Topical medications are generally applied on body surfaces such as skin or mucus membrane, thus being reverse counterparts of systemic medications and products. These medications include creams, foams, gels, lotions, ointments, and others.
Major factors that drive the topical drug delivery market are the high prevalence of skin diseases and burn injuries, deep penetration of drugs in the body, growth in preference for topical drug delivery due to non-invasive nature, and rise in geriatric population. However, side effects of topical drugs, such as allergies and rashes, and slow onset of action restrain the market growth. Factors such as delivery of biologics through the transdermal route and acquisition of small market players are expected to present numerous opportunities for market growth in near future.
The topical drug delivery market is segmented on the basis of product, route of administration, end user, and region. On the basis of product, it is bifurcated into formulations and devices. Formulation is sub-segmented into liquid, semisolid, and solid topical formulations. Devices are further classified into transdermal patches and transdermal gels. On the basis of route of administration, it is classified into skin, ophthalmic, rectal, vaginal, and nasal. The end-user segment includes hospitals & private clinics, home care settings, and others. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Key players operating in the global topical drug delivery market are Galderma S.A., GlaxoSmithKline plc., Valeant Pharmaceuticals International, Inc., Crescita Therapeutics Inc., MedPharm Group Ltd., 3M Company, Bayer AG, Novartis AG, Janssen Global Services, LLC, and Cipla.
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
- The report offers a quantitative analysis from 2017 to 2023, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Exhaustive analysis of the topical drug delivery market by product helps in understanding the types of topical drugs that are currently being used and the variants that would gain prominence in the future.
Topical Drug Delivery Market Key Segments:
- Devices (Transdermal Drug Delivery)
- Transdermal Patches
- Transdermal Gels
By Route of Administration
By End User
- Hospitals & Private Clinics
- Home Care Settings
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA