At 4.8% CAGR, the Europe Transdermal Medical Patch Market is projected to be worth US$ 3,079.58 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe transdermal medical patch market was valued at US$ 2,434.09 million in 2023 and is expected to reach US$ 3,079.58 million by 2028, registering a CAGR of 4.8% from 2023 to 2028. Growing consumption of tobacco and increasing prevalence of chronic diseases are the critical factors attributed to the Europe transdermal medical patch market expansion.                    

Nicotine replacement therapy (NRT) has proven to help people seeking to quit smoking. It makes use of nicotine patches that deliver modest nicotine dosages to relieve cravings. Nicotine is progressively absorbed through the skin once nicotine patches are applied. Smokers with a greater dependence level can use the most robust patches, while those with a lower dependence level can use a lesser dosage. The critical advantage of nicotine patches over acute NRT formulations (gum, nasal spray, oral inhaler, and tablet) is the simplicity of compliance, rather than consuming a medicine throughout the day.

Thus, the increasing consumption of tobacco leads to increasing demand for nicotine patches, thereby driving the growth of the transdermal medical patch market  

On the contrary, recalls of transdermal medical patches due to drug failure hurdles the growth of Europe transdermal medical patch market.

Based on type, the Europe transdermal medical patch market is segmented into single-layer drug in-adhesive, multi-layer drug in-adhesive, reservoir, vapor patch and matrix. The matrix segment held 35.7% market share in 2023, amassing US$ 869.27 million. It is projected to garner US$ 1,134.91 million by 2028 to expand at 5.5% CAGR during 2023–2028.

Based on application, the Europe transdermal medical patch market is segmented into neurologic conditions, pain management, nicotine cessation, cardiovascular disorders, hormonal therapy, and others. The pain management segment held 32.5% market share in 2023, amassing US$ 790.39 million. It is projected to garner US$ 1,016.40 million by 2028 to expand at 5.2% CAGR during 2023–2028.

Based on distribution channels, the Europe transdermal medical patch market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 43.7% market share in 2023, amassing US$ 1,063.22 million. It is projected to garner US$ 1,310.21 million by 2028 to expand at 4.3% CAGR during 2023–2028

Based on country, the Europe transdermal medical patch market has been categorized into Germany, France, UK, Italy, Spain, and Rest of Europe.  Our regional analysis states that Germany captured 21.1% market share in 2023. It was assessed at US$ 512.70 million in 2023 and is likely to hit US$ 664.46 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.     

Key players dominating the Europe transdermal medical patch market are Boehringer Ingelheim International GmbH; Endo International Inc; Hisamitsu Pharmaceutical Co Inc; Johnsons and Johnsons; Medline Industries LP; Novartis AG; Teva Pharmaceutical Industries Ltd.; UCB SA; and Viatris Inc among others.   

• In Jan 2021, Notice regarding Obtaining Approval of Partial Change of Approved Matters of “Mohrus Paps XR 120 mg and 240 mg”, Transdermal Analgesic Anti-Inflammatory Patches

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