Asia Pacific CBD Patch Market is expected to achieve market growth during the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market will grow at a CAGR of 18.1% during the forecast period of 2021-2028 and is expected to reach USD 64,169.10 by 2028. The increasing use of CBD products and patches for pain relief and consumer awareness is acting as drivers for the growth of the CBD patches market.

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CBD patches are transdermal patches that contain cannabidiol (CBD). CBD is quickly delivered to the local area around the patch and then works its way through the bloodstream. By applying a patch directly to the skin, the CBD can bypass the digestive system and increase the bioavailability of the product.

Different types of patches are available in the market depending on the application. CBD patches are mainly used to treat chronic pain like neck pain, shoulder pain, lower back pain, and others. CBD patches are also used to treat mental health issues like insomnia, anxiety, and depression, among others. It relieves pain and keeps a person calm and stress-free, which is why the demand for the product in the market is increasing.

The increasing use of CBD patches to treat chronic pain is the main driver in the market. The side effects associated with CBD may prove to be a challenge, but expanding the field of research into medicinal uses of CBD patches is proving to be an opportunity. The restrictions imposed by government and medical bodies on the use of CBD for medical applications and the challenges faced by the impact of COVID-19 on the raw materials supply chain are the limiting factors.

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TOP KEY PLAYERS:
Ipsen Pharma
AbbVie Inc.
Mylan NV
Pfizer Inc.
Zydus Pharmaceuticals, Inc. (a subsidiary of Zydus Cadila)
Teva Pharmaceutical USA, Inc. (a subsidiary of Teva Pharmaceutical Industries Ltd.)
Takeda Pharmaceutical Company Limited
Sanofi
Arbor Pharma
Tolmar Pharmaceuticals, Inc.
GP-Pharm

Market scope and market size of CBD patches in Asia Pacific

The Asia Pacific CBD patch market is segmented by product, type, packaging, dosage, derivative, application, source type, end-user and distribution channel. The growth between segments will help you analyze growth niches 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 layered drug-in-adhesive. In 2021, the reservoir segment is dominating the CBD patch market due to its use in various CBD applications.
  • On the basis of species, the CBD patch market is segmented into cannabis indica, hybrid and sativa. In 2021, the cannabis indica segment will dominate the CBD patch market due to its high CBD and low THC percentage compared to sativa and hybrid.
  • On the basis of packaging, the CBD patches market is segmented into two to five patches, single patches, and more than five patches. In 2021, the two to five patch segment is dominating the CBD patch market due to its high availability.
  • On the basis of dosage, the CBD patch market is segmented into under 30mg, 30-40mg, 40-50mg and over 50mg. In 2021, the sub-30mg segment is dominating the CBD patch market as the market is in its early stages and new consumers are starting with low dosage.
  • On the basis of derivatives, the CBD patches market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC), and others. In 2021, the cannabidiol (CBD) segment is dominating the CBD patches market due to the limitations on tetrahydrocannabinol (THC) content of 0.2-0.3% depending on the country of use.
  • On the basis of Application, the CBD Patches market is segmented into Chronic Pain, Anxiety, Arthritis, Mood Elevation, Neurological Pain and Others. In 2021, the chronic pain segment is dominating the CBD patch market due to the increase in chronic pain cases such as neck pain and shoulder pain.
  • On the basis of source type, the CBD patches market is segmented into natural and synthetic. In 2021, the natural segment is dominating the CBD patches market due to consumer trust in the natural products as herbal products are considered safe.
  • On the basis of end-use, the CBD patches market is segmented into home care, R&D centers, hospitals, clinics, rehabilitation centers, and others. In 2021, the home care segment will dominate the CBD patch market as the use of CBD products in medical care is not yet approved.
  • On the basis of distribution channel, the CBD patches market is segmented into dispensaries and dispensaries, online and brick-and-mortar stores. In 2021, the Dispensary and Dispensary segment will dominate the CBD patches market due to its well-established manufacturer-to-consumer supply chain.

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Points covered in the report:

  • The points discussed in the report are the major market players involved in the market.
  • The full profile of the companies is mentioned.
  • The report also includes the production, sales, future strategies and technological developments they are making.
  • The growth factors of the market are discussed in detail with the various end-users of the market being explained in detail.
  • The application areas of the market are also discussed to provide clients with a comprehensive view of the market.
  • The report contains the SWOT analysis of the market. Finally, the report contains the final part where the opinions of the industry experts are included.

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This market research report serves as a valuable source of information that helps companies to get a comprehensive overview of the current market trends, consumer demands and preferences, market situations, opportunities, and market status. The report provides the comprehensive study of the current wholesale market situation along with several market dynamics. Furthermore, the report also encompasses all the information including market definition, classifications, key developments, applications, and commitments as well as the detailed actions taken by the key players in terms of product launches, joint ventures, developments, mergers and acquisitions, and the impact of the same in terms of sales, import , export, sales and CAGR values.

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