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Topical Drug Delivery Market Forecast by 2026 Analysis by Galderma S.A., GlaxoSmithKline, Valeant Pharmaceuticals International, Crescita Therapeutics, Medpharm, 3M, Bayer AG, Novartis AG, Janssen Global Services, Others

Global Topical Drug Delivery Market By Product Type (Formulations,( {Topical (Solid, Liquid, Semi-Solid), Transdermal (Patches, Gels)}), Application of Drug (Skin Drug, Ophthalmic Drug, Rectal Drug, Vaginal Drug, Nasal Drug), End-User (Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Others); Distribution Channel (Direct Tenders, Retail);Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026

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Market Analysis: Global Topical Drug Delivery Market

Global Topical Drug Delivery Market is expected to rise from its initial estimated value of USD 120.82 billion in 2018 to an estimated value of USD 240.76 billion by 2026, registering a CAGR of 9.00% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing  preference for topical drug delivery.

Market Definition: Global Topical Drug Delivery Market

Topical drug delivery is one of the most effective ways of drug delivery as it gives optimum therapeutic outcomes. Gradually, the topical drug delivery system has become increasingly important in the pharmaceutical industry. The pharmacological response, both the desired therapeutic effect and the undesired unfavourable effect of a drug is dependent on the concentration of the drug at the place of action, which in turn depends upon the dosage form and the extent of absorption of the drug at the site of action.

According to World Health Organization, there were an estimated 9.6 million deaths in 2018 due to cancer; Cancer is the second leading cause of death globally. About 1 in 6 deaths is due to cancer. These deaths could have been avoided with the availability of proper medical for healthcare procedures. This significant number is expected to act as a driver to the market growth

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Market Drivers

  • There is high demand for prevalence of skin diseases is expected to act as a driver to the market growth
  • High growing preference for topical drug delivery is also expected to act as a driver to the market growth
  • There is increase in incidence of burn injuries is also expected to act as a driver to the market growth
  • Rising incidence of diabetes is also to drive the market

Market Restraints

  • Negative impact of product recalls is expected to restrain the market growth.

Segmentation: Global Topical Drug Delivery Market

By Product Type

  • Topical
    • Solid Topical Formulations
      • Suppositories
      • Powders
    • Semi-Solid Topical Formulations
      • Creams
      • Gels
      • Ointments
      • Pastes
      • Lotions
    • Liquid Topical Formulations
      • Solutions
      • Suspensions
    • Transdermal
      • Patches
      • Gels

By Application of Drug

  • Skin Drug
  • Ophthalmic Drug
  • Rectal Drug
  • Vaginal Drug
  • Nasal Drug

By End User

  • Hospitals and Private Clinics
  • Home Care Settings
  • Other

By Distribution Channel

  • Direct Tenders
  • Retail

By Geography

  • North America
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Turkey
    • Belgium
    • Netherlands
    • Switzerland
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
    • Singapore
    • Thailand
    • Malaysia
    • Indonesia
    • Philippines
    • Rest of Asia Pacific
  • Middle East & Africa
    • South Africa
    • Egypt
    • Saudi Arabia
    • United Arab Emirates
    • Israel
    • Rest of Middle East & Africa

 

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Key Developments in the Market:

  • In December 2018,Aclaris Therapeutics Acquired RHOFADE® from Allergan. RHOFADE cream was approved by the U.S. Food and Drug Administration (FDA) in 2017 for the topical treatment of persistent facial erythema (redness) associated with rosacea in adults. By this acquisition Aclaris to further strengthen itself in topical treatments.
  • In December 2018, Sun Pharma acquires Pola Pharma’s two manufacturing plants. Pola Pharma is a topical drug and injectables manufacture in Japan. By this acquisition sun Pharma to further strengthen its presence in Japan.

Competitive Analysis: Global Topical Drug Delivery Market

Global topical drug delivery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of topical drug delivery market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Topical Drug Delivery Market

Few of the major competitors currently working in the nerve repair biomaterial market are

  • Galderma S.A. (Switzerland),
  • GlaxoSmithKline plc. (U.K.),
  • Valeant Pharmaceuticals International, Inc. (Canada),
  • Crescita Therapeutics Inc. (Canada),
  • Medpharm (U.K.),
  • 3M (U.S.),
  • Bayer AG (Germany),
  • Novartis AG (Switzerland),
  • Janssen Global Services, LLC (U.S.),
  • Cipla Inc. (India),
  • West Pharmaceutical Services ,Inc (US),
  • Biofarmitalia s.r.l (Italy),
  • Pharmatek Laboratories, Inc. (US),
  • Stiefel Laboratories, Inc. (US),
  • Tapemark (US),
  • Acrux Limited (Australia),
  • Nitto Denko Corporation (Japan),
  • Skinvisible Pharmaceuticals, Inc. (us),
  • Mylan N.V. (US),
  • Pocono Coated Products LLC (US),
  • Lohmann Therapie-Systeme AG (Germany).

Reasons to Purchase this Report

  • Current and future of global topical drug delivery market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

  • All segmentation provided above in this report is represented at country level
  • All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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