Fentanyl Transdermal Patches Market: Overview

  • Fentanyl transdermal patches are used for administration in opioid-tolerant patients with severe, persistent, and moderate to severe chronic pain. These patches are utilized when an opioid analgesic is needed to be used for an extended period of time.
  • Fentanyl is known to be a strong opioid agent and is considered to be 100 times more potent in comparison to morphine. Commercially, this agent is available either as a patch or a transdermal therapeutic system (TTS) that tends to supply drugs to the skin surface, and offers continuous drug delivery to body circulation for a number of days.
  • In 1960, Fentanyl was first manufactured by Paul Janssen. It was approved for medical usage in the United States in the year 1968.  Around the globe, it was estimated that in 2015, over 1,600 kilograms were used in health care.
  • The global fentanyl transdermal patches market is projected to expand at a significant pace during the forecast period. The growth of fentanyl transdermal patches market is expected to be driven by increase in prevalence of chronic pain, cancer pain, rise in prescription rate for fentanyl patches, and high demand for OTC non-opioid or pain medicines.

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Key Drivers of Global Fentanyl Transdermal Patches Market

  • The global fentanyl transdermal patches market is driven by rise in patient population experiencing chronic pain, cancer pain, increased demand for OTC patches, and low prices, owing to patent expiration for innovative transdermal patches
  • Large number of players in the fentanyl transdermal patches market are investing in the development of improved sand materials for transdermal patches. For instance, in August 2015, Sparsha Pharma International Pvt. Ltd., a Hyderabad-based transdermal patch maker, launched the generic version of the fentanyl patch, a synthetic narcotic drug delivered through an adhesive patch attached to the skin, in the U.S. Sparsha Pharma invested around US$ 7 Mn to build a transdermal drug delivery development and manufacturing facility in Hyderabad, of which, US$ 4 Mn were raised from Japan-based transdermal patch maker, Teikoku Pharma.
  • Increase in geriatric population is likely to propel the incidence rate of chronic diseases, such as diabetes, cancer, and bone-related disorders, as elderly people are at a greater risk of these diseases. Moreover, growth in patient pool is expected to drive the demand for transdermal pain management drugs as a treatment option against these diseases.

North America to Hold Major Share of Global Fentanyl Transdermal Patches Market

  • North America is projected to account for a prominent share of the global fentanyl transdermal patches market during the forecast period
  • Use of transdermal drug delivery system has increased for pain management of certain conditions, such as cancer. Transdermal patches can deliver pain management drugs at a predetermined rate across the dermis to achieve either a local or a systemic effect.
  • Rise in prevalence of cancer is likely to drive the adoption of transdermal pain management drugs for the treatment of chronic pain
  • According to the American Cancer Society, in 2019, 1,762,450 new cancer cases were diagnosed in the U.S.

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Key Players Operating in Global Fentanyl Transdermal Patches Market

Major players operating in the global fentanyl transdermal patches market are:

  • Hisamitsu Pharmaceutical Co., Inc.
  •  Alvogen
  • Icure PHARM. INC.
  • Mylan N.V.
  • Novartis AG

Global Fentanyl Transdermal Patches Market: Research Scope

Global Fentanyl Transdermal Patches Market, by Indication

  • Musculoskeletal Pain
  • Auto-immune Disease
  • Post-operative Pain
  • Cancer Pain
  • Others

Global Fentanyl Transdermal Patches Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fentanyl Transdermal Patches Market

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