Pune India, July 19, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the topical drug delivery market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the topical drug delivery market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global topical drug delivery market are Glenmark Pharmaceuticals Ltd., Galderma, Johnson & Johnson Private Limited, GlaxoSmithKline Plc., Bausch Health Companies Inc., Hisamitsu Pharmaceuticals Inc., Cipla, Bayer AG, Viatris Inc. (Mylan N.V.), and 3M among others. To achieve a substantial market share in the worldwide topical drug delivery market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Galderma is one of the most significant manufacturers and distributors present in the global topical drug delivery market.
Topical drugs are mainly applied onto a certain part of the body, usually the skin, to treat different ailments. After the application on skin, the drug primarily enters through the stratum corneum and passes via deeper epidermis and dermis with no drug accumulation in dermal layer. In addition, the process of topical drug delivery (TDD) administers drug into the body via different routes including skin, nasal, vaginal, rectal, and ophthalmic.
Furthermore, burn injuries one of the most devastating of all injuries which accounts for the fourth most common kind of trauma globally, following traffic accidents, falls, and interpersonal violence. For instance, according to the Lancet Public Health, one of the leading journals in global health, burns wound were one of the main reasons of disability, with over 8 million disability-adjusted life-years (DALYs). However, burn wounds are mainly treated with the help of topical agents as well as wound dressings according to on their extent and stage. Therefore, rising occurrence of burn injuries creates demand for topical drug delivery.
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Scope of Topical drug delivery Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, route of administration, and facility of use |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Glenmark Pharmaceuticals Ltd., Galderma, Johnson & Johnson Private Limited, GlaxoSmithKline Plc., Bausch Health Companies Inc., Hisamitsu Pharmaceuticals Inc., Cipla, Bayer AG, Viatris Inc. (Mylan N.V.), 3M. among others |
Segmentation Analysis
Transdermal products segment is expected to be the fastest growing segment in 2021.
The product segment includes semi-solid formulations, liquid formulations, solid formulations, and transdermal products. Transdermal products is expected to witness highest growth rate during the forecast period. This type of products are administered to the skin and the drugs infuse into the systemic circulation and is sent throughout the body to the site of action. In addition, transdermal drug delivery system has become an essential method due to its low rejection rate, superb convenience, exceptional ease of administration, and persistence among patients. These benefits of transdermal products has further created lucrative growth opportunities for the market.
Nasal drug delivery segment is expected to be the fastest growing segment in 2021.
The route of administration segment includes dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, and nasal drug delivery. Nasal drug delivery segment is expected to witness highest CAGR during the forecast period. Upsurge in patient preference towards nasal drug delivery to ensure easy administration and better efficacy as mainly driven growth of this segment. In addition, this route of administration has seen emerging popularity due to its characteristics of low enzymatic degradation, high vascularization, high permeability, rapid onset of action, and avoidance of hepatic first pass metabolism.
Burn centers segment is expected to be the fastest growing segment in 2021.
The facility of use segment includes home care settings, hospitals & clinics, burn centers, and other facilities. Burn centers is expected to witness highest growth rate during the forecast period. Significantly higher risk of mortality and morbidity associated with burn cases has led to the increase in number of burn care centers. In burn centers, the topical agents such as silver sulfadiazine cream, nanocrystalline silver dressings, mafenide acetate cream, and hypochlorous antiseptic solutions are suggested for deep second- and third-degree burns. Hence, increased number of burn care centers has created growth opportunities for the market.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the topical drug delivery include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North Amrica region witnessed a major share. This is mainly attributed to increased preference for pain-free drug delivery, prevalence of skin diseases, and upsurge in demand for self-administered drugs. However, Asia-Pacific is expected to witness considerable growth rate during the forecast period. Growing demand from emerging markets such as India and China coupled with upsurge in a number of patients with skin disease has driven growth of Asia-Pacific topical drug delivery industry.
Country Analysis
Germany
Germany Topical drug delivery market size was valued at USD 22.15 billion in 2021 and is expected to reach USD 43.66 billion by 2029, at a CAGR of 9.1% from 2022 to 2029.
In the Europe region, Germany is one of the leading shareholders in the topical drug delivery market. In addition, the huge healthcare spending by government in this country has been a major contributor to the market growth. Furthermore, increased prevalence of skin diseases such as acne vulgaris has driven demand for topical drug delivery. In addition, emergence of innovative topical drugs in the country creates lucrative growth opportunities for the market. For instance, October 2021, Almirall, the Spanish dermatology company launched its Klisyri (tirbanibulin) ointment in both the UK and Germany.
China
China topical drug delivery market size was valued at USD 40.28 billion in 2021 and is expected to reach USD 78.80 billion by 2029, at a CAGR of 9.0% from 2022 to 2029. The factors such as aging population, increasing consumer income, and government initiatives has driven growth of the China topical drug delivery market. In addition, in the global pharmaceutical manufacturing supply chain, China accounts for about 40% of all active pharmaceutical ingredients (APIs) used globally. In addition, a number of Chinese facilities that produces APIs for the U.S. has increased significantly over the past decade. This factor has been a primary contributor to the topical drug delivery industry revenue in this country.
Moreover, in June 2020, The National Medical Products Administration (NMPA) in China approved Dupixent, a topical prescription medicine for treating the moderate-to-severe atopic dermatitis in adults. Rising approval for topical drugs in the country for treatment of skin disorders has further boosted growth of the market.
India
India topical drug delivery market size was valued at USD 13.49 billion in 2021 and is expected to reach USD 27.47 billion by 2029, at a CAGR of 9.5% from 2022 to 2029. India is one of the highest growing economies in Asia. Increasing population with skin disorders, rising incidences of burn injuries, and ongoing demand for at-home healthcare and self-administration of drugs has driven India topical drug delivery market.
Furthermore, in July 2022, Glenmark Pharmaceuticals, an Indian multinational pharmaceutical company under the brand name “MINYM”, launched India’s first topical Minocycline 4% Gel which is focused on the treatment of moderate to severe acne. Emergence of such topical drug products in the country further boosts market growth.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as electronics, semiconductors, manufacturing, and, automobile, etc. However, several companies operating in healthcare sector has seen upsurge in their revenue due to significant changes in consumer preferences towards seeking healthcare services. In addition, the pandemic has led to significant growth in healthcare spending across the developing as well as developed countries.
Furthermore, the drugs had been stored by various end users as well as patients owing to COVID-19's rapid expansion. This factor has boosted growth of global topical drug delivery market.
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