The global transdermal patch market, valued at $7.8 billion in 2023, is projected to reach nearly $10.95 billion by 2030, with pain patches leading this expansion. This growth addresses critical healthcare challenges by offering safer alternatives to traditional opioid use and managing chronic pain in aging populations. Nutriband Inc. (NASDAQ: NTRB) is advancing this field with its AVERSA Fentanyl patch, designed to deter abuse, misuse, and accidental exposure. The company estimates this product could achieve peak annual US sales between 80 million and 200 million dollars, highlighting its potential market impact.
Other pharmaceutical firms are contributing significantly to this evolving landscape. Collegium Pharmaceutical, Inc. (Nasdaq: COLL) has demonstrated consistent revenue growth, driven by products like its ADHD medication Jornay PM and chronic pain medications including Belbuca, Xtampza ER, and the Nucynta franchise, all posting significant year-over-year growth. Meanwhile, Assertio Holdings, Inc. (Nasdaq: ASRT) is streamlining operations to focus on high-potential assets, with products such as Rolvedon and Sympazan reportedly outperforming expectations. These strategic moves underscore the industry's shift toward more targeted and efficient pain management portfolios.
Innovation in drug delivery extends beyond patches. Aquestive Therapeutics, Inc. (Nasdaq: AQST) is advancing novel delivery technologies, with its Anaphylm™ oral sublingual film for severe allergic reactions nearing FDA approval. This development represents another facet of the broader movement toward alternative administration methods that enhance safety and efficacy. Together, these companies exemplify the innovative approaches being taken to meet growing demand for safer, more effective pain management solutions. Their efforts mark a pivotal shift in the pharmaceutical industry's approach to drug delivery and patient care, moving away from reliance on traditional opioids toward technologies that mitigate risks and improve outcomes for patients with chronic conditions.
