Transdermal patches are an adhesive method of drug delivery that is absorbed through the skin. This method is called transdermal and can be electronic or mechanical for short- or long-term use. The patches offer a specific dose of medicine and have advantages over oral medication, such as being non-invasive and painless. Despite similar efficacy, transdermal patches are a preferred option for many patients.
The global transdermal skin patches market is expected to experience growth throughout the forecast period due to the increasing adoption of these patches. Additionally, the growth of the market is anticipated to be propelled by rising investments and funding for drug development.
In 2021, the global market for Transdermal Skin Patches was assessed at US$ 7,695.0 Mn, and it is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 5.0% between 2022 and 2028, reaching a value of US$ 10,839.7 Mn by 2028.
In 2020, the global market for transdermal skin patches was led by North America with a dominant position, representing 42.4% of the volume share. Following North America were Europe and Asia-Pacific, in that order.
Major Players in the Transdermal Skin Patches Industry:
Teva Pharmaceutical Industries Ltd.
Teva Pharmaceutical Industries Ltd. was established in 1944 and is headquartered in Tel Aviv, Israel. It operates in 60 countries and is engaged in various industries, including biopharma, healthcare, medical, and pharmaceuticals. In 2019, Teva Pharmaceutical Industries Ltd. revealed the launch of an authorized generic of Flector®1 Patch, 1.3%, in the U.S.
Novartis AG
Novartis AG was established in 1996 and is headquartered in Basel, Switzerland. It operates in about 140 countries and is engaged in the development, manufacture, and marketing of pharmaceuticals, herbicides, insecticides, over-the-counter medications, veterinary medicines, and garden products.
Teikoku Pharma USA Inc. (Teikoku Seiyaku Co. Ltd.)
Teikoku Pharma USA Inc. (Teikoku Seiyaku Co. Ltd.) was established in 1997 and is headquartered in Kagawa, Japan. It operates in over 50 countries and is focused on the research and development of treatments for the CNS, pain management, and oncology. In 2023, Teikoku Pharma USA Inc. launched Allydone® Patches 27.5 mg and Allydone® Patches 55 mg for the treatment of dementia due to Alzheimer’s disease.