Insights on the Topical Drug Delivery Global Market to 2031 - Players Include Glenmark Pharmaceuticals, Galderma, Johnson & Johnson and GlaxoSmithKline

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "Topical Drug Delivery Global Market Report 2022: Ukraine-Russia War Impact" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global topical drug delivery market.

The global topical drug delivery market is expected to grow from $126.11 billion in 2021 to $137.15 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The topical drug delivery market is expected to grow to $186.51 billion in 2026 at a compound annual growth rate (CAGR) of 8.0%.

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Major players in the topical drug delivery market are Glenmark Pharmaceuticals Ltd, Galderma SA, Johnson & Johnson Private Limited, GlaxoSmithKline Plc, Bausch Health Companies Inc, Cipla Ltd, Bayer AG, 3M, Merck & CoInc, Crescita Therpeautics Inc, Novartis International AG, Taro Pharmaceutical Industries Ltd, Valeant Pharmaceuticals International Inc, Encore Dermatology Inc, Medpharm Group Limited, SkinVisible Pharmaceuticals Inc, Hisamitsu Pharmaceutical Co Inc and Pfizer Inc.

The topical drug delivery market consists of sales of topical drug delivery devices by entities (organizations, sole traders, and partnerships) that are used to provide medication that are applied to the skin, to treat different conditions. It refers to the procedure of delivering a drug from a product on the skin to a local target site to produce a therapeutic effect. There are various common forms of topical delivery such as gels, lotions, powders, and patches, which are mainly formulated as ointments or creams.

The types of products in topical drug delivery are semi-solid formulations, liquid formulations, solid formulations, and transdermal products. Semi-solid formulations refer to a group of medications referred to as semi-solids, including creams, gels, ointments, suppositories, and other unique topical dose forms. The route of administration includes dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, and nasal drug delivery. The various end users include hospitals, clinics, home healthcare, diagnostic centers, and other end users.

North America was the largest region in the topical drug delivery market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the topical drug delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing prevalence of diabetes is expected to propel the growth of the topical drug delivery market going forward. Diabetes is a group of diseases that affect how the body uses blood sugar and results in high blood sugar levels. Topical drug delivery helps diabetes patients by administering medicines that can bypass hepatic first-pass metabolism.

For instance, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, diabetes was the ninth leading cause of death in 2019, with an estimated 1.5 million deaths directly caused by diabetes. Therefore, the growing prevalence of diabetes is driving the growth of the topical drug delivery market.

Technological advancement is a key trend gaining popularity in the topical drug delivery market. Major companies operating in the topical drug delivery market are developing innovative products with advanced technologies to strengthen their position in the topical drug delivery market.

For instance, in April 2022, Sol-Gel Technologies Ltd., an Israel-based dermatology company, and Galderma S.A., a Switzerland-based pharmaceutical company specializing in dermatological treatments and skin care products, introduced Epsolay (benzoyl peroxide, cream, 5%), utilizing Sol-Gel's microencapsulation technology for the treatment of inflammatory lesions of rosacea, which is patent protected until 2040.

Sol-gel microencapsulation provides the advantage of entrapping molecules by forming inclusion complexes between essential oils (Eos) as guest molecules and beta-cyclodextrin as host in porous silica, making it more stable and resistant to environmental conditions. Silica acts as a protector for EOs.

In June 2022, Novartis AG, a Switzerland-based pharmaceutical company, acquired Kedalion Therapeutics and its AcuStream technology for an undisclosed amount. This acquisition enhances the Novartis ophthalmics portfolio, advancing efforts to investigate transformative ophthalmic methods to address unmet patient needs in front-of-eye conditions. Kedalion Therapeutics is a US-based clinical-stage, venture-funded ophthalmic drug company operating in the topical drug delivery market.

The countries covered in the topical drug delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Key Topics Covered:

1. Executive Summary

2. Topical Drug Delivery Market Characteristics

3. Topical Drug Delivery Market Trends And Strategies

4. Topical Drug Delivery Market - Macro Economic Scenario
4.1. COVID-19 Impact On Topical Drug Delivery Market
4.2. Ukraine-Russia War Impact On Topical Drug Delivery Market
4.3. Impact Of High Inflation On Topical Drug Delivery Market

5. Topical Drug Delivery Market Size And Growth
5.1. Global Topical Drug Delivery Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Topical Drug Delivery Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Topical Drug Delivery Market Segmentation
6.1. Global Topical Drug Delivery Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Semi-Solid Formulations
• Liquid Formulations
• Solid Formulations
• Transdermal Products

6.2. Global Topical Drug Delivery Market, Segmentation By Route Of Administration, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Dermal Drug Delivery
• Ophthalmic Drug Delivery
• Rectal Drug Delivery
• Vaginal Drug Delivery
• Nasal Drug Delivery

6.3. Global Topical Drug Delivery Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Hospitals
• Clinics
• Home Healthcare
• Diagnostic Centers
• Other End Users

7. Topical Drug Delivery Market Regional And Country Analysis
7.1. Global Topical Drug Delivery Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Topical Drug Delivery Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/c30p17-drug?w=5

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