Transdermal medical patch is a medicated adhesive patch that is adhered to the skin to deliver a specific dose of medication through the skin non-invasively. These patches administer medication dose into the bloodstream by using diffusion technique. A patient's body heat activates the patch, inorder to begin releasing medication. These patches are considered effective for the treatment of hormonal and cardiac disorders, migraine, Parkinsons disease, Alzheimers, strokes, dermatology-related issues, and restless leg syndrome treatments.
The "Global Transdermal Medical Patch Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the transdermal medical patch market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading transdermal medical patch market players and offers key trends and opportunities in the market.
Based on type, the global transdermal medical patch market is segmented into methyl salicylate-based patch, rivastigmine patch, fentanyl patch, lidocaine patch, diclofenac patch, nicotine patch, and others.
On the basis of application, the market is bifurcated into offline channel, and online channel.
MARKET DYNAMICS Drivers:
The advantages that are associated with the patch technique such as ease of administration, non-invasive and painless administration of medication and prolonged activity of the drug and various benefits over traditional drug delivery methodologies are factors driving the transdermal medical patch market.
Growing technological advancements in transdermal drug delivery system and increasing product launches and approvals boosts the market growth.
Increasing research and development investment for advancements in transdermal patches and growing funding and investments for drug development propel the market growth.
The inability of the skin to absorb large amount of medications.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The transdermal medical patch market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the transdermal medical patch market in these regions.
IMPACT OF COVID-19 ON TRANSDERMAL MEDICAL PATCH MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak worldwide is expected to have a positive effect on the transdermal medical patches market. These patches allow safe, reproducible, and controlled administration of drugs to a specific skin microenvironment. Moreover, researchers are working on a potential vaccine development against the new COVID-19 strain are exploring the use of a fingertip-sized skin patch for delivery of drug.
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The report covers key developments in the transdermal medical patch market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from transdermal medical patch market are anticipated to have lucrative growth opportunities in the future with the rising demand for transdermal medical patch in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the transdermal medical patch market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Johnson & Johnson
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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The List of Companies
1. Hisamitsu Pharmaceutical
3. Johnson and Johnson
6. Teva Pharmaceutical
7. UCB Pharma
8. Nitto Denko