Technological progress is continuously increasing allowing pharmaceutical companies to develop newer products with higher pharmacological benefits. Transdermal patches are extension of their continuous efforts due to which several patients have been able to improve quality of life. This market segment has yet to be tapped as only few disease indications are being covered under their treatment. Pharmaceutical companies are increasing their investments in research and development segment to introduce novel products in market. Significant progress has been made in past several decades giving rise to presence of myriad of products in global market. They are far better than their predecessors and coming products are expected to be better than existing transdermal patches. As a result, more number of patients are expected to be opting for transdermal patches in their therapeutic regime.
Utilization of transdermal patch varies from region to region due to which their market is diffused in nature. In both industrially developed and under developed countries their consumption is increasing significantly in past few years. US is one of the largest transdermal patch market across the globe followed by Europe. Investment in research and development allows the continuous entry of new products in US market due to which it has largest market shares across the globe. It is pioneer in this field and first patch was introduced in 1979 to treat motion sickness after its wide spread acceptance patches for angina, high blood pressure and hormone replacement therapy were introduced in US market. Over the year newer categories like smoking cessation, pain management, Parkinson’s disease, Alzheimer’s disease, ADHD and may others disease indications were added resulting in increased market size.
Clinical pipeline for transdermal patches is becoming strong and various novel therapeutics are at different stages of clinical trials which would enter in market in coming years. It is happening because pharmaceutical companies have identified their commercial potential due to which they are investing more toward research and development segment. Orally administrated drugs are not suitable for all patients as they have gastric reflex problem or may have other gastrointestinal diseases due to which bioavailability is limited. On the other, in blood they may interact with other substance causing reduced pharmacological effects. All these problems are not encountered by patients using the transdermal patches.
New principles are being deciphered and increasing emphasis on including more diseases treatment by transdermal patches is imperative for better health. Owing to increasing disease incidences, it has become necessary to take necessary steps to introduce innovative transdermal patches in global market. Oncology and autoimmune diseases are still untouched by them due to which significant opportunities are left untapped. Technological advancements may allow the investigators to develop products having high safety and efficacy levels along with minimized side effects but it will take some time. On the other hand, nicotine patches and female contraceptive patches are highly developed and forms largest categories of transdermal patch segment. Disease indications will be increased in coming years and advancements in polymer science is expected to increase the innovation rates. With all these developments, the future of transdermal patch market seems to be optimistic.
“Transdermal Patch Market & Pipeline Insight 2015” Report Highlights: