Global Topical Drug Delivery Market was valued at USD 101.77 billion in 2021 and is expected to reach USD 173.55 billion by 2029, registering a CAGR of 6.9% during the forecast period of 2022-2029.
The Topical Drug Delivery Market report is bifurcated into several attributes which include manufacturers, region, type, application, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the report as required to describe the topic and provide maximum information for better decision making. Topical Drug Delivery Market report also provides an exhaustive analysis of geographical scenario of the Topical Drug Delivery Market industry including detailed analysis of market scope, share, year on year development and opportunity analysis about the major regions.
With this business research document, get answers to several market related queries such as what is the overall market size in 2022? Which region is expected to have a high demand for a product in the forthcoming years? What are the market openings for current and entry-level players? The report performs market competition by top manufacturers, with respect to production, price, revenue (value) and each manufacturer. The research studies of this Topical Drug Delivery Market report helps to evaluate several important parameters that can be mentioned as investment in a rising market, success of a new product, and expansion of market share.
Topical Drug Delivery Market Scope and Market Size
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.
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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.
The report answers questions such as:
1) What is the market size and forecast of the Topical Drug Delivery Market?
2) What are the inhibiting factors and impact of COVID-19 shaping the Topical Drug Delivery Market during the forecast period?
3) Which are the products/segments/applications/areas to invest in over the forecast period in the Topical Drug Delivery Market?
4) What is the competitive strategic window for opportunities in the Topical Drug Delivery Market?
5) What are the technology trends and regulatory frameworks in the Topical Drug Delivery Market?
6) What is the market share of the leading vendors in the Topical Drug Delivery Market?
7) What modes and strategic moves are considered suitable for entering the Topical Drug Delivery Market?
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Topical Drug Delivery Market Country Level 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.
Key Players- Topical Drug Delivery Market
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.
Some of the major players operating in the topical drug delivery 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)
MAJOR TOC OF THE REPORT
· Chapter One: Introduction
· Chapter Two: Market Segmentation
· Chapter Three: Market Overview
· Chapter Four: Executive Summary
· Chapter Five: Premium Insights
· Chapter Six: Topical Drug Delivery Market by product type, Application, Form, End User and distribution channel.
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