TRANSDERMAL SKIN PATCHES MARKET ANALYSIS

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

Regional Analysis

Transdermal Skin Patches Market Regional Insights

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North America remains the dominant region in the global transdermal skin patches market and is estimated to hold 34.5% of the market share in 2024. This due to a well-established healthcare infrastructure and higher adoption of innovative drug delivery technologies. Major pharmaceutical companies have their headquarters in the U.S. and they are continuously investing in R&D to develop new transdermal patches. Due to stringent U.S. Food and Drug Administration approval process, only high-quality patches are available in the market. Furthermore, awareness regarding benefits of transdermal drugs over oral medications is significantly high among consumers as well as physicians.

The Asia Pacific region, on the other hand, is anticipated to witness the fastest growth over the forecast period. Rapidly developing economies like India and China are expected to be the key contributors. Rising healthcare expenditure and increasing focus of international players to tap opportunities in emerging nations will drive the market in Asia Pacific. India, in particular, stands out with its generic drugs industry. Several local manufacturers in India are engaged in production of cost-effective transdermal patches for pain, hormone replacement, and nicotine cessation therapies. This makes transdermal drugs accessible to masses.