An Outstanding CBD Patch Market Report helps to strategize business growth with actionable insights and market data provided by an astute and authoritative DBMR team. This business document focuses on smaller, singular subjects, issues, or populations, rather than an overall market sample. The industry analysis report illuminates more truthful details regarding the exact business. The report gives deep understanding of who are the buyers, specific market, and what influences the purchase decisions and behavior of target audience members. The universal CBD Patch marketing report has thoughtful information about the business’s buyer personas, target audience, and customers to determine how viable and successful the product or service would be, and/or is, among these people.
Global CBD Patch Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.5% in the forecast period of 2021 to 2028 and is expected to reach USD 595,148.34 thousand by 2028. Growing adoption of CBD Patch in the pain relief applications and consumer awareness is boosting the market.
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Market Analysis and Insights: Global CBD Patch Market
CBD patches are transdermal patches containing cannabidiol (CBD). They slowly release CBD into the bloodstream through the skin. Some people may prefer this CBD delivery system to inhaling vaporized CBD or ingesting it orally via edibles or drinks. CBD patches may be a more suitable option for certain applications, such as treating pain, although personal preference will play a role in choosing the best way to take CBD. This transdermal method delivers the CBD quickly to the local area around the patch. From there, it works its way into the bloodstream. When people take CBD orally – via an oil or gummy, for example — the compound must first pass through the digestive system. The body may then use it, break it down, or even simply excrete it as waste. As such, much of an oral CBD dose may be lost in the digestive system.
Increasing demand for CBD patches due to consumer awareness for pain relief applications is the major driving factor in the market. The side effects associated with CBD and THC with the skin allergies can prove to be a challenge however the widening of research scope for medical applications of CBD patches prove to be an opportunity. The restraints by the government and medical bodies for the use of CBD for medical applications and the challenges faced due to the impact of Covid-19 on the supply chain of the raw materials are the restraining factors.
The Global CBD Patch Market study includes data from 2021 to 2028 useful for industry executives, marketing, sales and product managers, analysts, and anyone looking for market data in easily accessible document.
CBD Patch Market – Company Profiles
Zydus Pharmaceuticals, Inc. (a subsidiary of Zydus Cadila)
Teva Pharmaceutical USA, Inc. (a subsidiary of Teva Pharmaceutical Industries Ltd.)
Takeda Pharmaceutical Company Limited
Tolmar Pharmaceuticals, Inc.
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CBD Patch Market Scope and Market Size
The CBD Patch market is segmented on the basis of the product, species, packaging, dosage, derivative, application, source type, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product, the CBD Patch market is segmented into reservoir, matrix and layer drug-in-adhesive. In 2021, reservoir segment is dominating the CBD Patch market due to its use in varied CBD applications and its steady and controlled release for longer period of time.
On the basis of species, the CBD Patch market is segmented into cannabis indica, hybrid and sativa. In 2021, cannabis indica segment is dominating the CBD Patch market due to its high CBD and low THC percentage as compared to sativa and hybrid. As many regions have a limit in the use of THC in products, cannabis indica is preferred.
On the basis of packaging, the CBD Patch market is segmented into two to five patches, single patch and more than five patch. In 2021, two to five patches segment is dominating the CBD Patch market due to its high availability and the discounts offered by manufacturers on a bundle of patches in this range.
On the basis of dosage, the CBD Patch market is segmented into below 30 mg, 30-40 mg, 40-50 mg and above 50 mg. In 2021, below 30 mg segment is dominating the CBD Patch market as the market is at its initial stages and new consumers start with low dosage and then increase as per the requirement.
On the basis of derivatives, the CBD Patch market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC) Others. In 2021, cannabidiol (CBD) segment is dominating the CBD Patch market owing to the restrictions on the tetrahydrocannabinol (THC) content of 0.2-0.3% depending on the country of use and also the side effects associated with tetrahydrocannabinol (THC).
On the basis of application, the CBD Patch market is segmented into chronic pain, anxiety, arthritis, elevate mood, neurological pain and others. In 2021, chronic pain segment is dominating the CBD Patch market due to the increase of cases of chronic pain such as neck pain, shoulder pain, etc and the high availability of patches in the pain relief application.
On the basis of source type, the CBD Patch market is segmented into natural and synthetic. In 2021, natural segment is dominating the CBD Patch market due to the trust of consumers on the natural products as plant based products are considered safe without any skin problems or allergies.
On the basis of end use, the CBD Patch market is segmented into homecare setting, research and development centers, hospital, clinics, rehab centers and others. In 2021, homecare setting segment is dominating the CBD Patch market as the CBD product utilization is not yet approved in the hospitals and clinics.
On the basis of distribution channel, the CBD Patch market is segmented into dispensaries & pharmacies, online and conventional stores. In 2021, dispensaries & pharmacies segment is dominating the CBD Patch market due to its presence and established supply chain from the manufacturer to consumer.
On the basis of region, the CBD Patch market is segmented into North America, South America, Europe, Asia-Pacific, Middle East & Africa. In 2021, North America region is dominating the CBD Patch market due to higher number of manufacturers in the region and developed market in the U.S.
CBD Patch Market Country Level Analysis
The CBD Patch market is analyzed and market size information is provided by the country, product, species, packaging, dosage, derivative, application, source type, end user and distribution channel as referenced above.
The countries covered in the CBD Patch market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina, Colombia, Peru, Chile, Venezuala, Ecuador and Rest of South America.
The reservoir segment in the product is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 due to the increased use of this type as it provides steady release of CBD and can be used for a prolonged duration. U.S. dominates the North America region due to higher demand and manufacturers in the region. U.K. dominates the Europe region due to the manufacturers and research industries. China dominates the Asia Pacific region because of the higher manufacturing and consumption of CBD patches in the region.
Some extract from Table of Contents
The Report Covers The Following Chapters
Executive Summary – The executive summary section of the report gives a brief overview and summary of the report
Report Structure – This section gives the structure of the report and the information covered in the various sections.
Introduction – The introduction section of the report gives brief introduction about segmentation by type, segmentation by channel type and segmentation by payment method.
Market Characteristics – The market characteristics section of the report defines and explains the CBD Patch market. This chapter also defines and describes goods and related services covered in the report.
Trends And Strategies – This chapter describes the major trends shaping the global CBD Patch market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
Impact Of COVID-19 – This chapter discusses the impact of COVID-19 on the CBD Patch market.
Global Market Size And Growth – This section contains the global historic (2010-2020) and forecast (2022-2029), and market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
Regional Analysis – This section contains the historic (2010-2020) and forecast (2022-2029), and market values and growth and market share comparison by region.
Segmentation – This section contains the market values (2022-2029) and analysis for different segments.
Regional Market Size and Growth – This section contains the region’s market size (2022), historic (2010-2022) and forecast (2022-2029), and market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
The market overview sections of the report describe the current size of the market, background information, government initiatives, regulations, regulatory bodies, associations, corporate tax structure, investments, and major companies.
Competitive Landscape – This section covers details on the competitive landscape of the global CBD Patch market, estimated market shares and company profiles for the leading players.
Key Mergers And Acquisitions – This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
Opportunities And Strategies – This section gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
Conclusions And Recommendations – This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for CBD Patch companies in terms of service offerings, geographic expansion, price offerings, and target groups.
Appendix – This section includes details on the abbreviations and currencies codes used in this report.
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