Transdermal Skin Patches Market, By Type (Single-layer Drug-in-Adhesive, Multi-layer Drug-in-Adhesive, Matrix, and Others), By Application (Pain Relief, Smoking Cessation, Overactive Bladder, Hormonal Therapy, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024

Code : CMI5085

Pages :170

Formats :

Excel and PDF

Industry : Medical Devices

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.

Transdermal Skin Patches Market Key Factors

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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.

/p>Increasing Inorganic Growth Strategies by Key Market Players

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.