Global Transdermal Skin Patches Market - 2021-2028

Global Transdermal Skin Patches Market - 2021-2028

Market Overview

The global transdermal skin patches market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).

The transdermal patch is a type of transdermal technology. It's a medicated adhesive patch applied to the skin to give a specified medicine dose. These patches use a diffusion approach to deliver medicine doses through the skin, then released into the bloodstream over time.

Market Dynamics

Advancement in transdermal drug delivery techniques is expected to drive market growth.

Microneedles (MNs) have evolved into a new drug delivery technology, with applications spanning small chemical molecules, vaccines, genes, proteins and nanoparticles, among others. MNs, in particular, hold a lot of promise for transdermal delivery of proteins and peptides. MNs are minimally invasive devices with needles (less than one millimetre) placed neatly on the base. They can directly permeate the stratum corneum by creating reversible microchannels in the epidermis. These microchannels allow medications to reach the dermal microcirculation, which is located in the skin's inner layers. MNs do not contact blood vessels or nerves in the deep dermis; hence they have a better patient compliance and safety profile than injections. Moreover, the mild fabrication condition of MNs will not impact the biological activity of proteins and peptides. Thus, the market is expected to drive in the forecast period from the above statements.

Restraint:

Some of the drawbacks of transdermal medication delivery are potential skin sensitivity or irritation, adhesive pain, imperfect skin adherence, cost, and selectivity for specific physicochemical drug features are some of the factors due to which the market is expected to get hampered in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic had a positive impact on the market. The ongoing race to develop a safe and productive vaccine to prevent infection by SARS-CoV-2, the causative agent for COVID-19, highlights the importance of vaccination to combat infectious pathogens because the skin has a high density of antigen-presenting cells and immunological accessory cells with wide innate immune capabilities, the readily accessible cutaneous microenvironment is an ideal target for vaccination. For instance, Microarray patches (MAPs) are an appealing intracutaneous biocargo delivery technology that allows for the safe, repeatable, and regulated distribution of vaccination components (antigens, with or without adjuvants) to specific skin microenvironments. Thus, this is owing to boost the transdermal skin patches market in the forecast period.

Segment Analysis

Nicotine Cessation segment is expected to hold the largest market share in transdermal skin patches market

The nicotine cessation segment is expected to dominate in 2020. Cigarette smoking is not only the most frequent type of tobacco use, but it is also one of the main preventable risk factors for early mortality worldwide. According to the American Heart Association, cardiovascular disease accounts for about 800,000 U.S. deaths every year, making it the leading cause of death in the United States. Of those, nearly 20 percent are due to cigarette smoking. Moreover, according to the World Health Organization, in 2021, Over 80% of the world's 1.3 billion tobacco users will live in low- and middle-income nations. As a result, demand for transdermal skin patches (nicotine) is expected to rise during the forecast period, owing to the growing number of smokers worldwide.

Geographical Analysis

North America region holds the largest market share in the global transdermal skin patches market

In 2020, North America accounted for the highest revenue share. The rising number of smokers, well-established healthcare infrastructure, beneficial government initiatives, and increased product launches and research collaborations by market players are some factors that the market is expected to boost in the forecast period. For instance, Tobacco is the largest cause of preventable disease and death in Canada, according to the Canadian Lung Association 2021. An estimated 48,000 Canadians die each year as a result of smoking. Countless others are afflicted with chronic ailments. Despite public health education and prevention efforts, approximately 15% of Canadians continue to smoke, increasing drug availability.

Moreover, in 2019, close to 2.9 million children started using e-cigarettes, or more than 7,900 per day. This increased from more than 2.2 million in 2018 and close to 2.1 million in 2017. Additionally, In September 2021, ImQuest Biosciences launched an antiretroviral (ARV) transdermal delivery patch. Therefore, the North American region is expected to hold the largest market share in the forecast period from the above statements.

Competitive Landscape

Major key players in the transdermal skin patches market are Teva Pharmaceuticals USA Inc., Novartis AG, Teikoku Pharma USA, Inc., Mylan Pharmaceuticals Inc., 3M , Luye Pharma Group, Sparsha Pharma USA, ProSolus, Inc. , NITTO DENKO CORPORATION and Amarin Technologies.

Novartis AG:

Overview:

Novartis International AG is a Swiss multinational pharmaceutical company based in Basel, Switzerland. It is a publicly-traded Swiss holding company that operates through the Novartis Group. Novartis AG owns, directly or indirectly, all companies worldwide that operate as subsidiaries of the Novartis Group. Moreover, Novartis is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA), the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), and the Pharmaceutical Research and Manufacturers of America (PhRMA). It is one of the largest pharmaceutical companies in the world.

Product Portfolio:

Exelon Patch: Exelon Patch (rivastigmine transdermal system) is a reversible cholinesterase inhibitor used to treat mild to moderate dementia caused by Alzheimer's or Parkinson's disease.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Transdermal Skin Patches Market – By Type

Single-layer Drug-in-Adhesive

Multi-layer Drug-in-Adhesive

Vapour Patch

Matrix

Others

Global Transdermal Skin Patches Market – By Application

Pain Relief

Neurologic Conditions

Nicotine Cessation

Cardiovascular Conditions

Others

Global Transdermal Skin Patches Market – By Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

Global Transdermal Skin Patches Market - By Region

North America

South America

Europe

Asia

Middle East & Africa