2022-2088 is the forecast period in the market report.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global topical drug delivery market. In addition, complete analysis of changes on the global topical drug delivery market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The growing incidence of skin infections such as eczema, psoriasis and minor ailments including acne are the main factors driving the growth of this market. In addition, the increasing incidence of burns, the prevalence of diabetes and eye disease, and the extensive use of drugs for the treatment of diabetic neuropathic pain and foot ulcers are expected to accelerate overall market growth.
Burns were a leading cause of disability in 2021, according to Lancet Public Health, with over 8 million disability-adjusted life years (DALYs). The high incidence of burns in key regional segments around the world has led to a sustained demand for topical medications for effective burn treatment and management. Many topical antimicrobials are used to treat burns. This is expected to drive the growth of the market over the forecast period. One of the emerging trends in the topical drug delivery market is the delivery of biologics by means of transdermal route of administration. The use of large molecule transdermal delivery offers significant benefits to patients, such as painless drug delivery and cost-effective treatment. This factor is expected to favour market growth. Furthermore, the preference for dermal drug delivery to control or prolong drug delivery and the use of this process as an alternative to the oral route is expected to drive market growth. Furthermore, the ease of use of the system, coupled with the growing need for self-administered drugs, also slows the growth of the market within the forecast period.
Self-administration of drugs in home care settings is expected to present significant growth opportunities for players operating in the topical drug delivery market. This is mainly due to the increase in the geriatric population and the closure of regular OPDs for a few months during COVID-19. The elderly are a large consumer base of topical home medications. This factor also increases the need for inhaled, topical and transdermal medications tailored to the needs of most patients. Transdermal drug delivery improves ease of drug delivery by using a transdermal patch that can be easily self-administered. It also provides convenient and painless self-administration for patients. This approach helps reduce healthcare costs by reducing the length of hospital stay. Also, in the case of transdermal patches, healthcare professionals can easily determine if a patch has been applied safely. This is one of the key opportunities which is expected to increase the demand for transdermal patches, driving the growth of the topical medicines. Besides, emerging features and new technologies has gained major attention of end user segment and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
Topical drug delivery refers to the application of drugs to the surface of the skin or into the layers of the skin or mucous membranes. The skin acts as a barrier and prevents the penetration of many bees, although it is an ideal place to achieve both local and systemic effects through the administration of drug substances. However, drugs with larger particle sizes are not easily absorbed through the skin. To facilitate skin absorption, the molecular weight of a compound should be less than 500 Daltons when developing drugs for use in topical dermatological therapies. These high molecular weight drugs are poorly soluble in lipids and cannot achieve the desired therapeutic effect and effect. Percutaneous absorption decreases with high molecular weight. This reduced therapeutic effect of topical drugs limits the therapeutic efficacy of topical drug administration. These factors are expected to restrain the market growth over the forecast period.
The Covid-19 pandemic hampered the growth of market to major extent which has created a major challenges for the market growth. There are several alternative ways of administering the drug available to patients. The preference for alternative forms of drug delivery and boosters due to drug failure is expected to hinder market growth. In addition, the technical barriers associated with skin irritation and permeability are expected to challenge the growth of the topical drug delivery market over the forecast period.
The report provides in-depth analysis of global topical drug delivery market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various topical drug delivery in various applications like transdermal and skin diseases has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
The global topical drug delivery market comprises of different market segment like product, route of administration, end users and geography.
By product, the topical drug delivery includes key segment of
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. Semi-Solid Formulations is expected to dominate the market over the forecast period. The large share of this segment is attributed to its suitability for low-density active pharmaceutical ingredients (APIs), more stable in atmospheric conditions than liquid and solid forms, and the emergence of personalized medicine due to their unique composition and better absorption properties. These dosage forms do not dry out and do not affect the functioning of the skin.
By route of administration, the topical drug delivery market is segmented into
The skin/ dermal route of administration is anticipated to lead the market gaining majority of the market share in 2021 and is expected to maintain its dominance over the estimated time period. The large share of the market segment of skin/dermal route of administration can largely be attributed to painless self-administration by the patient, it is beneficial for drugs with shorter half-lives or narrow therapeutic indices, and the elimination of frequent drug administration and plasma levels associated with oral administration and injections to maintain a constant drug concentration.
The topical drug delivery market has major end users like
Home Care Settings followed by Burn Centers are expected to gain increasing demand for topical drug delivery over the estimated time period. The large share of the home care segment is attributed to the benefits of long-term therapy, better comfort compared to hospital care, and improved medical compliance and patient outcomes. Rising geriatric population globally and growing need for self-administered medications are other significant factors affecting the growth of the home care segment.
The global Topical Drug Delivery market is studied for the following region
North America is anticipated to witness increasing demand for topical drug delivery owing to presence of large number of pharmaceutical companies and drug delivery technology providers in the region. North America's large share in the market can also be attributed to increasing prevalence of targeted health conditions, increasing preference for painless drug delivery solutions, increasing prevalence of skin diseases, increasing number of smokers around the world, to the increasing progress of transdermal patches and the strong demand for drugs that can be self-administered. Significant growth is expected for Asia-Pacific over the forecast period due to increasing geriatric population and increasing disposable income of people in the region. Also, presence of developed economies like China, India and Japan are further contributing healthy growth in the market. Besides, increasing sales and distribution of market is expected to fuel the market.
The competitive landscape analysis of topical drug delivery market is majorly focused on expanding the global growth of topical drug delivery with new product innovation, business expansion, increasing presence of range of manufacturer operating in topical drug delivery has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
February 2022: Galderma and Taro Pharmaceutical Industries Ltd. had signed a definitive agreement for Taro to acquire Alchemee, which was formerly known as The Proactiv Company, from Galderma. This agreement between Galderma and Taro includes Alchemee’s business and assets around the world, including the Proactiv brand. This agreement had added Proactiv to Taro’s broad portfolio of prescription and over-the-counter dermatology products.
February 2021: Almirall S.A., a biopharmaceutical company had announced that MC2 Therapeutics has granted Almirall exclusive European rights to market Wynzora Cream for plaque psoriasis therapy. In exchange, MC2 Therapeutics would 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.
Sizing for Year:||2019-2028|
Route of Administration
Players and its Competitors:|
Johnson & Johnson Private Limited (US)
Galderma S.A. (Switzerland)
GlaxoSmithKline plc. (UK)
Valeant Pharmaceuticals International, Inc. (Canada)
Merck & Co Inc (US)
Bausch Health Companies Inc. (Canada)
Crescita Therapeutics Inc. (Canada)
MedPharm Group Ltd. (Poland)
Purdue Pharma L.P. (US)
3M Company (US)
Pfizer Inc. (US)
Bayer AG (Germany)
Novartis AG (Switzerland)
Janssen Global Services, LLC (US)
Teva Pharmaceuticals Industries Ltd. (Israel)Encore Dermatology, Inc (US)
What would be forecast period in the market report?
2022-2088 is the forecast period in the market report.
Who are the key players studied in the Topical Drug Delivery market?
The key players studied in the market are Johnson & Johnson Private Limited, Galderma S.A., GlaxoSmithKline plc, Valeant Pharmaceuticals International, Inc., Merck & Co Inc, Bausch Health Companies Inc., Crescita Therapeutics Inc., MedPharm Group Ltd., Purdue Pharma L.P., 3M Company, Pfizer Inc., Bayer AG, Novartis AG, Janssen Global Services, LLC, Cipla, Teva Pharmaceuticals Industries Ltd. and Encore Dermatology, Inc among others.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).