QY Research has published a new report on the global transdermal patch market. The global transdermal patch market was valued at US$ 6745 million in 2019 and will reach US$ 7929 million by the end of 2026, growing at a CAGR of 3.56% during 2020-2026.
Transdermal patch is a medicated adhesive patch that is placed on the skin to deliver a specific dose of medication through the skin and into the bloodstream. Transdermal patches include fentanyl transdermal patch, nicotine transdermal patch, buprenorphine transdermal patch, clonidine transdermal patch, oxybutynin transdermal patch, estradiol transdermal patch, nitroglycerin transdermal patch and many others.
Global Transdermal Patch Market- Key Players
Hisamitsu Pharmaceutical, Johnson & Johnson, Novartis, UCB Pharma, Mylan, Teva Pharmaceutical, Nitto Denko, Grünenthal, IBSA Group, GSK, Luye Pharma Group, Pfizer , Chattem, Dr Reddy’s Laboratories, Bayer, Mundipharma, Endo International, Beijing Tide Pharmaceutical, are some of the key players, functioning in the global transdermal patch market. The industry is highly concentrated as Hisamitsu Pharmaceutical owns more than 50% sales market share. The follower is Nitto Denko, who also has about 10% market share.
Transdermal patches have a wide range of applications. In the transdermal route of delivery, drugs are administered by applying a patch to the skin. The drugs, sometimes mixed with a chemical that enhances penetration of the skin, pass through the skin to the bloodstream without injection. The transdermal route allows drugs to be delivered slowly and continuously over many hours or days, or even longer. The demand for transdermal patch is expected to continue increasing during the remaining years of the forecast period of 2020-2025. QYR analyst points out that product quality, brand and price are the three factors for success. In this industry, consumers are very sensitive to the product quality of the product; product quality is the primary consideration for many consumers rather than the price. In most industries, consumers prefer to see the direct results /benefit of the price rather than the brand itself because it is good for them. This is the main contradiction in this industry and companies need to adopt the right sales strategy .
Global Transdermal Patch Market: Regional Analysis
North America, Europe, Japan, China, South America are analyzed in the report. The global sales of transdermal patch increased from 9244 M Pieces in 2015 to 9269 M Pieces in 2019. In 2019, the global transdermal patch market is led by USA. Japan is the second-largest region-wise market.
Read More Information: https://www.qyresearch.com/index/detail/2222640/global-transdermal-patch-market
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