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The technological advancements in drug delivery systems have led to the innovation in transdermal patches. The transdermal skin patches are articulated to deliver the active ingredients of drugs across the skin into the systemic blood circulation in a continued or measured mode through diffusion. Apart from being convenient to the patients and noninvasive, the transdermal route offers other advantages such as circumventing first-pass digestion and avoidance of gastric/enzymatic drug degradation. Moreover, by using the transdermal route, steady-state concentrations of the drug in plasma can be achieved. The transdermal patches are currently being commercialized as hassle-free, convenient, and durable products. These patches can be worn until seven days, depending on their therapeutic indication. Growing use of transdermal patches in the treatment of osteoporosis in men; migraine, Alzheimer’s disease, and hormonal disorders is likely to propel the growth of the market.
Key Market Driver -
Growing adoption of transdermal patches due to pain-free self-administration of drugs, a steady- state concentrations of the drug in plasma and keeping away from gastrointestinal toxicity is anticipated to drive the market
Key Market Restraint -
Limited awareness and high cost of products
The transdermal skin patches market is anticipated to experience lucrative growth during the forecast period owing to factors such as rising benefits over the ingesting and oral medications, the prolonged activity of the drug, and ease of administration. Transdermal skin patches are quite useful in avoiding gastrointestinal toxicity/acidity as it bypasses first step metabolism and avoidance of enzymatic and/ or gastric drug degradation. This delivery system also avoids traditional oral route or use of syringes to inject medications. Being non-invasive, this mode of drug delivery lowers the troublesomeness triggered due to intravenous or parenteral therapies. These patches offer convenient and ache-free self-administration of drugs, ease to the patients, and accomplished steady-state concentrations of the drug in plasma, these factors may contribute to boosting the global transdermal patch market in the projected period.
However, the skin is a very good barrier, it only allows small molecule medications to penetrate and diffuse through it and large molecules are exempted, making only small drugs to be delivered this can be a major restraint for the market.
Globally, the transdermal skin patches market can be segmented on the bases of type, applications, components, end-users, and region. Based on the type the market can be segmented into drug-in-adhesive, reservoir, matrix, and others. Based on the applications, the market can be segmented into central nervous system disorders, cardiovascular diseases, hormonal diseases, pain management, nicotine cessation, and others. Based on the distribution channel, the market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Geographically, the transdermal skin patches market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
Mylan N.V., Hisamitsu Pharmaceutical Co. Inc., UCB S.A., Belgium, Novartis AG, GlaxoSmithKline plc., Boehringer Ingelheim International GmbH. Teva Pharmaceutical Industries Ltd., Endo Pharmaceuticals Inc., Johnson & Johnson Services, Inc., and others.
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Geographically, North America is likely to account for the major market share and is also anticipated to retain its ascendancy throughout the forecast period. The region will prove to be a profitable market for transdermal patch manufacturers due to enormous healthcare expenditure and rise in research and development activities to produce minimally invasive treatment solutions for long-lasting conditions such as smoking, motion sickness, pain relief and others. Europe market is likely to hold the second-largest share in the market, due to the rise in prevalence of chronic diseases and the adoption rate of the non-invasive and novel treatment in the region. However, Asia-Pacific possesses the high market potential for growth of the market due to the rise in the geriatric population and an increase in the purchasing power of the population in the Asian countries. Numerous government initiatives across different countries will impact the market outlook over the projected timeframe.
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