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Topical drug delivery refers to the acquaintance or delivery of drugs through topical routes such as the skin, mucosa, cavities, and other areas of the body. These are applied locally to avoid the first-pass effect of the drug or for site-specific action as reverse counterparts of systemic medications and products. The medications involved in this system include creams, foams, lotions, gels, ointments, and others.
Topical mode of delivery offers benefits such as site-specificity, eliminating fluctuations in the levels of drugs, improved suitability for self-medication, better compliance, and others. The response of the drug along with side effects (if any) depends on the concentration of the drug at the place of action, which in turn depends drastically upon the dosage form and the extent of absorption of the drug at the site of action. The key purpose of a topical drug delivery system is to enhance the skin permeability and to retain in the dermis. Consequently, it is becoming increasingly popular in the pharmaceutical industry.
The global topical drug delivery market is anticipated for growth at more than healthy CAGR in the next few years to follow.
The growth of this market is attributed towards major relying factors including the rise in geriatric population worldwide, the surging prevalence of diabetes, skin and soft tissue infections, eye diseases, dermal diseases and burns, rising technological advancements in topical drug delivery systems, growth in preference for topical drug delivery due to its non-invasive nature and the growing patient preference towards topical drugs over oral drugs owing to avoidance of bitter taste of the drugs taken orally.
Also, the innovations and developments by key market players in topical formulation along with acquisition of small market players and approvals of new drugs, technological advances and innovations is further going to propel the market.
Moreover, vast benefits provided by topical drug delivery across the skin such as sustained medicine release, reduction in oscillations in plasma medicine proportion, circumvention of first-pass metabolism along with enhancing of patient compliance among others increase their demand on the global scale, which thereby enhance the growth of the market. Furthermore, with growing need to enhance drug absorption through skin, new topical drug delivery systems are used along with the nanotechnology to overcome the skin barrier and the administration of drugs through the skin to achieve controlled or prolonged drug delivery as an alternative to the oral route which help in the reduction of overall healthcare treatment costs. This is increasing their demand multifold times in the industry.
However, side effects of topical drugs, such as allergies and rashes coupled with their slow onset of action, high development cost, different solubility profiles of drugs making product formulation challenging, negative impact of product recalls, stringent regulatory requirements, the presence of alternative drug delivery modes and difficult testing procedure of final products are factors among others that restrain the growth of this market.
TOPICAL DRUG DELIVERY MARKET SEGMENTATION:
By Administration Route:
By Distribution Channel:
The North American region has been dominating and is also expected to be the largest market for topical drug deliveries in the near future owing to the presence of large number of pharmaceutical companies and drug delivery technology providers in the region, increasing incidences of skin ailments, high approvals of new topical drug designs, rising government initiatives, high health care expenditure, presence of a significant number of skilled personnel in the region, growing R&D activities in the transdermal drug delivery systems by players located in the U.S. and the favorable funding for development of topical drugs in the region.
The European region is accounted to be the second largest regional market for topical drug deliveries owing to the growing geriatric population in the region, the increasing R&D investments by government and players, and rising adoption of novel drug delivery systems to treat several dermatological conditions.
The Asia-Pacific region is expected to be the fastest growing regional market for topical drug deliveries in the upcoming years. This can be well attributed to the high incidence of skin diseases (such as skin cancer) in the region, the rising healthcare expenditure, the growing use of contraceptives, growing geriatric population, growing disposable incomes of people, the growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems.
FEW KEY PLAYERS IN TOPICAL DRUG DELIVERY MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global topical drug delivery market by the following segments:
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Key Questions Answered in the Global Topical Drug Delivery Industry Report
The report offers a comprehensive insight on the Topical Drug Delivery Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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