TRANSDERMAL SKIN PATCHES MARKET ANALYSIS

Transdermal Skin Patches Market Size and Trends

The global transdermal skin patches market is estimated to be valued at USD 8.79 Bn in 2024 and is expected to reach USD 12.82 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

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The global transdermal skin patches market is witnessing increasing demand for advanced transdermal patches that can deliver both small and large molecule drugs for extended periods. The rising popularity of wearable patches is another key trend in the market. Technological advancements to incorporate features like sensors and wireless connectivity into skin patches are expanding their applications beyond healthcare into sectors like consumer goods and fitness.

Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies, such as product launches by key market players, is expected to drive the market growth over the forecast period. For instance, in September 2022, Corium, Inc., a pharmaceutical company, announced that it had launched Adlarity, a transdermal patch for treating Alzheimer’s disease. Adlarity, a once-weekly patch, delivers consistent doses of donepezil through the skin. It treats patients with mild, moderate, or severe dementia of the Alzheimer’s type.

Increasing adoption of inorganic growth strategies, such as agreements, is expected to drive the market growth over the forecast period. For instance, in March 2023, BioNxt Solutions Inc., a pharmaceutical company, announced that it has executed an agreement to carry out its comparative drug absorption study for the company’s transdermal (“TDS”) Rotigotine patch for the treatment of Parkinson’s disease.