NEW YORK, Jan. 23, 2017 /PRNewswire/ -- Transdermal drug delivery is one of the oldest methods that have been used by physicians to alleviate patients medical condition. Patches are recent inventions of pharmaceutical companies for those patient populations who can't be administered with conventional drugs. They are applied over the skin from which drug is released in controlled manner followed by entry into the body. Topical drugs are also applied on skin but their effect is local and they do not become systemic. Over the years, several modalities for transfer of insulin have been developed by investigators. They have several benefits but they are not as beneficial as insulin patches due to limited number of pharmacological and commercial benefits. Insulin patches are new extension in the field of transdermal patches which are still under development.Insulin patch development and commercialization is a challenging process along with high enthusiastic levels due to their novelty. Numerous patches containing different formulations for different indications have been introduced in global market. First patch was introduced in late 1970s so this market segment could be considered as emerging entity as compared to other disease categories. Despite this fact, they have made significant progress due to technological advancements which allows them to offer superior pharmacological benefits. They are available for limited number of indication due to which large unmet medical necessities have yet to be fulfilled. This situation shows significant marketing opportunities in this segment as there is lack of competition and several indications are left for churning significant revenues. Diabetes segment also falls in such category which has yet to be explored and pharmaceutical companies have increased their efforts to come forth with effective insulin patches.Highly advanced technology like ultrasound and iontophoresis are being used for the development of modern insulin patches. Depending upon the type of technique, their prices may vary which may be out of reach of several patients. In long-term, it would be considered as inexpensive but high upfront cost may deter some diabetic patients. Benefits like greater control over blood glucose levels and ease of utilization are one of the most significant benefits of these technologies. It is expected that investigators would also explore the techniques like electroporation, thermal ablation and microdermabrasion for making insulin patches. These techniques are expected to increase the cost effectiveness due to which their market penetration would increase. In coming years, it is expected that investigators would be able to come forth with insulin patches having higher pharmacological benefits with lesser prices. Besides this, newer modalities are also expected to be developed due to which more sales are expected to be generated.Development of insulin patches are expected to pave the path for the development of large molecule based transdermal patches. This is going to be a major technological success due to which large number of patients would get more therapeutic benefits. Due to increased indications, more revenues are expected to generate from this field. Both molecules and formulations have to be revisited that will lead to new innovations. Moreover, pharmaceutical companies engaged in the production of insulin patches may venture in other diseases segment by using same technology. Insulin patches have yet not made place in global market but they will definitely encourage the other pharmaceutical companies to follow the lead. Pharmaceutical companies are expected to launch the first insulin patch in global market in next few years." Global Insulin Patch Market Opportunity Analysis" Report Highlights: Introduction to Insulin PatchMechanism Iontophoresis, Ultrasonic & Microneedle Insulin PatchGlobal Insulin Patch Market AnalysisGlobal Insulin Patch Clinical Pipeline by Company, Indication & PhaseGlobal Insulin Patch Clinical Pipeline: 9 PatchesHighest Phase of Insulin Patch Development: Phase-IIInsulin Patch Patent AnalysisRead the full report: http://www.reportlinker.com/p04397223-summary/view-report.htmlAbout Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.http://www.reportlinker.com__________________________Contact Clare: [email protected]US: (339)-368-6001Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-insulin-patch-market-opportunity-analysis-300395116.html
SOURCE Reportlinker
