Global Topical Drug Delivery Market Segmentation, By Product (Semi-Solid Formulations, Liquid Formulations, Solid Formulations, Transdermal Products), Route of Administration (Dermal Drug Delivery, Ophthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, Nasal Drug Delivery), Distribution Channel (Direct Tenders, Retail), End-User (Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Others) – Industry Trends and Forecast to 2031.
Topical Drug Delivery Market Analysis
According to a study titled 'National, regional and worldwide epidemiology of psoriasis, in May 2020, the incidence of psoriasis in adults was predicted to be around 30.3 per 100,000 person-years in Taiwan and about 321.0 per 100,000 person-years in Italy. The prevalence of skin diseases is expanding at a quicker rate, and it is becoming a global problem. The enormous burden associated with the various skin diseases and conditions makes the drug administration highly crucial, which is why the topical drug delivery market is positively impacted by increased prevalence of skin conditions. As a result, the market is estimated to show lucrative growth over the forecasted period.
Topical Drug Delivery Market Size
Global Topical Drug Delivery Market size was valued at USD 116.30 billion in 2023 and is projected to reach USD 198.33 billion by 2031, with a CAGR of 6.9% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Topical Drug Delivery Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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Johnson & Johnson Private Limited (U.S.), Nestlé India Ltd.(Switzerland), Novartis AG (Switzerland), GlaxoSmithKline plc(U.K), Bausch Health Companies Inc., (Canada), Merck & Co Inc., (U.S.), Bayer AG (Germany), Hisamitsu Pharmaceutical Co.,Inc. (Japan), Glenmark Pharmaceuticals Limited, (India), Cipla Inc., (India), Crescita Therapeutics (Canada), Mylan N.V. (U.S.), Encore Dermatology, (U.S.), LEO Pharma A/S (Denmark), Almirall, S.A (Spain), Aclaris Therapeutics, Inc. (U.S.), Taro Pharmaceutical Industries Ltd. (U.S.), Teligent (U.S.), Perrigo Company plc (U.S.), Allergan (Ireland), Biofrontera, AG (U.S.), Crown (U.S.), Akorn Operating Company LLC. (U.S.), Ingenus (U.S.), and Sun Pharmaceutical Industries Ltd. (India)
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Market Opportunities
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Topical Drug Delivery Market Definition
The topical medication delivery is recognized to be one of the most effective methods of drug delivery owing to its optimal therapeutic benefits. The desired therapeutic effect and the unwanted adverse effect of a medicine are both determined by the drug's concentration at the site of action. The medicine's concentration is determined by the dosage form and the extent of drug absorption at the site of action.
Topical Drug Delivery Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increasing Incidences Of Targeted Diseases
The increasing incidences of skin infections such as eczema, psoriasis, and minor ailments including acne are the most significant factors driving the growth for this market. Moreover, the increasing incidences of burn injuries, prevalence of diabetes and eye diseases, and the extensive use of the drugs to treat diabetic neuropathic pain and foot ulcers are also expected to accelerate the market's overall growth.
- Benefits of Transdermal Route
One of the emerging trends in the topical drug delivery market is the delivery of biologics through the transdermal route. The use of transdermal delivery of big molecules offers considerable patient benefits such as painless medication delivery and cost-effective treatment. This factor is projected to bolster the growth of the market.
Furthermore, the preference towards administration of drugs through the skin to control or prolong drug delivery and the use of this process as an alternative to the oral route are also expected to fuel market growth. Moreover, the system's ease of use combined with the increasing requirement for self-administered drugs also cushions the market's growth within the forecasted period.
Opportunities
- Growing Approvals And Self-Administration
Moreover, the rise in demand for self-administration and home care and rising rate of blood donations are estimated to generate lucrative opportunities for the market. The growing number of product approvals for skin-related drug delivery systems will further offer numerous growth opportunities for the market.
Restraints/Challenges
- Availability of Alternatives
There are various alternative drug delivery modes available for the patients. The preference for alternative modes of drug delivery and product recalls due to drug failure is expected to obstruct market growth.
- Technical Barriers
Also, the technical barriers associated with the skin irritation and permeability are projected to challenge the topical drug delivery market in the forecast period of 2024-2031.
This topical drug delivery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the topical drug delivery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Topical Drug Delivery Market
The topical drug delivery market was largely impacted by the outbreak of COVID-19. The imposition of the social distancing and travel restrictions by the government to curb the COVID-19 pandemic outbreak, led to halt of various operations which led to emergence of various challenges, such as supply chain disruptions, stifling business growth, suspensions of new developments, temporary lockout of production sites in locations and has affected the overall production and sales. Moreover, the raw materials essential for making medications (such as drug and manufacturing equipment) are at risk of a supply shortage, leading to limited industry expansion.
On the brighter side, the global economy is predicted to gradually normalize, with an increase in the manufacturing and transportation of raw materials and associated equipment, resulting in market growth. As a result of the alarming increase in COVID-19 cases, there is a greater need for enhanced patient treatment, and the use of medications like vitamin C, multivitamins, and antivirals to boost immune levels has increased. Also, the drugs are being stored by various end users and patients due to COVID-19's rapid expansion and rising panic. This is likely to improve the topical medication delivery market's growth. Various companies had a rise in sales. AbbVie, for example, saw a 16.8 percent gain in sales over this time period. Similarly, Amgen reported sales of USD 6,161 million in the first quarter of 2020, up 11% from the first quarter of 2019. (USD 5,286 million).
Topical Drug Delivery Market Scope
The topical drug delivery market is segmented on the basis of product, route of administration, distribution channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Semi-Solid Formulations
- Liquid Formulations
- Solid Formulations
- Transdermal Products
On the basis of product, the topical drug delivery market is segmented into semi-solid formulations, liquid formulations, solid formulations and transdermal products. Semi-solid formulations are further segmented into creams, ointments, lotions, gels and pastes. Liquid formulations are further segmented into solutions and suspensions. Solid formulations are further segmented into powders and suppositories. Transdermal products are further segmented into transdermal patches and transdermal semi-solids. The semi-solid formulations registers the largest market share owing to the easy application of semi-solid formulations along with their ability to deliver a wide variety of drug molecules, which leads to high demand for it among end users.
Route of Administration
- Dermal Drug Delivery
- Ophthalmic Drug Delivery
- Rectal Drug Delivery
- Vaginal Drug Delivery
- Nasal Drug Delivery
On the basis of route of administration, the topical drug delivery market is segmented into dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery and nasal drug delivery.
Distribution Channel
- Direct Tenders
- Retail
On the basis of distribution channel, the topical drug delivery market is segmented into direct tenders and retail.
End User
- Hospitals
- Clinics
- Home Healthcare
- Diagnostic Centers
- Others
On the basis of end user, the topical drug delivery market is bifurcated into hospitals, clinics, home healthcare, diagnostic centers and others.
Topical Drug Delivery Market Regional Analysis
The topical drug delivery market is analyzed and market size insights and trends are provided by country, product, route of administration, distribution channel and end user as referenced above.
The countries covered in the topical drug delivery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the topical drug delivery market because of the presence of large number of pharmaceutical companies and drug delivery technology providers within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the surge in geriatric population and the surge in disposable income of the people within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The topical drug delivery market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for topical drug delivery market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the topical drug delivery market. The data is available for historic period 2010-2020.
Topical Drug Delivery Market Share
The topical drug delivery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to topical drug delivery market.
Topical Drug Delivery Market Leaders Operating in the Market Are:
- Johnson & Johnson Private Limited (U.S.)
- Nestlé India Ltd., (Switzerland)
- Novartis AG (Switzerland)
- GlaxoSmithKline plc (U.K)
- Bausch Health Companies Inc., (Canada)
- Merck & Co Inc., (U.S.)
- Bayer AG (Germany),
- Hisamitsu Pharmaceutical Co., Inc. (Japan)
- Glenmark Pharmaceuticals Limited, (India)
- Cipla Inc., (India)
- Crescita Therapeutics (Canada)
- Mylan N.V. (U.S.)
- Encore Dermatology, (U.S.)
- LEO Pharma A/S (Denmark)
- Almirall, S.A (Spain)
- Aclaris Therapeutics, Inc. (U.S.)
- Taro Pharmaceutical Industries Ltd. (U.S.)
- Teligent (U.S.), Perrigo Company plc (U.S.)
- Allergan (Ireland)
- Biofrontera, AG (U.S.)
- Crown (U.S.)
- Akorn Operating Company LLC. (U.S.)
- Ingenus (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
Latest Developments in Topical Drug Delivery Market
- In February 2021, Almirall S.A., a worldwide biopharmaceutical company pioneering a new standard in topical medicines for autoimmune and chronic inflammatory disorders, announced that MC2 Therapeutics has granted Almirall exclusive European rights to market Wynzora® Cream for plaque psoriasis therapy. In exchange, MC2 Therapeutics will be eligible for a EUR 15 million upfront payment, as well as significant sales milestone payments and double-digit royalties on Wynzora Cream sales in Europe
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