Global Transdermal Patch Market, Dosage, Price & Clinical Trials Insight 2028 Report Highlights.
Global Transdermal Patch Market, Dosage, Price & Clinical Trials Insight 2028 Report Highlights:
- Research Methodology
- Global & Regional Transdermal Path Market Outlook
- Global Transdermal Patch Market Opportunity > USD 20 Billion
- Clinical Trials Insight By Company, Indication, Drug Molecule & Phase
- Comprehensive Insight On 60 Transdermal Patch Available Commercially
- Comprehensive Insight On 80 Transdermal Patch In Clinical Trials By Phase
- Transdermal Patch Dosage & Price Availability By Indication
- Competitive Landscape
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https://www.kuickresearch.com/report-global-transdermal-patch-market
Transdermal drug delivery is a novel method of delivering drug formulation onto intact and healthy skin. The novel drug delivery method offers an attractive alternative in comparison to oral and other systemic routes of delivery in being non-invasive, convenient, and painless method of drug delivery. Additionally, transdermal patches can be easily discontinued if the need arises, making them safer to use. The introduction of transdermal patches has shown high adoption rates in the management of several chronic diseases. The rising sales of transdermal patches are propelling the growth of market from past few years.
The increased interest from the pharmaceutical companies can be justified by the development of strong clinical pipeline of transdermal patches. For instance, there is high demand for self-administration of drugs for diseases requiring long-term treatment, such as in patients with diabetes. In the case of diabetes, insulin has to be administered into the patient’s body with the help of injections in a continual manner. The frequent use of injections to deliver insulin causes pain and increase the risk of infection transmission. Recently in 2022, Pakistani researchers have created country’s first insulin patches for diabetic patients. Apart from this, researchers have also developed minimally invasive smart patches can continuously monitor glucose blood levels and administer insulin as needed.
It has been observed that majority of patents related to transdermal patches have been expired which has led to introduction of several cost effective generic transdermal patches in the market. Some of the widely used therapeutics like nitroglycerine for angina, components of hormone replacement therapy, pain management, hypertension and various other transdermal patches are available in global market. They are more cost effective then their branded counterpart due to which they are expected to generate more revenues. Apart from this, the patent expiration also increases the competition among the pharmaceutical companies to maintain their share in the global market.
The global market is fragmented into nature with a large number of key players operating worldwide. These companies are making efforts to deliver pocket-friendly, therapeutic effective and smart patches. Key players such as 3M Pharmaceutical, Purdue Pharmaceutical, Sanofi, Novartis, Nupathe, Corium International, Allergan, Ipsen Bioscience and other prominent players play a huge role in bringing up novel and technology advanced transdermal patches in the market. Further, merging, acquisition, and collaboration between the local and multinational players also contribute in healthy market competition.
In 2021, US held the maximum share in the global market. The growth in this region is majorly driven by patent expirations, resulting in more companies entering the market. Further, development of favorable reimbursement policies and rising initiative by government to launch new products in the market also [propels the growth of market in region. For instance, US FDA has also set a Prescription Drug User Fee (PDUFA) target action date of March 11, 2022 for Corium’s new drug application (NDA) for once weekly Aldarity (donepezil transdermal system), its lead investigational product and a patch formulation of donepezil for the management of patients with dementia due to mild, moderate, or severe Alzheimer disease. The rapid drug approval, increasing awareness among population, and strategic alliances among key players will propel the growth of transdermal patches in US.
As per our report findings, the global transdermal patch market is expected to surpass US$ 20 Billion by 2028. Rise in geriatric population and upsurge in patients suffering from chronic disorders are expected to drive the growth of market. Moreover, increase in adoption and availability of transdermal patches will also boost the growth of market during the forecast period. The report provides information on the currently available transdermal patches in the market with their dosage, patent, price, and sales. In addition, the report also provides insights into ongoing clinical trials in the market and the major drugs present in research and development.
Contact:
Neeraj Chawla
Research Head
Kuick Research
+91-981410366
neeraj@kuickresearch.com
https://www.kuickresearch.com