Global Topical Drug Delivery Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of 5.80 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Topical medications are usually applied on body surfaces like skin or mucous membranes, which being reverse counterparts of systemic medications and products. These medications contain creams, foams, gels, lotions, ointments, and others.
The increasing prevalence of skin disorders across the globe is one of the key drivers in the global topical drug delivery market. Growing incidence of diabetes across the globe is expected to increase the demand for topical drug delivery. Additionally, the growing incidence of burn injuries and the rising preference of topical drug delivery are projected to boost the market growth in the global topical drug delivery market.
On the other hand, the negative impact on consumers owing to product recalls is expected to hamper the growth of the global topical drug delivery market during the forecast period.
The global topical drug delivery market is estimated to experience XX% growth during the forecast period. Increasing demand for advanced and enhanced therapeutics is expected to offer lucrative opportunities. Furthermore, the growing number of approvals for new products for skin-related drug delivery is expected to boost the growth in the global topical drug delivery market.
There have been major benefits in the topical and trans-dermal drug delivery systems, to target a specific site in the body. The administration of drugs through the skin is also accomplished to achieve controlled or continued drug delivery and this route can be discovered as an alternative to the oral route. The comfort of usage may reduce overall healthcare treatment costs. The dermal segment is expected to have a significant contribution to global topical drug delivery market growth, which is widely used and has certain benefits.
North America region is estimated to hold the dominant position in the global topical drug delivery market. The growing prevalence of skin diseases, approvals, and introductions of innovative topical formulations and funding for the improvement of topical drugs are some of the driving factors behind the growth of the topical drug delivery market in the region. Furthermore, the Asia Pacific region is expected to grow at a XX % rate of CAGR during the forecast period. The growing aging population, increasing healthcare expenditure and disposable income, and rising focus of global pharmaceutical key players in emerging economies like India and China are expected to boost the growth in the global topical drug delivery market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments and, project the global topical drug delivery market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global topical drug delivery market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of the Report for Global Topical Drug Delivery Market
Global Topical Drug Delivery Market, By Product
• Semi-Solid Formulations
Creams
Ointments
Lotions
Gels
Pastes
• Liquid Formulations
Suspensions
Solutions
• Solid Formulations
Powders
Suppositories
• Transdermal Products
Transdermal Patches
Transdermal Semi-Solids
Global Topical Drug Delivery Market, By Route of Administration
• Dermal Drug Delivery
• Ophthalmic Drug Delivery
• Rectal Drug Delivery
• Vaginal Drug Delivery
• Nasal Drug Delivery
Global Topical Drug Delivery Market, By Facility of Use
• Home Care Settings
• Hospitals and Clinics
• Burn Centers
• Other Facilities
Global Topical Drug Delivery Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Topical Drug Delivery Market
• Hisamitsu Pharmaceutical
• Nestle SA
• Novartis AG
• Glenmark Pharmaceuticals
• Cipla Inc.
• Glaxosmithkline
• MedPharm Group Ltd
• Janssen Global Services
• Bausch Health Companies
• Pocono Coated Products LLC
• Merck & Co.
• Skinvisible Pharmaceuticals, Inc.
• Bayer AG
• Crescita Therapeutics Inc.
• Galderma S.A.
• Lohmann Therapie-Systeme AG
• Mylan N.V.
• Valeant Pharmaceuticals International, Inc.
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