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Global Topical Drug Delivery Market Size, Trends & Analysis - Forecasts to 2026 By Type of Medication (Semi-Solid Medication, Liquid Medication, Solid Medication, and Medicated Adhesive Patches), By Mode of Drug Delivery (Transdermal Drug Delivery, Ocular Drug Delivery, Drug Delivery via Rectum, Vaginal Drug Delivery, Drug Delivery via Nostrils), By End-User (Healthcare Facilities, Homecare Settings, Burn Center, and Research Institutes), By Region (Europe, North America, MEA, Asia Pacific, and CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
A topical drug is a medicine that is applied to the skin of the patient. This type of administration is the application of drugs in the form of creams and gels on to body surfaces, for example, the skin or mucous layers to treat diseases using a huge scope of classes including creams, froths, gels, moisturizers, and balms.
The high prevalence of skin diseases, soft tissue infections, eye infections, and increasing cases of burns across the globe will propel the market to grow exponentially. Also, major symptoms of thyroid and diabetes have been related to skin or topical infection which will in turn help the topical drug delivery market grow from 2020 to 2026. In recent times, the market has witnessed the augment and high adoption of the transdermal patch which is a non-invasive drug delivery treatment procedure. This adoption pattern is estimated to help the entire market grow. The trend of self-care or self-treatment at point of care setting is also analyzed to be the major market driver. The adoption of oral drugs and injections for skincare routine and other diseases will pose a challenge for the market during the forecast period.
Based on the type of medication, the market for topical drug delivery is divided into semi-solid medication, liquid medication, solid medication, and medicated adhesive patches. Owing to factors like the ease in application of medication which is in the semi-solid form, and their ability to deliver a wide variety of drug molecules will help the semi-solid medication segment grow the fastest and be the largest market during the forecast period.
Based on the mode of drug delivery or drug administration route, the market is segmented into transdermal drug delivery, ocular drug delivery, drug delivery via the rectum, vaginal drug delivery, and drug delivery via nostrils. The Transdermal drug delivery segment will be the largest growing market due to high patient compliance, ease in FDA approval for its marketing and sale, and is also considered as an effective way of treatment system by patients.
Based on potential customers for this market, the segmentation is healthcare facilities, home care settings, burn centers, and research institutes. Based on the factors of convenience, pocket-friendly outpatient treatment therapy, and point of care healthcare treatment, the home care settings will be the fastest and largest growing market.
The North American region will be a major region in terms of revenue and volume sales of such medicines, however, the market for the Asia Pacific will be the fastest-growing during the 2020-2026 time period. This can be attributed to the growing adoption of transdermal patches amongst Asian end-users, the rising number of clinical laboratory setups of major pharmaceutical industries, and the high incidence of skin diseases and burn cases.
Nestlé SA, GlaxoSmithKline, Hisamitsu Pharmaceutical, Aclaris Therapeutics, Inc., Johnson & Johnson, Novartis AG, Bausch Health Companies, Merck & Co., Glenmark Pharmaceuticals, Bayer AG, Mylan, Sun Pharmaceuticals, Encore Dermatology, Inc., Cipla Ltd., and Crescita Therapeutics Inc. among others are the major players in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2019, Mylan Pharmaceutical Inc., launched their topical drug namely Diclofenac Sodium Gel, an over the counter gel, used for relieving pain from arthritis.
In January 2019, Nestle opened its new office in Malaysia about skincare medicines and with this strategy expanded its business in the Asian market.
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The Global Topical Drug Delivery Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Topical Drug Delivery Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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