LONDON, Dec. 18, 2016 /PRNewswire/ — Innovations in pharmaceutical industry have a long track record of showing commercialization potential with respect to emerging and feasible technology. In US, such innovations have high level of acceptance among various stake holders of the pharmaceutical industry. Transdermal patches have emerged as one such innovations which have rich history but main development has been observed in past decade. They have been improved from a mere piece of tape dipped in formulation to complex matrix system containing therapeutics offering higher control over drug delivery. Long-term usage, high cost-effectiveness, high compliance rates and easy availability are some of the major factors behind the growth of transdermal patches in US.
Consumer base for transdermal patches is quite high in US in comparison to other markets across the globe. Segments like female contraceptives and Nicotine Replacement Therapy (NRT) have received lots of attention in past years. Indications like Parkinson’s disease and Alzheimer’s disease have few transdermal patches and have unexplored opportunities in US market. While Insulin and vaccine patches are at different stages of clinical trials which would be introduced in coming years. Unexplored disease segments have less competition and lack of transdermal patches makes them suitable choice for potential transdermal patch developers. This scenario suggests that US transdermal patch market has lots of commercialization opportunities that have to be reaped in coming years.
Some of the transdermal patches have completed their product life cycle and have given way to generic transdermal patches. Several small/mid-sized transdermal patch developers can take benefit of this scenario. Side-by-side, transdermal manufacturers have developed capabilities to customize products according to client’s necessities. Improvement of transdermal patch technology is also expected to place as material science and associated fields are also developing. These observations suggest that US transdermal patch market will offer several commercialization opportunities. In this way, US transdermal patch segment shows progress at every level reflecting that this segment is expected to grow several folds in coming years.
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