Topical Drug Delivery Global Market Report 2024

The topical drug delivery market involves the administration of a drug from a product applied to the skin, aiming to deliver the medication to a specific target site and produce a therapeutic effect. This approach is commonly used to treat various conditions by applying medication directly to the skin.

The types of products in topical drug delivery include semi-solid formulations, liquid formulations, solid formulations, and transdermal products. Semi-solid formulations encompass a category of medications, including creams, gels, ointments, suppositories, and other unique topical dose forms. The route of administration involves dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, and nasal drug delivery. Various end users, such as hospitals, clinics, home healthcare, diagnostic centers, and others, utilize topical drug delivery methods for patient care.

The topical drug delivery market research report is one of a series of new reports that provides topical drug delivery global market statistics, including topical drug delivery industry global market size, regional shares, competitors with a topical drug delivery market share, detailed topical drug delivery market segments, market trends and opportunities, and any further data you may need to thrive in the topical drug delivery industry. This topical drug delivery global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The topical drug delivery market size has grown rapidly in recent years. It will grow from $152.77 billion in 2023 to $168.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth observed during the historical period can be attributed to several factors, including the prevalence of skin conditions and disorders, an aging population, consumer preferences for non-invasive treatment methods, the widespread occurrence of skin infections, and increased consumer awareness and emphasis on self-care practices.

The topical drug delivery market size is expected to see rapid growth in the next few years. It will grow to $252.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The anticipated growth in the forecast period can be attributed to several factors, including the rise of transdermal patches, ongoing innovations in formulations, the trend toward personalized medicine, the expansion of telemedicine and remote consultations, and the growing incidence of chronic diseases. Key trends expected during this period encompass advancements in formulations, the development of personalized dermatology solutions, the integration of 5G-enabled devices, enhanced compliance solutions, and the incorporation of sensors for improved functionality.

The anticipated growth of the topical drug delivery market is attributed to the increasing prevalence of diabetes. Diabetes, a group of diseases affecting blood sugar levels, necessitates effective drug delivery methods. Topical drug delivery proves beneficial for diabetes patients as it allows the administration of medicines bypassing hepatic first-pass metabolism. In 2021, the International Diabetes Federation reported that 537 million adults (20-79 years) were living with diabetes, resulting in 6.7 million deaths. By 2030, it is projected that the global diabetes population will reach 643 million, underscoring the role of topical drug delivery in addressing this health challenge and driving market growth.

The rising prevalence of chronic diseases, categorized as non-communicable diseases (NCDs), is anticipated to be a key driver for the growth of the topical drug delivery market. Chronic diseases, including cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes, account for a significant percentage of global deaths. The World Health Organization reported 41 million deaths annually, with 74% attributed to NCDs. The effectiveness of topical drug delivery in managing symptoms and improving patients' quality of life positions it as a valuable solution, contributing to the market's growth.

An emerging trend in the topical drug delivery market is technological advancement. Major market players are focusing on developing innovative products with advanced technologies to strengthen their market position. For instance, Sol-Gel Technologies Ltd. and Galderma S.A. introduced Epsolay, a benzoyl peroxide cream (5%) for the treatment of inflammatory lesions of rosacea. This product leverages Sol-Gel’s microencapsulation technology, enhancing stability and resistance to environmental conditions, showcasing the role of technology in product innovation.

The approvals for new innovative products are driving growth in the topical drug delivery market. Regulatory authorizations for pharmaceutical products applied to the skin or mucous membranes to treat medical conditions are crucial for market expansion. Zydus Lifesciences Limited received approval from the United States Food and Drug Administration (FDA) for Adapalene and Benzoyl Peroxide Topical Gel, prescribed for the treatment of acne vulgaris. The gel's active components, Adapalene and benzoyl peroxide, work synergistically to reduce acne frequency and intensity, demonstrating the market's response to innovative solutions.

In June 2022, Novartis AG's acquisition of Kedalion Therapeutics and its AcuStream technology reflects strategic moves in the topical drug delivery market. This acquisition enhances Novartis's ophthalmics portfolio, aiming to address unmet patient needs in front-of-eye conditions, showcasing the importance of acquisitions in fostering market growth.

Major companies operating in the topical drug delivery market include Glenmark Pharmaceuticals Ltd., Galderma SA, Johnson & Johnson Private Limited, GlaxoSmithKline PLC., Bausch Health Companies Inc., Nestlé SA, Novartis AG, Merck & Co., Hisamitsu Pharmaceuticals, Bayer AG, Cipla Limited, Viatris Inc., 3M Company, Crescita Therpeautics Inc., Boehringer Ingelheim International GmBH, Pfizer Inc., Teva Pharmaceuticals Industries Ltd., Bristol Myers Squibb, Lead Chemical Co. Ltd., Purdue Pharma L.P., Lavipharm SA, AbbVie Inc., CMP Pharma Inc., Encore Dermatology Inc., Prosolus Inc., Rusan Pharma Ltd., Mylan N.V., LEO Pharma A/S, Almirall S.A., Sun Pharmaceutical Industries Ltd., Fougera Pharmaceuticals Inc., Perrigo Company PLC, Taro Pharmaceutical Industries Ltd., MedPharm Ltd.

North America was the largest region in the topical drug delivery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global topical drug delivery industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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.

The topical drug delivery market includes revenues earned by entities by lotions, gels, patches, and powders. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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