US Transdermal Patch Market Opportunity and Clinical Trials Insight 2028 Report Highlights:
Transdermal drug delivery which involves the delivery of drug into the systemic circulation across the skin has attracted physicians as well as patients owing to their several conferred advantages. These provide a specific, predetermined dose of medication which is absorbed through the skin into the bloodstream. In addition, it also improves patient compliance; eliminate the hepatic first pass, and degradation in gastrointestinal tract. Over the last 30 years, many transdermal products have been launched in the US market and the demand has been grown as more and more example of successful treatment enters the mainstream.
These patches deliver drugs tropically, where they are absorbed by the skin and into the bloodstream. These provide a consistent delivery of small amounts of a drug into the bloodstream over a long period of time. The length of wear time and the amount of drug delivered is different from patch to patch. To date, around 30 transdermal patches have entered the US market which is indicated for the management of wide range of diseases including cardiovascular diseases, neurological disorders, hormonal therapy, and other therapeutic conditions. Apart from this, several others are present in clinical trials, which are expected to enter the market during the forecast period.
As with any drug delivery system, there exists the potential for side effects with transdermal patches also which restrains their growth in market. The most likely side effect of a transdermal patch is irritated skin. Some wearers may have sensitive skin, making them more vulnerable to a reaction. Sensitivity can also result from the drug itself or the dose being too high. Apart from this, the high cost associated with the development of novel drug patch combination is anticipated to limit the investments in transdermal patches.
The US transdermal skin patch market is moderately competitive and the key players are focused on the adoption of various strategies including product innovation, product launches, and approvals. In addition, companies have also adopted collaboration, merger, and acquisitions as their development strategies to sustain the competitive environment in market. For instance, Canoa, a Delaware-based healthcare and pharmaceuticals company, had acquired ProSolus to enhance its position and development of new products in the transdermal space. The rising research and development activities in this field will propel the growth of market.
As per our report findings, the US transdermal patch market is expected to reach US$ 9 Billion by 2028. Increasing demand for painless drug delivery, coupled with rising demand for self-administration of drugs, is anticipated to fuel market growth. The market is also propelled by ongoing technological advancements in the field. Smart patches, for instance, allow auto-injection of medication and help in monitoring various body parameters. They also enable the transmission of patient-generated data, thereby improving timing and accuracy of drug administration. Furthermore, rising collaboration between pharmaceutical companies and drug delivery firms and rising self-administration and home care drug delivery systems will further create new opportunities for transdermal patch market in the forecasted period of 2022-2028.
The report US Transdermal Patch Market Opportunity and Clinical Trials Insight 2028 provides detailed analysis on the approved marketed products along with their price, dosage, and patch availability. The insights into ongoing clinical trials by company, drug class, indication, and phase are also reported. The major players covered in the US transdermal patches market report are AbbVie, Amneal Pharmaceuticals, Cumberland Pharmaceuticals, Glaxosmithkline, Hisamitsu Pharmaceutical and several others. On the basis of indication, the market opportunity is segmented into Alzheimer, Parkinson, Nicotine Replacement Therapy, Insulin, Vaccine, and Cardiovascular Disease.