concentrating on investigating the use of fingertip-sized skin patches for a potential COVID-19 vaccine delivery system. Investigations of transdermal delivery systems for vaccines like COVID-19 have been conducted. For instance, a group of scientists from the University of Pittsburgh School of Medicine created a vaccination that can be applied to the skin using a patch that resembles a Band-Aid and contains 400 small needles. This should help the market flourish as a result.
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Key Takeaways
The market for transdermal skin patches was estimated at US$ 7,695.0 million in 2021, and it is expected that it will expand at a CAGR of 5.0% from 2022 to 2028 attending US$ 10,839.7 million.
The worldwide transdermal skin patch market was dominated by the pain relief application segment in 2021, accounting for 42.3% of the market’s value share. Increasing product approval and launches are anticipated to fuel the segment’s expansion throughout the course of the forecast period.
Market Trends
The global market for transdermal skin patches is anticipated to develop as a result of the release of generic versions of these patches. Amneal Pharmaceuticals, Inc. announced the release of its generic Exelon Patch in three different doses: 4.6 mg/24 hours, 9.5 mg/24 hours, and 13.3 mg/24 hours in March 2019. In January 2019, Amneal got FDA clearance for their Rivastigmine Transdermal System.
The global market for transdermal skin patches is anticipated to develop as a result of rising demand for these patches. For instance, Medherant, a company that creates transdermal medicine delivery devices, was awarded a Medicines Manufacturing Grant by Innovate UK in October 2018. With the help of the funding, the business will be able to purchase machinery and carry out its plans to expand the pilot-scale production of patches created using its proprietary TEPI Patch technology.
Competitive Landscape
Teikoku Pharma USA Inc., Henan Lingrui Pharmaceutical Ltd., Samyang Biopharmaceuticals Corp., Teva Pharmaceutical Industries Ltd., Novartis, Purdue Pharma Manufacturing LP, Mylan, Luye Pharma Group, and 3M Company are significant market participants in the transdermal skin patch industry.
Recent Developments
The National Medical Medicines Administration in China has authorised Rivastigmine Transdermal Patch, one of Luye Pharma Group’s important central nervous system (CNS) products, the company stated in June 2020.
The transdermal patches Bisono Tape (bisoprolol), which were co-developed with Toa Eiyo Ltd. and Nitto Denko Corporation, were introduced by Toa Eiyo and Astellas Pharma Inc. in June 2019, according to the company’s announcement.
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Table of Content
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Transdermal Skin Patches, By Type
- Market Transdermal Skin Patches, By Application
- Market Transdermal Skin Patches, By Geography
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Growing adoption of transdermal skin patches
- Drug failure and recalls of transdermal patches
- Increasing prevalence of chronic diseases
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Transdermal Skin Patches Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Transdermal Skin Patches Market, By Type, 2022–2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2030
- Segment Trends
- Single-layer Drug-in-Adhesive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Multi-layer Drug-in-Adhesive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Matrix
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Other Types
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Introduction
- Transdermal Skin Patches Market, By Application, 2022–2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2030
- Segment Trends
- Pain Relief
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Smoking Reduction and Cessation Aid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Overactive Bladder
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Hormonal Therapy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Other Applications
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
- Introduction
- Transdermal Skin Patches Market, By Geography, 2022–2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2030
- Segment Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Middle East and Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Rest of World
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
- Introduction
- Competitive Landscape
- Henan Lingrui Pharmaceutical Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Purdue Pharma Manufacturing LP
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Luye Pharma Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- 3M Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Mylan (Viatris)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Novartis
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Teva Pharmaceutical Industries Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Samyang Biopharmaceuticals Corp. (Samyang Holdings)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Teikoku Pharma USA Inc. (Teikoku Seiyaku Co. Ltd)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Analyst Views
- Henan Lingrui Pharmaceutical Ltd.
- Section
- Research Methodology
- About us
About Coherent Market Insights
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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