Transdermal Skin Patch Market Growth 2022-2028: Increasing Benefits Of Transdermal Medicine Over Oral And Swallowing Drugs That Cause Nausea And Vomiting

The global transdermal skin patch market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing the drug\'s benefits over oral and ingestible drugs, as well as its simplicity of administration and duration of action. The market is increasing as financing and spending for medication research and new releases increase.

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Transdermal skin patches enable patients to self-administer medications in a convenient and pain-free manner, resulting in patient comfort and alleviation, particularly in chronic conditions requiring long-term therapy, which will drive the worldwide Transdermal Skin Patches Market in the projected future. Depending on the therapeutic intent, transdermal skin patches can be worn for as little as eight hours or as long as seven days. In the projected term, this innovation in patches will boost the worldwide market. The difficulty of the skin to absorb a wide range of drugs, as well as the occurrence of contact dermatitis in a small number of cases, may limit market for transdermal patches throughout the forecasted time period. Although these factors contribute towards market\'s growth, issues such as non-permeability of skin among patients\' ability to absorb a variety of medications, as well as development of contact dermatitis at the location of transdermal patch administration, might restrict market\'s growth.

Market Overview:

The global Transdermal Skin Patch market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending, and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers, and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Transdermal Skin Patch market is significantly driven by factors such as the increasing prevalence of chronic diseases, rapid advancements in the healthcare and medical sector, high adoption of the latest tools and techniques, and growing funds by several public and private sectors. In addition, the rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period. 

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as a shortage of medicines, vaccines, and healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

  • Mylan Pharmaceuticals Inc
  • Hisamitsu Pharmaceutical
  • Novartis
  • Johnson & Johnson
  • Teikoku Pharma
  • Actavis
  • Mundipharma
  • Henan Lingrui Pharmaceutical
  • Changzhou Siyao
  • RFL Pharmaceutical
  • Teva
  • ProSolus, Inc.
  • Medipatch, Inc.
  • AdhexPharma
  • Medherant Limited
  • Nitto Denko
  • Noven Pharmaceuticals
  • 3M Pharmaceuticals
  • Accrux Ltd.

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Transdermal Skin Patch Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Single-layer Drug-in-Adhesive
  • Multi-layer Drug-in-Adhesive
  • Matrix
  • Others

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Pain Relief
  • Smoking Reduction and Cessation Aid
  • Overactive Bladder
  • Hormonal Therapy
  • Others

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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