A Strategic Analysis of Transdermal Patches Market

The global transdermal patches market is projected to reach 8.0 USD billion by 2029 from USD 6.2 billion in 2023, at a CAGR of 4.5% from 2023 to 2029. The increasing prevalence of chronic diseases, growing adoption of analgesic patches, technological advancements in a transdermal patches, and switching from conventional injections to transdermal patches are all factors driving the growth of the global transdermal patches market. However, throughout the projected period, factors including the drug failure and recalls of transdermal drug delivery systems and the rising cost of healthcare facilities will likely restrict market growth to some extent.

The prominent players in the global transdermal patches market are Johnson & Johnson (U.S.), Viatris Inc. (U.S.), Hisamatsu Pharmaceuticals Co. Ltd. (Japan), Novartis AG (Switzerland), USB S.A. (Belgium), Boehringer Ingelheim International GmbH (Germany), Endo International plc. (Ireland), Luye Pharma Group (China), AbbVie Inc. (U.S.), Nitto Denko Corporation (Japan), Cipla Inc. (India), Teva Pharmaceutical Industries Ltd. (Israel), Agile Therapeutics (U.S.), Bayer AG (Germany), Amneal Pharmaceuticals LLC. (U.S.), Hikma Pharmaceuticals PLC (U.K.), Alvogen Group Inc. (U.S.), Sparsha Pharma International Pvt Ltd (India), Iontopatch (U.S.), Medherant Limited (U.K.), AdhexPharma (France), Evernow (U.S.), LEAD CHEMICAL Co., Ltd. (Japan), Purdue Pharma L.P (U.S.) and Mundipharma International (U.K.).