Alliqua, Inc. (OTCQB: ALQA), a wound management and drug delivery company, is making strides to take advantage of the $142 billion drug delivery market by launching a preclinical proof-of-principal study of an experimental hydrogel transdermal patch containing lidocaine. The global drug delivery market is expected to reach $224.2 billion by the year 2017. Additionally, the global wound dressing market is expected to reach $6 billion by 2017.
The United States and Europe are the two leading geographic markets for wound dressings, with the U.S. accounting for more than one-third of the worldwide market. The U.S. is also expected to hold into its position as the global leader in the wound dressing market, as the country is expected to haul in 34.6 percent of the global wound dressing market revenue share in 2017.
The demand for advanced dressings has increased in recent years due to innovative adoptions of interactive/bioactive and antimicrobial dressings, including hydrogels. Alliqua's hydrogels are manufactured through a carefully monitored process that ensures a high product quality. The characteristics of Alliqua's hydrogels include: painless adhesion to the human body, stability of form and composition, purity, reproducibility (manufacturing high quality product on a consistent basis), compatibility with active ingredients, and high water content. The drug delivery market is showing no signs of saturation, with major patent expiries, generic competition, tightening Food and Drug Administration (FDA) regulations, and emerging drug delivery technologies continuing to drive momentum. Among the 15 drug delivery systems surveyed by Frost & Sullivan, it was revealed that physicians prefer topical delivery, either as a transdermal patch or topical gel/cream, and expressed willingness to switch their current mode of therapy to one available in these forms.
A new end-user survey of more than 220 physicians and 650 patients by Frost & Sullivan, the Drug Delivery Technology: End-User Preferences, Utilization and Perceptions analysis (http://www.lifesciences.frost.com), finds that regardless of disease area, physicians select drug delivery methods that drive consistent patient compliance and effective outcomes.
James Saperstein, chief executive officer of Alliqua Biomedical, has stated the lidocaine patch development program is just Alliqua's first step towards building a portfolio that leverages the company's hydrogel platform. The lidocaine hydrogel patches will be developed with the intent to treat localized acute pain, including post-operative pain, back pain, and pain associated with sport injuries and arthritis. Alliqua says results from this preclinical proof-of-principle study will be readily available later in the third quarter.