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(Medical-NewsWire.com, June 10, 2024 ) The report "Transdermal Patches Market by Type (Drug-in-adhesives, Matrix, Reservoir Membrane), Adhesive (Acrylic, Silicone, Hydrogel), Application (Pain, CVS, Hormonal), Distribution Channel (Pharmacy (Retail Online, Hospital)), End User - Global Forecast to 2029", is projected to reach 8.0 USD billion by 2029 from USD 6.2 billion in 2023, at a CAGR of 4.5% from 2023 to 2029. The factors driving the growth of the global transdermal patches market include the rising prevalence of chronic diseases, the expanding use of analgesic patches, technological developments in transdermal patches, and the shift from traditional injections to transdermal patches. However, during the expected duration, factors such as medication failures, recalls of transdermal drug delivery systems, and escalating healthcare facility expenses are anticipated to limit the market's expansion to a certain degree.
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The transdermal patches market is further segmented based on the patch type, adhesive type, application, distribution channel, end-user, and region.
The Drug-In-Adhesives segment is expected to account for the largest share, by patch type in the transdermal patches market.
In 2022, Due to its widely accepted nature and intrinsic benefits, the drug-in-adhesive patch type holds the biggest market share in the transdermal patch industry. With this kind of patch, the therapeutic agent is combined directly with the adhesive layer, guaranteeing a steady and regulated release of medication via the skin. Since there are no more layers or components required, the design's simplicity improves patient compliance. Drug-in-adhesive patches are particularly intriguing to people looking for non-invasive and user-friendly treatments since they provide a discreet and convenient way to deliver drugs.
The acrylic adhesives segment is expected to account for the largest share On the basis of adhesive type in the transdermal patches market.
The transdermal patches market is divided into Acrylic Adhesives, Silicone Adhesives, Hydrogel Adhesives and Other Adhesives based on adhesive type. The transdermal patch market is dominated by the acrylic adhesive patch type because of its remarkable performance and adaptability. Acrylic adhesives ensure that the patch is securely attached to the skin for the necessary length of time for medication administration by providing a strong yet soft connection. This kind of adhesive is well-known for being dependable and long-lasting, making it ideal for transdermal medication administration applications. When formulators are looking to create patches for different therapeutic locations, acrylic adhesives are a desirable option since they work well with a wide range of drugs.
Based on application, the pain management segment is expected to grow at the highest CAGR during the forecast period.
The pharmaceutical packaging equipment market is divided into Pain Management, Smoking Cessation, Hormone Replacement Therapy, Cardiovascular Disorder, Central Nervous System Disorder and Others based on the application. During the projection period, The transdermal patch market is dominated by the pain management patch because of its effectiveness, user-friendliness, and ease of use. With the use of these patches, painkillers can be released under control and for an extended period of time via the skin and bloodstream. Transdermal patches are especially tempting to people looking for a discrete and hassle-free way to control their pain because of their ease of application and non-invasive nature. Furthermore, transdermal patches have the potential to enhance patient compliance and lower the possibility of gastrointestinal adverse effects as compared to oral drugs.
Based on End Users, the homecare settings segment is expected to grow at the highest CAGR during the forecast period.
With the highest CAGR in the transdermal patch market, homecare settings have become the largest category. This is mostly because patient-centric approaches are becoming more and more important, and healthcare preferences are changing. Transdermal patches are an easy-to-use and practical way to provide medication, which makes them ideal for self-administration in the comfort of one's own home. The need for transdermal patches in homecare settings has been fueled by their ease of use and the increasing trend of patients actively controlling their own health.
Based on Distribution Channel, the Hospital Pharmacies segment is expected to hold the largest share of the transdermal patches market.
As a distribution channel for transdermal patches, hospitals have carved out the greatest market share thanks to a number of important features that complement the dynamics of healthcare delivery. Transdermal patches are among the many medical treatments that hospitals handle and supply; these facilities act as the main foci for patient care. Hospital pharmacies provide a regulated and controlled environment that guarantees the correct handling and storage of these prescription drugs.
North America to dominate the transdermal patches market during the forecast period.
With a share in 2022, North America will be the largest regional market for transdermal patches market. The transdermal patch market is dominated by North America in the largest sector for a number of reasons, including a substantial market share. Transdermal patches are widely used in the region due in large part to its sophisticated healthcare infrastructure, high rate of chronic illnesses, and stable pharmaceutical regulations. The need for these patches in the treatment of chronic ailments like pain, hormone imbalances, and cardiovascular diseases has increased due to the aging population and greater awareness of non-invasive drug delivery techniques.
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The prominent players in the global transdermal patches market are Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Novartis AG (Switzerland), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Endo International plc. (Ireland), Luye Pharma Group (China), AbbVie Inc. (U.S.), Nitto Denko Corporation (Japan), Cipla Inc. (India), Teva Pharmaceutical Industries Ltd. (Israel), Agile Therapeutics (U.S.), Bayer AG (Germany), Amneal Pharmaceuticals LLC. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Alvogen Group Inc. (U.S.), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), AdhexPharma (France), Evernow (U.S.), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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