Topical Drug Delivery - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Topical Drug Delivery Market is accounted for $96.99 billion in 2020 and is expected to reach $184.92 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Increasing incidences of skin infections, growing prevalence of diabetes and rising incidences of eye diseases are driving the market growth. However, preference for alternative modes of drug delivery and product recalls due to drug failure are hampering the growth of the market.
Topical drug delivery is a drug substance used more specifically to an affected site, without any change in drug levels, offers better compliance, and it is highly suitable for self-medication. Topical drug delivery is one of the most effective ways of drug delivery owning to its optimum therapeutic results. The delivery of drug substance is easy through skin, as skin provides a perfect site for local as well as systemic results.
Based on the product, the semi-solid formulations segment is going to have lucrative growth during the forecast period as semisolids are the most popular formulations and easy application of semi-solid formulations and their ability to deliver a wide variety of drug molecules is resulting in a stable demand for this segment among end users. By geography, Asia Pacific is going to have high growth during the forecast period owing to the high incidence of skin diseases (such as skin cancer), increasing use of contraceptives, and the growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems.
Some of the key players profiled in the Topical Drug Delivery Market include Teligent, Inc., Akorn Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Perrigo, Novartis, Allergan, Inc., Mylan, Bayer, LEO Pharma, Taro Pharmaceutical Industries Ltd., Ingenus Pharmaceuticals, Hisamitsu Pharmaceutical Co., Inc., Glenmark Pharmaceuticals, Crescita Therapeutics, Encore Dermatology, Crown Laboratories, GlaxoSmithKline, Cipla, Biofrontera, Johnson & Johnson, Bausch Health, Almirall, Merck & Co. and Aclaris Therapeutics.
• Liquid Formulations
• Solid Formulations
• Semi-Solid Formulations
• Transdermal Products
Route of Administrations Covered:
• Vaginal Drug Delivery
• Rectal Drug Delivery
• Ophthalmic Drug Delivery
• Nasal Drug Delivery
• Dermal/Skin Drug Delivery
• Soft & Elastic Braces and Supports
• Hard & Rigid Braces and Supports
• Hinged Braces and Supports
Facility of Uses Covered:
• Home Care Settings
• Hospitals and Private Clinics
• Burn Centers
• Other Facilities
Distribution Channels Covered:
• Direct Tenders
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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