Rise of transdermal drug delivery technologies
applications and the facility to deliver proteins, peptides, and
large molecules is expected to rake in market revenues, according
to a new report from market analysts Frost & Sullivan.
The launch of newer technology products with a wide range of applications and the facility to deliver proteins, peptides, and large molecules is expected to rake in market revenues, according to a new report from market analysts Frost & Sullivan.
New analysis published in 'U.S. Emerging Transdermal Drug Delivery Technologies Markets', reveals that this market generated revenues worth $1.57 billion in 2002 and is likely to reach a staggering $5.67 billion in 2009.
Although the active transdermal systems have been passing through the developed phase for a long time, the pharmaceutical industry is still unsure of the approval of these technologies, and this uncertainty has kept the industry guessing and confused, continues the report.
"Transdermal drug delivery, never a frontrunner when compared to other emerging modes of drug delivery, is gaining rapid acceptance, and is second only to pulmonary drug delivery," commented Frost & Sullivan industry manager Ajit Baid.
Currently, market growth is fuelled by the launch of new products within existing applications such as hormone replacement and pain management therapies.
The introduction of AndroGel, the first transdermal testosterone gel, has resulted in unprecedented growth of this segment in a short span of time, clearly demonstrating the available market potential.
"As gel products and improved conventional patches are increasingly introduced in the market, offering key advantages or addressing unmet needs, there will be a significant market expansion and steep raise in prescription costs," added Baid.
However, the report highlights the fact that market participants are facing temporary setbacks due to the reluctance of the Food and Drug Administration to grant approval for some of the potential products. Long development time, difficulty in conducting clinical trials, and the need for adequate resources are also restricting market progress.
There is a growing demand for transdermal drug delivery reflected by the substantial increase in the number of users and increasing drug evaluations by companies. Frost & Sullivan claims that the key to future growth will be the extension of technology to cover more number of drugs, the failing of which, companies will be hard-pressed for market expansion.
Frost & Sullivan will hold this conference call at 2:00 pm (CDT) / 3:00 pm (EDT) on Thursday, May 15, 2003, which will provide industry participants an overview of the U.S. Emerging Transdermal Drug Delivery Technologies Markets. To participate, please email Danielle White at dwhite@frost.com with the following information: Name, Company, Title, Telephone Number, and email. Upon receipt of the above information, a confirmation/pass code will be emailed to you.Frost & Sullivan is a global leader in strategic growth consulting and training. This ongoing growth opportunity analysis is part of the Pharmaceuticals Monitor Service, which also includes market insights on the U.S. Critical Care Antibiotics Markets and the U.S. Emerging Pulmonary Drug Delivery Therapies Markets. Frost & Sullivan also offers custom growth consulting to a variety of national and international companies. Interviews are available to the press.
