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3. Hisamatsu Pharmaceuticals Co. Ltd. (Japan) and Viatris Inc. (U.S.) are Leading Players in the 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.).

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Hisamitsu Pharmaceutical Co.Inc. accounted for an estimated share of 15-16% of the global transdermal patches market in 2022. Johnson & Johnson is engaged in the research and development, manufacture, and sale of a broad range of products in the healthcare field. Hisamitsu Pharmaceutical Co. Inc. distributes its pharmaceutical products, medical devices, and consumer products to retailers, wholesalers, healthcare professionals, and hospitals through a network of retail outlets and distributors. The company has a strong presence across the Americas, Europe, Asia Pacific, and Africa.

Viatris Inc. accounted for an estimated share of 11-13% of the global transdermal patches market in 2022. The company's generics business is based on the development and manufacture of low-cost, high-quality medicines that are equivalent to brand-name drugs. The company's branded medicines business is based on the development and marketing of new and innovative medicines. The company's consumer healthcare products business is based on the development and marketing of over-the-counter medicines and personal care products. The company offers generic transdermal patches for various therapeutic applications such as cardiovascular, pain, neurological, and contraception.

Novartis AG. accounted for an estimated share of 10-11% of the global transdermal patches market in 2022. The company develops, manufactures, and markets transdermal patches in nearly 12 countries worldwide. It has sales and service partners across Europe, Asia, North America, and South America. The company majorly operates through two operating business segments, namely, innovative and Sandoz medicines. Both segments offer process and developmental solutions for the transdermal patches.

Related Reports:

Transdermal Patches Market by Type (Drug-in-adhesives, Matrix, Reservoir Membrane), Adhesive (Acrylic, Silicone, Hydrogel), Application (Pain, CVS, Hormonal), Distribution Channel (Pharmacy (Retail Online, Hospital)), End User - Global Forecast to 2029

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