Prescription drug patches will experience healthy global unit growth throughout the remainder of the decade, but increasing generic competition will put continual pressure on revenue, according to a new market study researched and written by Greystone Research Associates.
As the worldwide population ages, several treatable disease segments will grow at an increasing rate, providing the pharmaceutical sector with attractive business opportunities. First and foremost among these will be the need for therapeutic products that can effectively and safely address chronic pain, metabolic disorders and cognitive impairment.
The pain market will be driven by the morbidity associated with cancer and joint conditions such as osteoarthritis. Pain is now viewed as an important and treatable element of modern patient care. Several factors are now converging to create opportunities for pain management products that address the overlapping needs of caregivers, underwriters, and patients.
The number of patients with diseases associated with neurological decline is expected to expand dramatically as life expectancy increases. These patients are often faced with challenges that include compromised cognition and diminished dexterity that make it difficult to adhere to drug protocols based on oral or injectable formulations. Drug patches present the opportunity to mitigate these impediments.
Transdermal patches have already established a presence for conditions associated with metabolic rate changes and/or endocrine conditions. These include the treatment of vasomotor symptoms associated with menopause, osteoporosis, and hormone deficiency. Aging populations are expected to drive the number of patients with treatable forms of these conditions higher.
These findings are contained in a new market report Transdermal Drug Patches to 2020. The report analyzes transdermal drug products, provides assessments of key market segments, examines important market factors and profiles market participants.
Greystone Research Associates (greystoneassociates.org) is a medical technology consulting firm focused on the areas of medical market strategy, product commercialization, venture development, and market research. We assist medical and healthcare market participants in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and financial targets.