Global Transdermal Patches Market is expected to reach USD 7383.47 Billion by 2026 from USD 4445.18 Billion in 2017 at a CAGR of 5.8%. The upcoming market report contains data for historic year 2017, base year for this study is 2018 and the forecast period is 2019–2026. The rising number of diabetic patients across the globe is likely to increase the consumption of transdermal drug delivery patch.
Market Definition: Global Transdermal Patches Market
Transdermal patches are adhesive patches that are medicated. They help to deliver a preset dose of medication inside the body by using the transdermal technology and diffusion technique. The medication later gets into the blood stream over a period of time. These patches are used for various diseases including migranes, diabetes, Alzheimer’s, cardiac and hormonal disorders among others.
According to WHO, in the year 2017, the number of people suffering from diabetes globally was about 422 million.
Key Market Competitors: Global Transdermal Patches Market
Few of the major competitors currently working in the Transdermal Patches Market are
- ProSolus Inc.
- Tesa Labtec GmbH
- Nitto Denko Corporation
- Noven Pharmaceuticals Inc.
- (Wholly-owned subsidiary of Hisamitsu Pharmaceutical Co. Inc.)
- LTS Lohmann
- Therapie-Systeme AG
- Medherant Limited
- Corium International Inc.
- Bayer AG
- ANI Pharmaceuticals Inc.
- Novartis AG
- Janssen Pharmaceuticals Inc.
- Antares Pharma Inc.
- Aneva Drug Delivery Systems
- Abbott Laboratories
- Medipatch Inc.
- Mylan Pharmaceutical Inc.
- Acrux Limited among others.
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- Increasing advantages over the oral and ingesting medications is expected to drive the market growth
- Non-Invasive and painless administration of medication is also expected to drive the market growth
- Inability of the skin to absorb large range of medications is expected to restrain the market growth
- Development of contact dermatitis or other skin infections at the site of application is also expected to restrain the market growth
Segmentation: Global Transdermal Patches Market
- By Application
- Pain Management
- By Technology
- Electric current
- Mechanical arrays
- Thermal Ablation
- Chemical Enhancers
- North America
- South America
- Middle East and Africa
Key Developments in the Market:
- In December 2018, Hisamitsu Pharmaceutical Co., Inc. (Japan) announced that the transdermal, pain management patch FENTOSTAPE achieved the primary endpoint of the Phase III clinical study in Japan.
- In July 2018, Mylan N.V. (U.S.) launched generic version of Novartis’ Exelon Patch known as Rivastigmine Transdermal System for the treatment of patients suffering from dementia in the US.
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Competitive Analysis: Global Transdermal Patches Market
Global transdermal patches market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of transdermal patches market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Points mentioned in the report:
- What was the market size in 2017?
- What are the moves of key players?
- Which region is leading the market at global level?
- A comprehensive/competitive analysis of the market?
- What the drivers and restrains are for the Global Transdermal Patches Market?
- How will the market stand in the forecast period of 2019-2026 ?
- Detailed overview of parent market
- Changing market dynamics of the industry
- Strategies of key players and product offerings
- In-depth market segmentation
- Product Development/Innovation: Detailed insights on the product approvals, R&D activities, and product launches in the Global Transdermal Patches Market.
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