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The global topical drug delivery market is projected to reach USD 317.8 billion by 2027 from USD 207.4 billion in 2022, at a CAGR of 8.9%

·4-min read
ReportLinker
ReportLinker

The growth of this market can largely be attributed to the high prevalence of topical prescription therapy for dry eye diseases, growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems, increase in prevalence of central nervous disorders, rising preference for non-invasive drug delivery methods.

New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Topical Drug Delivery Market by Type, Route, Facility of Use - Global Forecast to 2027" - https://www.reportlinker.com/p04805946/?utm_source=GNW


The semi-solid formulation segment accounted for the largest share of the topical drug delivery market, based on product in 2021.
Based on products, the topical drug delivery the market is segmented into semi-solid formulations, liquid formulations, solid formulations, and transdermal products. The large share of semi-solid formulations segment is attributed to better patient adherence with limited side effects, more absorption, provide efficiency in drug release, and does not harm the gastrointestinal tract.

Dermal drug delivery accounted for the largest share of the market.
Based on the route of administration, the market is segmented into dermal, ophthalmic, rectal, vaginal, and nasal drug delivery. The large share of the dermal drug delivery market segment can largely be attributed to accessible product launches and adoption as they have fewer regulatory requirements, enhancement of penetrations and permeation of drugs as they are delivered through skin, and less irritation in patients as compared to nasal or ophthalmic drug delivery.

Home care settings hold the largest share in the market, by facility of use
Based on the facility of use, the market is segmented into home care settings, hospitals & clinics, burn centers, and other facilities. The large share of home care settings segment can be attributed to better patient comfort, growing awareness regarding home care settings is improving patient acceptability, decline in hospital visits due to COVID-19 pandemic, and shift in trend from treatments carried out in hospitals and nursing homes to treatments at home due to cost-effectiveness of home care settings.

The APAC to witness the highest growth during the forecast period.
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2022–2027. The high incidence of skin diseases (such as skin cancer), the rising prevalence of chronic diseases (such as diabetes), increasing use of contraceptives, the increasing geriatric population, and the growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems are some of the major factors that are expected to drive the growth of the topical drug delivery market in the Asia Pacific region.

Break of primary participants was as mentioned below:
• By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%
• By Designation – C-level–35%, Director-level–25%, Others–40%
• By Region – North America–45%, Europe–30%, Asia Pacific–20%, Latin America- 3%, Middle East and Africa–2%

Key players in the Topical Drug Delivery Market
The prominent players in the topical drug delivery market are Glenmark Pharmaceuticals Ltd. (India), Galderma (Switzerland), Johnson & Johnson Private Limited (US), GlaxoSmithKline Plc. (UK), Bausch Health Companies Inc. (Canada), Hisamitsu Pharmaceuticals Inc. (Japan), Cipla (India), Bayer AG (Germany), Viatris Inc. (Mylan N.V.) (US), 3M (US), Merck & Co.Inc.. (Germany), Crescita Therpeautics Inc. (Canada), Novartis International AG (Switzerland), Boehringer Ingelheim International GmBH (Germany), Pfizer Inc. (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol Myers Squibb (US), Lead Chemical Co., Ltd. (Japan), Purdue Pharma L.P. (US), Lavipharm (Greece), AbbVie Inc. (US), CMP Pharma, Inc. (Germany), Encore Dermatology, Inc. (US), Prosolus Inc. (US), and Rusan Pharma Ltd. (India).

Research Coverage:
The report analyzes the topical drug delivery market and aims at estimating the market size and future growth potential of this market based on various segments such as product, route of administration, facility of use, and region.The report also includes a product portfolio matrix of various topical drug delivery products available in the market.

The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the topical drug delivery market. The report analyzes this market by product, by route of administration, and by facility of use.
• Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global topical drug delivery market
• Market Development: Comprehensive information on the lucrative emerging markets by product, route of administration, and facility of use
• Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global topical drug delivery market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global topical drug delivery market.
Read the full report: https://www.reportlinker.com/p04805946/?utm_source=GNW

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