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Transdermal Skin Patches Market Research 2024 - Outlook, Overview And Forecast To 2033
Transdermal Skin Patches Market
The Business Research Company offers in-depth market insights through Transdermal Skin Patches Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The transdermal skin patches market size has grown steadily in recent years. It will grow from $7.36 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to increasing incidence of cardiovascular diseases, strong economic growth in emerging markets, the increase in pharmaceutical r&d expenditure and increased healthcare expenditure.
The transdermal skin patches market size is expected to see steady growth in the next few years. It will grow to $9.02 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to the increase in smoking cessation, the rapid growth in the aging population, the increasing healthcare expenditure and the increase in cardiovascular diseases. Major trends in the forecast period include technological advancement in transdermal skin patches, advancements in diabetes transdermal patches, robust research and development activities, product innovation, collaborations and partnerships, wearable skin patches, advancements in microneedle patches for vaccination and new iontophoresis patches.
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Market Segmentation:
The transdermal skin patches market covered in this report is segmented -
1) By Product: Matrix, Drug In Adhesive, Reservoir, Vapor
2) By Type: Fentanyl Transdermal Patch, Nicotine Transdermal Patch, Estradiol Transdermal Patch, Clonidine Transdermal Patch, Testosterone Transdermal Patch, Other Types
3) By Distribution Channel: Pain Relief, Nicotine Cessation,Hormone Replacement Therapy, Neurological Disorders, Cardiovascular Disorders, Other Applications
Major Driver - Rising Prevalence Of Cardiovascular Disease Boosts Transdermal Skin Patches Market
The increasing prevalence of cardiovascular disease is expected to propel the growth of the transdermal skin patches market going forward. Cardiovascular diseases are ailments that have an impact on the heart and blood vessels. The development of fatty deposits inside the arteries (atherosclerosis) and a higher risk of blood clots are typically connected with it. Transdermal skin patches are used to prevent episodes of angina (chest pain) in people who have coronary artery disease (narrowing of the blood vessels that supply blood to the heart). These are also used to improve bioavailability for the treatment of heart failure. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based public health agency, about 695,000 people in the United States died from heart disease in 2021-that's 1 in every 5 deaths. Coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Therefore, the increasing prevalence of cardiovascular disease is driving the growth of the transdermal skin patches market.
Competitive Landscape:
Major companies operating in the transdermal skin patches market report are Novartis, Hisamitsu Pharmaceutical Co., Inc, Henan Lingrui Pharmaceutical, Teva Phamaceuticals, Luye Pharma Group Ltd, Purdue Pharma L.P., Nitto Denko Corporation, AdhexPharma, Noven Pharmaceuticals, Teikoku Pharma, Mylan Pharmaceuticals Inc, 3M Company, Acrux Ltd, Access Pharmaceuticals Inc, Rusan Pharma, Glenmark Pharmaceuticals, Cipla Ltd, Mundipharma, Dr Reddy's Laboratories, Chattem, Clarity Medical, Welcare Industries S.P. A, F.L. Medical S.r.l, Empire MEDICAL UK LTD, Europlaz Technologies Ltd, Zentiva, Alfa-Med LLC, Medplant LLC, Medical-Lomza Sp. z o.o., P.H.U. Medical, ProVeterináre, Panop CZ, Allergan Inc., Johnson & Johnson, Boehringer Ingelheim GmbH, Bayer AG, Bristol-Myers Squibb Company, GlaxoSmithKline plc, Echo Therapeutics Inc, Endo Pharmaceuticals Inc.
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Top Trend - Innovation Key For Competitive Edge In Transdermal Skin Patches Market
Major companies operating in the transdermal skin patches market are increasing their focus on introducing innovative products and getting them approved to gain a competitive edge in the market. Innovative products refer to offering new or improved solutions, such as drugs, medical devices, or other products, to existing problems or needs. For instance, in March 2022, Noven Pharmaceuticals Inc., a US-based pharmaceutical company, announced the U.S. Food and Drug Administration's (FDA), a US-based federal agency, approval of the XELSTRY (dextroamphetamine) transdermal system. It is the first and only approved amphetamine patch for the treatment of ADHD (Attention-Deficit or Hyperactivity Disorder). XELSTRYM should be used two hours before an effect is required, and it should be eliminated nine hours later. Depending on the clinical response and tolerability, the final dosage should be tailored.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transdermal Skin Patches Market Characteristics
3. Transdermal Skin Patches Market Trends And Strategies
4. Transdermal Skin Patches Market - Macro Economic Scenario
5. Transdermal Skin Patches Market Size And Growth
…..
27. Transdermal Skin Patches Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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