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.
The global transdermal patch production market was 9950.5 M Pieces in 2018 and is expected to grow at a CAGR of 1.40% from 2018 to 2025. The global transdermal patch market was valued at USD 7393.08 Million in 2018 and is expected to reach USD 8747.23 Million by 2025. Overall, the transdermal patch products performance is positive with the global economic recovery.
The technical barriers of transdermal patch are high, and the core technology of transdermal patch concentrates in relative large companies including Hisamitsu Pharmaceutical, Johnson & Johnson, Novartis, UCB Pharma, Mylan, Nitto Denko and Teikoku Seiyaku. Asia Pacific account for almost 59.92% of total transdermal patch in 2018, followed by North America with 24.19% of sales 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. In addition to those mentioned applications (smoking cessation, hypertension, pain management), new applications continue to emerge for transdermal drug delivery. The demand for transdermal patch is expected to continue increasing during the remaining years of the forecast period of 2020-2025.
In the past few years, the price of transdermal patch has a little change and we expect the price will continue to fluctuate in the following years. Additionally, the improvement of energy, transportation costs, employee wages, and equipment depreciation will play a significant role in promoting the cost of transdermal patch.
As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality. With the snatch for market share in emerging regions, the competition in transdermal patch industry will become more intense.