At 3.7% CAGR, the South America Transdermal Medical Patch Market is projected to be worth US$ 411.41 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the South America transdermal medical patch market was valued at US$ 343.02 million in 2023 and is expected to reach US$ 411.41 million by 2028, registering a CAGR of 3.7% from 2023 to 2028. Increasing prevalence of chronic diseases and growing consumption of tobacco are the critical factors attributed to the South America transdermal medical patch market expansion.                  

Transdermal medical patches are used to administer medications to people suffering from chronic diseases such as heart disease, stroke, diabetes, cancer, obesity, and arthritis. A cardiac patch provides an excellent platform for cell engraftment improvement. For example, a vascularized cardiac patch developed recently shows promising potential for treating ischemic heart injuries. Nitroglycerin transdermal patches are used to prevent angina (chest pain) episodes in people with coronary artery disease. It works by relaxing the blood vessels and reducing the stress on the heart, thereby lowering the need for oxygen. However, these patches cannot be used to treat angina attacks that have already begun.

Rivastigmine patch is used to treat dementia (memory loss) associated with mild, moderate, or severe Alzheimer's disease or mild-to-moderate dementia associated with Parkinson's disease. Rivastigmine and donepezil, which are cholinesterase inhibitors, exhibit a dose–response relationship, with higher doses of the drugs demonstrating greater efficacy. As a small, lipophilic, and hydrophilic molecule, rivastigmine is chemically well-suited for transdermal delivery. The technology underlying the rivastigmine patch contributes to its discreetly small and thin appearance. Thus, the rivastigmine patch enables quick and easy access to high-dose efficacy. Therefore, the increasing prevalence of chronic diseases catalyzes the demand for medical patches.

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

Based on type, the South America 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 35.4% market share in South America transdermal medical patch market in 2023, amassing US$ 121.33 million. It is projected to garner US$ 150.15 million by 2028 to expand at 4.4% CAGR during 2023–2028.

Based on application, the South America 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 South America transdermal medical patch market in 2023, amassing US$ 111.54 million. It is projected to garner US$ 135.95 million by 2028 to expand at 4.0% CAGR during 2023–2028.

Based on distribution channels, the South America transdermal medical patch market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 43.9% market share in South America transdermal medical patch market in 2023, amassing US$ 150.48 million. It is projected to garner US$ 175.77 million by 2028 to expand at 3.2% CAGR during 2023–2028.

Based on country, the South America transdermal medical patch market has been categorized into Brazil, Argentina, and the Rest of South America.  Our regional analysis states that Brazil captured 56.2% market share in 2023. It was assessed at US$ 192.65 million in 2023 and is likely to hit US$ 236.69 million by 2028, exhibiting a CAGR of 4.2% during the forecast period.     

Key players dominating the South America 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., 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.
• In Sept 2022, Corium launched ADLARITY (donepezil transdermal system) for patients with Alzheimer's Dementia.

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