The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s transdermal skin patches market report forecasts the transdermal skin patches market size to grow to $8.43 Billion by 2027, with a CAGR (compound annual growth rate) of more than 3%.

Learn More On The Transdermal Skin Patches Market Report 2023 – https://www.thebusinessresearchcompany.com/report/transdermal-skin-patche-global-market-report

Transdermal Skin Patches Market Size Forecast
The global transdermal skin patches market is expected to grow from $7.1 billion in 2022 to $7.42 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transdermal skin patches market is expected to grow from $8.43 billion in 2027 at a CAGR of 3.2%.

North America held the largest transdermal skin patches market share, and Middle East was the fastest-growing region in 2022.

Key Transdermal Skin Patches Market Driver ­– Advances In Modern Technologies
For instance, in September 2022, Corium, a US-based biopharmaceutical company, launched Adlarity, a transdermal patch for treating Alzheimer’s. It is a donepezil transdermal system that distributes donepezil at regular intervals through the skin. It treats people with Alzheimer’s-related dementia that is mild, moderate, or severe. Adlarity makes use of the unique Corplex technology from Corium. Over a predetermined period of time, Corplex provides continuous, controlled, and sustained medication release.

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Key Transdermal Skin Patches Market Trend – Opting For Acquisitions And Collaboration
Major companies in the market are increasingly opting for acquisitions and collaborations to enhance and expand their footprint for the growth of the transdermal skin patches market. The strategic merger and acquisition and collaboration followed by the players in the transdermal skin patches market allow the companies to take technological advantage by acquiring the technology which allows them to get ahead in the competition. For instance, in December 2021, Boyd Corporation, a US-based provider of advanced sealing, thermal management and protection solutions, acquired MBK Tape Solutions for an undisclosed amount. The acquisition enhances Boyd’s medical material science expertise in applications including biosensors, transdermal patches, and improved wound care. MBK Tape Solutions is a US-based manufacturer of medical-grade adhesives designed for medical devices, direct wound sealing, or transdermal patches.

Transdermal Skin Patches Market Segment
1) By Product: Matrix, Drug In Adhesive, Reservoir, Vapor
2) By Type: Fentanyl Transdermal Patch, Nicotine Transdermal Patch, Buprenorphine Transdermal Patch, Clonidine Transdermal Patch, Oxybutynin Transdermal Patch, Other Types
3) By Application: Pain Relief, Nicotine Cessation, Hormone Replacement Therapy, Neurological Disorders, Cardiovascular Disorders, Other Applications

Transdermal Skin Patches Market Major Players and Strategies
Major players in the transdermal skin patches market are Mylan Pharmaceuticals Inc., Hisamitsu Pharmaceutical, Novartis, Johnson & Johnson, Teikoku Pharma, Mylan, 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., Access Pharmaceuticals Inc., Luye Pharma Group Ltd., Purdue Pharma L.P., Abbott Laboratories, Aneva Drug Delivery Systems, Allergan PLC., Corium International Inc., Immune Pharmaceuticals, Hercon Pharmaceuticals, Pocono and DURECT Corporation.

In June 2020, Nutriband Inc., a USA-based pharmaceutical and healthcare provider that focuses on transdermal and topical technologies, acquired 4P Therapeutics Inc. for an undisclosed amount. Through the acquisition, Nutriband aimed to expand its product portfolio to include transdermal technologies, prescription drugs, and clinical development. 4P Therapeutics Inc. is a U.S.-based biotechnology healthcare research and development company that focuses on novel methods for drug delivery.

The Transdermal Skin Patches Global Market Report 2023 covers regional data on transdermal skin patches market size, transdermal skin patches market trends and drivers, opportunities, strategies, and transdermal skin patches market competitor analysis. The countries covered in the transdermal skin patches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Transdermal skin patches refer to a drug delivery technique where a pre-prescribed dose of medication is applied as an adhesive patch and absorbed via the skin into the bloodstream. They deliver a precise, pre-set dosage of medication that is absorbed into the bloodstream through the skin.

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