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The transdermal skin patches market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 3%, as per The Business Research Company’s market report!

Read More On The Transdermal Skin Patches Market Report 2022 – https://www.thebusinessresearchcompany.com/report/transdermal-skin-patche-global-market-report

The Transdermal Skin Patches Market Size In 2022 And Forecast

The global transdermal skin patches market is expected to grow from $6.80 billion in 2021 to $7.10 billion in 2022 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, affecting many markets across the globe. The transdermal skin patches market is expected to reach $8.13 billion in 2026 at a CAGR of 3.4%.

The transdermal skin patches market consists of sales of transdermal skin patches products and related services used to provide medicine to the human body through patches.

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Advanced Modern Technologies Is Driving The Growth Of The Transdermal Skin Patches Market

For instance, in 2019, few technological advances in the TDDS included transdermal patch formulation improvements, introduction of pressure-sensitive adhesives and permeation enhancers, which lead to increased product diffusion and increased drug retention ability in larger quantities. The advances in technologies are expected to increase the demand for transdermal patches owing to its benefits thereby driving the growth of the market.

Competitive Landscape And The Regional Analysis Of The Transdermal Skin Patches Market

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.

Additionally, as per TBRC’s research – North America was the largest region in the transdermal skin patches market in 2021 holding the largest market share and The Middle East is expected to be the fastest-growing region in the forecast period.

The Transdermal Skin Patches Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the transdermal skin patches market.

Opting For Acquisitions And Collaborations – A Key Trend In The Transdermal Skin Patches Market

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 allows the companies to take technological advantage by acquiring the technology which allows them to get ahead in the competition.

Transdermal Skin Patches Market Segmentation By The Business Research Company

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, Others

3) By Application: Pain Relief, Nicotine Cessation, Hormone Replacement Therapy, Neurological Disorders, Cardiovascular Disorders, Others

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Drug Delivery Devices Global Market Report 2022

Medical Equipment Global Market Report 2022

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