CBD Patch Market Poised to Reach USD 624.17 Million by 2031, Growing at 8.5% CAGR
The "CBD Patch Market" is a dynamic and rapidly evolving sector, with significant advancements and growth anticipated by 2031. Comprehensive market research reveals a detailed analysis of market size, share, and trends, providing valuable insights into its expansion. This report delves into segmentation and definition, offering a clear understanding of market components and drivers. Employing SWOT and PESTEL analyses, the study evaluates the market's strengths, weaknesses, opportunities, and threats, alongside political, economic, social, technological, environmental, and legal factors. Expert opinions and recent developments highlight the geographical distribution and forecast the market's trajectory, ensuring a robust foundation for strategic planning and investment.
What is the projected market size & growth rate of the CBD Patch Market?
Market Analysis and Size
CBD patches are convenient for users who may not want to consume CBD through traditional methods such as oils, capsules, or edibles. Patches provide a discreet and easy way to incorporate CBD into a daily routine. Transdermal patches deliver a slow and sustained release of CBD, providing longer-lasting effects compared to other consumption methods. This can be beneficial for individuals seeking a consistent and prolonged CBD experience. Unlike oral consumption, which involves the digestive system, transdermal patches bypass the digestive tract. This can be advantageous for people with sensitive stomachs or those who want to avoid the variability associated with oral ingestion.
Data Bridge Market Research analyzes that the CBD patch market, which was USD 324,986.93 million in 2023, is likely to reach USD 624,171.30 million by 2031 and is expected to undergo a CAGR of 8.5% during the forecast period. “Homecare Setting” dominates the end user segment of the CBD patch market due to the growing demand for CBD patches.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 350 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
This research report is the result of an extensive primary and secondary research effort into the CBD Patch market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the CBD Patch Market.
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Which are the driving factors of the CBD Patch market?
The driving factors of the CBD Patch market include technological advancements that enhance product efficiency and user experience, increasing consumer demand driven by changing lifestyle preferences, and favorable government regulations and policies that support market growth. Additionally, rising investment in research and development and the expanding application scope of CBD Patch across various industries further propel market expansion.
CBD Patch Market - Competitive and Segmentation Analysis:
Global CBD Patch Market, By Product (Reservoir, Matrix, Layer Drug-In-Adhesive), Species (Cannabis Indica, Hybrid, Sativa), Packaging (Two to Five Patches, Single Patch, More Than Five Patch), Dosage (Below 30 mg, 30-40 mg, 40-50 mg, Above 50 mg), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC), Others), Application (Chronic Pain, Anxiety, Arthritis, Elevate Mood, Neurological Pain, Others), Source Type (Natural, Synthetic), End User (Homecare Setting, Research and Development Centers, Hospital, Clinics, Rehab Centers, Others), Distribution Channel (Dispensaries & Pharmacies, Online, Conventional Stores) - Industry Trends and Forecast To 2031.
How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Which are the top companies operating in the CBD Patch market?
Some of the major players operating in the CBD patch market are:
- Gilead Sciences, Inc. (U.S.)
- BIOCRYST PHARMACEUTICALS, INC.(U.S.)
- AstraZeneca (UK)
- Genentech, Inc. (a subsidiary of F. Hoffmann-La Roche Ltd.) (U.S.)
- Merck Sharp & Dohme Corp. (a subsidiary of Merck & Co., Inc.) (U.S.)
- Hikma Pharmaceuticals PLC (UK)
- AbbVie Inc. (U.S.)
- American Regent, Inc. (a Daiichii Sankyo Group Company) (U.S.)
- Amgen Inc. (U.S.)
- Bristol- Myers Squibb Company (U.S.)
- Teligent (U.S.)
- Eisai Co., Ltd. (Japan)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Neuren Pharmaceuticals (Australia)
- Noxopharm (Australia)
- Amomed Pharma GmbH (Austria)
- Sanofi (France)
- Exelixis, Inc. (U.S.)
- Fresenius Kabi USA (a subsidiary of Fresenius SE & Co. KGaA)(U.S.)
- Pfizer Inc. (U.S.)
Short Description About CBD Patch Market:
The Global CBD Patch market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
North America, especially The United States, will still play an important role which can not be ignored. Any changes from United States might affect the development trend of CBD Patch. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.
Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2024-2031.
CBD Patch Market size is projected to reach Multimillion USD by 2031, In comparison to 2024, at unexpected CAGR during 2024-2031.
Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.
This report focuses on the CBD Patch in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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What are your main data sources?
Both Primary and Secondary data sources are being used while compiling the report. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters
What are the key regions in the global CBD Patch market?
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
This CBD Patch Market Research/Analysis Report Contains Answers to your following Questions
- What are the global trends in the CBD Patch market?
- Would the market witness an increase or decline in the demand in the coming years?
- What is the estimated demand for different types of products in CBD Patch?
- What are the upcoming industry applications and trends for CBD Patch market?
- What Are Projections of Global CBD Patch Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- Where will the strategic developments take the industry in the mid to long-term?
- What are the factors contributing to the final price of CBD Patch?
- What are the raw materials used for CBD Patch manufacturing?
- How big is the opportunity for the CBD Patch market?
- How will the increasing adoption of CBD Patch for mining impact the growth rate of the overall market?
- How much is the global CBD Patch market worth? What was the value of the market In 2020?
- Who are the major players operating in the CBD Patch market? Which companies are the front runners?
- Which are the recent industry trends that can be implemented to generate additional revenue streams?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for CBD Patch Industry?
Customization of the Report
Can I modify the scope of the report and customize it to suit my requirements? Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.
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Detailed TOC of Global CBD Patch Market Insights and Forecast to 2031
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Overview
- CBD Patch Market By Type
- CBD Patch Market By Function
- CBD Patch Market By Material
- CBD Patch Market By End User
- CBD Patch Market By Region
- CBD Patch Market: Company Landscape
- SWOT Analysis
- Company Profiles
- Continued...
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