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Transdermal Skin Patches Market will generate new growth opportunities 2023-2028

 


Transdermal patches are a method of drug delivery in which an adhesive patch provides a pre-prescribed dose of medication that is absorbed through the skin and into the bloodstream. The term ‘transdermal’ describes a delivery method used for administering pharmaceuticals. These patches are designed for short-term or long-term administration and can either be electronic or mechanical. Transdermal patches adhere to the skin as a way to deliver drugs. They provide a specific, predetermined dose of medicine which is absorbed through the skin and into the blood. Although comparable to oral-dosage forms in efficacy, skin patches have several advantages over oral forms. They provide a non-invasive and painless method of drug delivery.

Market Statistics:

The global transdermal skin patches market was valued at US$ 7,695.0 Mn in 2021 and is forecast to reach a value of US$ 10,839.7 Mn by 2028 at a CAGR of 5.0% between 2022 and 2028.

Market Drivers:

1.      Growing adoption of transdermal skin patches is expected to boost the growth of the global transdermal skin patches market during the forecast period. For instance, in December 2020, Agile Therapeutics, Inc. announced the U.S. commercial launch of Twirla (levonorgestrel and ethinyl estradiol) transdermal system, a new non-daily, non-invasive contraceptive patch. It is now available in the U.S. by prescription for women of reproductive potential with a BMI 30 kg/m2. It is designed to be worn on the abdomen, buttock, or upper torso (excluding breasts).

2.      Growing funding and investments for drug development is expected to propel the growth of the global transdermal skin patches market over the forecast period. For instance, in May 2019, Mercia invested £2.0 million in transdermal drug delivery specialist Medherant Limited. This latest investment will enable Medherant to finalize the selection of three TEPI Patch products to take into clinical development. The development of patch products that will bring significant benefits to patients across the globe.

 

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