Topical Drug Delivery Market: Global Industry Analysis and Forecast (2024-2030) by Product, Route of Administration, Facility of Use, and Region

Topical Drug Delivery Market Overview:

A topical drug delivery system (TDDS) is a method of delivering medications to the skin for topical therapeutic effects. Pharmacists use the skin to deliver various medications because it is one of the largest and most superficial organs in the human body. This system usually has a local influence on specific body postures.

Though topical drug delivery market forecast through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.

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Topical Drug Delivery Market Dynamics:

Skin diseases such as psoriasis, eczema, skin cancer, and vitiligo continue to be the fourth-leading cause of nonfatal disease burden globally, according to the Global Burden of Disease Project, and affect a considerable proportion of the global population. According to the World Health Organization, between 2 and 3 million cases of non-melanoma skin cancer and 132,000 cases of melanoma skin cancer are detected each year. Furthermore, the global prevalence of psoriasis ranges from 0.09 percent to 11.43 percent, making it a severe global disease affecting at least 100 million people. The Topical Drug Delivery Market is expected to grow, due to rise in demand for sophisticated topical products, as topical drug administration is the first line of treatment for the majority of skin illnesses.

Patients and end users can choose from a variety of medicine delivery options. The advantages of these options over topical drug delivery are a significant impediment to the topical drug delivery market's growth. The oral route is the most popular since it is simple to use, convenient, cost-effective, and safe. Orally delivered medications can also be kept easily and are portable, cost-effective, noninvasive, and safe. In comparison to topical preparations, no additional training is necessary for the administration of these medications. Injectables, such as insulin injections for diabetics to self-administer, are also widely used.

One of the emerging trends in the topical drug delivery market is the delivery of biologics via the transdermal route. The use of transdermal delivery of big molecules instead of intramuscular, subcutaneous, or intravenous routes of administration is expected to give considerable patient benefits, including painless medication delivery and cost-effective treatment.

Topical Drug Delivery Market Segment Analysis:

Based on the Product, the market is segmented into Semi-solid Formulations, Liquid Formulations, Solid Formulations, and Transdermal Products. Semi-solid Formulations segment is expected to hold the largest market shares of xx% by 2030. The factors are due to their capacity to deliver a wide range of pharmacological molecules and the ease with which semi-solid formulations can be applied. Creams, gels, ointments, suppositories, and other topical dose forms fall into the semi-solid medication group. Consistency, dosage homogeneity, preservatives, method of administration, and formulation base are all characteristics shared by semi-solid medication formulations. These are the factors that are expected to drives the growth of this segment in the Topical Drug Delivery market during the forecast period 2024-2030.

Based on the Route of Administration, the market is segmented into Dermal Drug Delivery, Ophthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, and Nasal Drug Delivery. Dermal Drug Delivery segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Because it is more convenient and patient-friendly than other topical medication delivery methods. Dermal products are subject to less regulations than ophthalmic products, which must undergo sterility testing.

Based on the Facility of Use, the topical drug delivery market is segmented into Home Care Settings, Hospitals & Clinics, Burn Centers, and Other Facilities. Home Care Settings segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. This is due to major factors such as the ease of use and low cost of topical medicines for home administration. Furthermore, for patients who require long-term therapy, inpatient care is not only prohibitive to resuming a normal lifestyle and work activities, but it is also prohibitively expensive. In this aspect, technological improvements have aided patients in receiving therapies at home in an effective and safe manner.

Topical Drug Delivery Market Regional Insights:

North America region is expected to dominate the Topical Drug Delivery market during the forecast period 2024-2030. North America region is expected to hold the largest market share of xx% by 2030. The market is expecting positive growth as a result of the COVID-19 outbreak. This is primarily owing to the unique treatment that is currently being developed. For example, the US Food and Drug Administration authorised 'T3X,' an over-the-counter ointment created by Advanced Penetration Technology, in August 2020. It has been found to be effective against the SARS-CoV-2 virus. Due to circumstances such as the availability of a wide number of pharmaceutical businesses and medication delivery technology suppliers, research have revealed that T3X was able to eliminate the virus within 30 seconds. These are the key major drivers that are expected to drives the growth of the North America region in the Topical Drug Delivery Market during the forecast period.

Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. Topical drug delivery has been on the rise in Asia Pacific, as a result of skin diseases (e.g. skin cancer), increasing contraceptive use, and the focus of pharmaceutical companies on developing smart transdermal drug delivery systems.

The objective of the report is to present a comprehensive analysis of the Topical Drug Delivery Market to the stakeholders in the industry. The report provides trends that are most dominant in the Topical Drug Delivery Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Topical Drug Delivery Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Topical Drug Delivery Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Topical Drug Delivery Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Topical Drug Delivery Market is aided by legal factors.

Topical Drug Delivery Market Scope:

Topical Drug Delivery Market Key Players

• Johnson & Johnson (US)
• Nestlé SA (Switzerland)
• Novartis AG (Switzerland)
• GlaxoSmithKline (UK)
• Bausch Health Companies (Canada)
• Merck & Co (US)
• Bayer AG (Germany)
• Hisamitsu Pharmaceutical (Japan)
• Glenmark Pharmaceuticals (India)
• Cipla Ltd (India)
• Crescita Therapeutics Inc. (Canada)
• Mylan (US)
• Encore Dermatology, Inc. (US)
• LEO Pharma (Denmark)
• Almirall, S.A (Spain)
• Aclaris Therapeutics, Inc. (US)
• Taro Pharmaceutical Industries Ltd. (US)