Topical Drug Delivery Market

The global topical drug delivery market size was valued at USD 95.24 billion in 2021, is anticipated to reach USD 155.25 billion by 2030 and expanding at a CAGR of 6.4% during the forecast period, 2021–2030. The growth of the market is attributed to the rising prevalence of skin infections such as psoriasis and eczema.

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Topical drug delivery is the distribution of medications through topical channels such as mucosa, skin, or cavities in the body. These are used to avoid the drug's first-pass impact or to provide site-specific activity. Creams, ointments, lotions, foams, gels, and other drugs are included in topical drug delivery. Topical distribution has several advantages, including site specificity, great appropriateness for self-medication, elimination of drug level variations, and improved compliance. The pharmacological response of a medication is determined by the drug's concentration at the site of action. The desired therapeutic effect and the unwanted adverse consequence is determined by the dosage form and the drug's amount of absorption at the site of action.

The COVID-19 pandemic has significant impact on the public health. Several clinical trials for topical therapies in pandemic are now underway, with the goal of assisting the market under investigation. A considerable influence on topical medicine demand was also seen as a result of the delay in diagnosis and treatment. In June 2020, Mansoura University researchers began a clinical trial with a topical steroid and cyclosporin-A for the treatment of COVID-19 keratoconjunctivitis.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing preference for topical drug delivery due to non-invasive nature is expected to drive the market.
• Approval of new drugs is projected to propel the market during the forecast period.
• Side effects of topical drugs such as allergies and lashes are anticipated to hinder the market.
• High cost associated with the drugs is expected to hamper the market in the coming years.
• Technological advancements and innovations are projected to create lucrative opportunities for market players. 

Scope of the Report

The report on the global topical drug delivery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Semi-solid segment to expand at a considerable CAGR

On the basis of products, the topical drug delivery market is segmented into liquid, solid, and semi-solid. The semi-solid segment is further segregated into ointment, cream, and others.  The semi-solid segment is projected to expand at a considerable CAGR during the forecast period, owing to their ability to deliver wide variety of drug molecules and easy application of semi-solid formulation. The liquid segment is anticipated to account for a major market share during the forecast period, due to the increasing prevalence of minor ailments such as acne.

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Dermal segment to hold a significant share of the market

Based on route of administrations, the market is divided into nasal, dermal, ophthalmic, oral, and others. The dermal segment is expected to hold a significant share of the market in the coming years, due to great patient compliance and convenience. Dermal products are subject to less regulations than ophthalmic products, which undergo sterility testing. The oral segment accounts for a significant market share, owing to its advantages such as non-invasive and easy to administrate.

Patch segment to expand at a substantial CAGR

On the basis of devices, the topical drug delivery market is bifurcated into patch and inhaler. The patch segment is anticipated to expand at a substantial CAGR during the forecast period.  Skin patches target a specific portion of the body. The administration of drugs through skin is performed to achieve control or prolonged drug delivery. The inhaler segment is expected to hold a significant share of the market, due to increasing geriatric population.

North America is anticipated to constitute a key market share

In terms of regions, the topical drug delivery market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to increasing product launches in the region. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to rising focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems in the region.

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Segments

The global topical drug delivery market has been segmented on the basis of

• Liquid
• Solid
• Semi-Solid
  • Ointment
  • Cream
  • Others

• Nasal
• Dermal
• Ophthalmic
• Oral
• Others

• Patch
• Inhaler

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

• GlaxoSmithKline PLC
• Galderma Holding SA
• Novartis
• Med Pharm
• Johnson & Johnson
• Hisamitsu Pharmaceuticals
• Bayer AG
• Cipla
• Mylan NV

Competitive Landscape

Key players competing in the global topical drug delivery market are GlaxoSmithKline PLC; Galderma Holding SA; Novartis; Med Pharm; Johnson & Johnson; Hisamitsu Pharmaceuticals; Bayer AG; Cipla; and Mylan NV.

Key players are focusing on research and development to increase their market share. Almirall and MC2 Therapeutics signed an exclusive deal in February 2021 for the marketing of its product 'Wynzora,' a topical medication used to treat plaque psoriasis. LEO Pharma's delgocitinib cream was approved by the US Food and Drug Administration in August 2020 for the treatment of moderate-to-severe chronic hand eczema (CHE) in adults.