Dublin, Jan. 06, 2022 (GLOBE NEWSWIRE) -- The "Transdermal Patch Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global transdermal patch market is projected to witness a compound annual growth rate of 2.95% to grow to US$10,573.094 million by 2026, from US$8,626.167 million in 2019.
The market is projected to show steady growth primarily attributed to the success of transdermal patches in dealing with the issues concerns. Transdermal Patches are stuck to the skin and provide medication to the body through the skin. It does not involve the usage of sirens or other material that is to be injected into the body but has glue and sticks to the skin, making them easy to apply and remove.
Further, the benefits of these patches, such as painless administration of medicine and prolonged activity of the drug are making them widely favorable, especially among the old aged people and youth. Pain management transdermal patch is widely used around the world to ease out joint, muscular, and other paining points. The global transdermal patches market is segmented based on type, application, and geography.
Major companies have been providing advanced transdermal patches to their customers. For Instance, Aveva, one of the global leaders in transdermal drug delivery in the United States, offers controlled release, fully integrated nicotine transdermal patches to their patients and customers.
Other companies are also making significant developments in the market. In India, Rusan Healthcare Pvt Ltd. provides nicotine patch 2baconil for patients seeking Nicotine Replacement Therapy. The company had been planning to expand its presence, worldwide.
Number of people quitting smoking
The market is expected to surge in the coming years in the region due to the increasing number of people quitting smoking. The decrease in the smoking rate is expected to drive the demand for nicotine patches and nicotine replacement therapies. This will lead to a surge in the sales for transdermal skin patches, in the coming years.
According to the Center for Disease Control & Prevention, in the year 2018, 7.5% of adult smokers, with a number around 2.9 million were successful in quitting smoking. 31.2% of all adult smokers stated that they received medication and counseling when trying to leave smoking.
According to the World Health Organization, smokers who are familiar with the consequences of consuming tobacco, most are willing to quit. In China, according to the National Health and Planning Commission, 23% to 25% of cancer-related deaths were attributable to smoking, annually.
Smoking and nicotine cessation are known to be effective treatments in cancer prevention. Of all-around 316 million smokers in China, 18% have been planning to quit smoking. In India, according to the Global Adult Tobacco Survey in 2019, of the 21,085 current tobacco users in the survey conducted, 52.2% were willing to quit all types of tobacco.
Research by PubMed.gov on 1,686 heavy smokers aged 25-64 years showed that cessation was possible in 163 patients or 19.4% patients who used nicotine patches and in 99 patients (11.7%) who used placebo patches. The study concluded that nicotine patch is efficient in cessation of smoking.
North America is expected to have a major share
North America forms a budding market for transdermal patches drug delivery system, mainly due to the presence of cutting-edge R&D happening in countries like the United States of America and Canada, along with a growing population with chronic ailments, demand for better systems to deliver vaccines, and an increasing percentage of the elderly population which might benefit with a non-invasive system to administer drugs.
US Food and Drug Administration (FDA) has come up with draft guidance for transdermal and topical drug delivery systems with many pharmaceutical companies rolling out drugs having this method of application. Looking at the positive industry landscape along with support from governments, it is expected that the trans-dermal patches market in North America will witness decent and consistent growth in the upcoming years.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Transdermal Patch Market Analysis, By Transdermal Patch Type
5.2. Single-layer Drug-in-Adhesive
5.3. Multi-layer Drug-in-Adhesive
5.5. Vapor Patch
6. Transdermal Patch Market Analysis, By Applications
6.2. Neurologic Conditions
6.3. Pain Management
6.4. Nicotine Cessation
7. Transdermal Patch Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
Tesa Labtec GmbH
Nitto Denko Corporation
Noven Pharmaceuticals Inc.
LTS Lohmann Therapie-Systeme AG
Corium International Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ymcf6s
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