Considerable increase in the prevalence of skin diseases and infections are major drivers for the topical drug delivery market revenue growth.
Market Size – USD 88.96 Billion in 2019, Market Growth – at a CAGR of 6.3%, Market Trend – High demand from the APAC region.
The topical drug delivery market is expected to be valued at USD 145.68 billion in 2027 from USD 88.96 billion in 2019, registering a CAGR of 6.3% through the forecast period, according to the current report by Emergen Research.
The importance of topical medication formulations for prescription delivery is growing rapidly, and the increasing demand for the usage of these types of drugs is currently helping to increase the size of the market. The movement towards more convenient home treatments is also helping increase the size of the market. Topical drug delivery routes help to distribute the drug product to the same region more selectively while preventing variations in the drug level. This approach also provides inter-and intra-patient differences, better enforcement, and high self-medication suitability, and better convenience.
Request For The Sample Copy At: https://www.emergenresearch.com/request-sample/479
The growing prevalence of skin disorders, such as acne, eczema, psoriasis, etc., continues to drive growth in the global market for topical drug delivery. Some other main factors, such as the non-invasive nature of this route of drug administration, enhanced efficacy of drugs administered into the skin, and increased global geriatric population, are other major factors that further drive the growth of the current market for drug delivery. In addition, new topical drug approvals and rapid technological advances and improvements, as well as ongoing advancements in the industry, are expected to significantly boost growth in the topical drug delivery market over the forecast period.
Nanotechnology is being increasingly researched as a viable alternative in the topical drug delivery system due to the rising need for the production of more effective drugs that can be absorbed through the skin. Lipid-based nano-delivery systems, for instance, can help deliver the requisite drug efficiently through the sk in and have proven advantageous in overcoming skin barriers.
Further Key Findings from the Report Suggest:
- Aclaris Therapeutics, Inc. purchased RHOFADE cream from Allergan in December 2018. With the purchase, Aclaris Therapeutics, Inc. has been able to refocus its efforts on the development of immunoinflammatory assets to provide innovative care for patients with immunoinflammatory diseases.
- Sun Pharmaceutical purchased Pola Pharma and two of the latter’s manufacturing facilities in Japan in November 2018. This transaction has helped to improve the dermatology sector of the company in Japan’s island country.
- The industry in North America accounted for a 32% market share in 2019. The involvement of numerous major pharmaceutical firms has contributed to robust and large market size in terms of sales from countries in the region, while North America has dominated other regions in terms of exposure to the global market in terms of revenue share over the past few years.
- Key players operating in the market are Johnson & Johnson, Nestlé SA, GlaxoSmithKline, Novartis AG, Merck & Co, Bausch Health Companies, Glenmark Pharmaceuticals, Bayer AG, Hisamitsu Pharmaceuticals, and Encore Dermatology, Inc.
To get leading market solutions, visit the link below:
For the purpose of this report, Emergen Research has segmented the global topical drug delivery market based on product form, route, end-use, and region:
- Product Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020–2027)
- Solid Formulations
- Transdermal Products
- Liquid Formulations
- Route Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020–2027)
- End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020–2027)
- Home Healthcare
- Diagnostic Centers
- Burn Center
Make an inquiry and request for customization @ https://www.emergenresearch.com/request-for-customization/479
- Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2020–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
Directly Purchase/Place an Order for a copy of this research report at: https://www.emergenresearch.com/select-license/479
Company Name: Emergen Research
Contact Person: Eric Lee
Email: Send Email
Phone: +1 (604) 757-9756
Address:14671 110 Avenue Surrey, British Columbia, V3R2A9
State: British Columbia