Topical Drug Delivery Market Volume in Future - Growth and Demand Forecast to 2023

Drugs that are applied to a local area on the body are known as topical drugs. Many creams and balms that are used for skin treatment are frequently called topical drug. Topical drug delivery market offers an alternative drug delivery system to treat many diseases and related conditions such as psoriasis, ringworm, rashes & blisters and others. The topical drug delivery has turned out to be progressively essential in the pharmaceutical industry. Eye drops for ophthalmic use and various drugs utilized for inward breath in respiratory conditions such as asthma are also frequently known as topical medications. Topical medications have a local effect that means the effect of the drug will be only in the area where the drug has been applied; however, some topical medications can also have a systemic effect.

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The factors that could serve as an opportunity for the players in topical drug delivery market are the increasing innovations in the field of science that have led to the development of biologics which can be used for transdermal delivery of drugs. Moreover, larger players in the topical drug delivery industry are acquiring smaller firms to gain increased market share in this field and also to acquire their technologies made in the field of topical drug delivery.

In January 2017, the United States Food and Drug Administration approved Rhofade (oxymetazoline hydrochloride) manufactured by Allergan plc for the topical treatment of persistent facial erythema associated with rosacea in adults. Rhofade is cream based formulation intended for topical administration.

In December 2016, Sienna Biopharmaceuticals, Inc., announced that it had acquired Creabilis plc, a company focused on developing topical treatments for inflammatory diseases including atopic dermatitis, psoriasis and pruritus. The acquisition was done to acquire patented and first-in-class late-stage clinical candidates, including topical TrkA/janus kinase 3 (JAK3) inhibitor (SNA-125, formerly CT340) and Phase IIb topical tropomyosin receptor kinase A (TrkA) inhibitor (SNA-120, formerly CT327) for the treatment of skin conditions such as psoriasis and pruritus.

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Some of the other key players operating in the global topical drug delivery market include Crescita Therapeutics Inc., SOLVAY S.A., Bayer AG, Cipla Limited, Galderma S.A, GlaxoSmithKline PLC, Janssen Global Services, LLC. (Johnson and Johnson), Novartis International AG, Sienna Biopharmaceuticals, Inc., Allergan PLC.

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