SKVI Topical Drug Delivery System Set to Enjoy New Licensing Opportunities
- Proven patented polymer drug delivery technology
- Global topical drug delivery market set for CAGR of 9.2% over next 7 years
- Strategy to derive revenues from royalties and other licensing fees
Skinvisible, Inc. (OTCQB: SKVI
) is set for a business renaissance in the coming years. The Nevada-based Company, which develops topical, transdermal and mucosal polymer-based drug delivery systems and formulations that incorporates its patent-pending technology for combining hydrophilic and hydrophobic polymer, is a player in an industry poised to double in size over the next seven years. A new market research report estimates the global topical drug delivery market will grow at a CAGR of 9.2% from USD 101.7 billion in 2016 to reach USD 205.1 billion by 2024. This is good news for Skinvisible, which derives part of its revenues from royalties and other product licensing fees. The Company is already having success in this area. It has announced a number of licensing agreements. As the global topical market continues its robust growth, Skinvisible’s licensing business appears more than skin deep.
The glowing Global Topical Drug Delivery Market 2017-2024 report by Data Bridge Market Research details some of the factors expected to drive market growth (http://nnw.fm/o7mJx
). In some instances, topical technologies have exhibited superior therapeutic outcomes, by improving the delivery of active ingredients to a targeted site, in responding to inter-and intra-patient differences without fluctuations in drug levels, and in higher levels of patient compliance.
Although the Data Bridge survey covered all skin-administered delivery systems, the term “topical” is also applied more narrowly to a medication intended to have an effect at the site of application. Such topical applications typically do not result in significant drug concentrations in the blood and other tissue and cause fewer adverse reactions. They are contrasted with transdermal medications, which are absorbed through the skin or mucosal membranes, and are intended to have an effect in areas of the body away from the site of application. Transdermal administration is an excellent method to use when a patient is unable to swallow or for medications that are significantly metabolized by the liver, and is frequently utilized for anti-nausea drugs, hormone replacement therapy, and generalized pain. In addition to these technical factors, an increasing aging population and the growing prevalence of skin related ailments will undoubtedly contribute to topical market growth. With such rapid market expansion in the offing, drug marketers will have to rely on R&D companies like Skinvisible and their novel delivery technologies.
The backbone of Skinvisible’s licensing strategy is its Invisicare® technology, which is now truly time-tested after 15 years’ utilization in developing a portfolio of over 40 prescription, over-the-counter (OTC) and cosmeceutical products. Invisicare is a high performance polymer technology that improves how products are delivered to the skin. It improves the release of active ingredients, increases the binding of the product to the skin, improves the stabilization of ingredients and can improve efficacy, safety and consumer satisfaction. Skinvisible’s Invisicare technology enjoys comprehensive patent protection. A prescription dermatology product can generate $100 million or more a year.
For more information, visit the company’s website at www.Skinvisible.com