Topical Drug Market Global Outlook on Key Growth Factors and Industry Analysis - Nestlé Skin Health, Novartis AG, Sanofi, ALLERGAN, Valeant, GlaxoSmithKline plc, Pfizer Inc, Abbott, Bayer AG, Johnson & Johnson Services, Inc

Databridgemarketresearch.com Adds “Global Topical Drug Market – Industry Trends and Forecast to 2024” To Its Research Database.

Global Topical Drug Market, “By Product Type (Liquid {Solutions, Suspensions}, Semi-solid {Cream, Gel, Ointment, Paste, Lotion}, Solid {Suppositories, Powders}), By Disease (Dermatology, Ophthalmology, Rectal, Genecology, Respiratory), By End-User (Hospitals, Clinics, Ambulatory Center), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)" –Industry Trends and Forecast to 2025.

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Global Topical Drug Market

Drugs that are applied to a local area on the body are known as topical drugs. Most often topical drugs are applied to body surfaces such as skin or mucus membrane to treat ailments through a various range of classes such as creams, lotion, foams, gel, ointments etc. 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. New technological developments by companies are fueling the growth of the market. For Instance, in February 2018, Kaken and Valeant pharmaceuticals entered into an exclusive license agreement to develop and commercialize products containing an investigational compound, KP-470, which is a new chemical entity being studied for the topical treatment of psoriasis.

Rising prevalence of skin disorders is driving the growth of the market. The reported prevalence of psoriasis in countries ranges between 0.09% and 11.43%, making psoriasis a serious global problem with at least 100 million individuals getting affected worldwide. Around 7.5 million people in United States are getting affected from psoriasis, according to the study by American academy of dermatology.

Frequently Asked Questions?

• What will the market size be in 2025?
• What are the key factors driving the global market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2025?
• Which strategies are used by top players in Global Topical Drug Market?

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Segmentation: Global Topical Drug Market

The global market for topical drug by the following sub-categories is presented

By Product Type

Liquid
Solutions
Suspensions
Semi-solid
Cream
Gel
Ointment
Paste
Lotion
Solid
Suppositories
Powders

By Disease

Dermatology
Ophthalmology
Rectal
Genecology
Respiratory

By End-User

Hospitals
Clinics
Ambulatory Center

By Geography

North America
South America
Europe
Asia-Pacific
Middle East and Africa

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FACTORS DRIVING GROWTH IN GLOBAL TOPICAL DRUG MARKET

Increasing prevalence of skin diseases:

Skin disease is one of the leading causes of global disease burden, affecting millions of people worldwide. Aging, environmental and genetic factors and trauma can result in the development of a diverse set of skin diseases. American academy of dermatology in the year 2006 published a study, in which it was found that there were various substantial changes in the practice of dermatology and in the U.S. health care system. These changes included development of new treatment, increases in the cost of medications, increasingly complex payer rules and regulations, and an aging US population.

There are various types of skin diseases reported such as acne, cold sore, blister, hives, actinic keratosis, rosacea, carbuncle, latex allergy, eczema, psoriasis, cellulitis, measles, basal cell carcinoma, melanoma, lupus, dermatitis, keratosis, pilaris, ringworms, melisma and impetigo.

According to American academy of dermatology, acne is the most common skin condition in the United States, affecting up to 50 million Americans annually. It was found that in the year 2013, the cost associated with the treatment of acne in children and young adults exceeded by 1.2 billion USD.

Atopic dermatitis affects nearly 28 million Americans of all ages. It affects 25.0% of children and 2.0%-3.0% of adults. In the year 2013, cost associated with the treatment of atopic dermatitis was 442 million USD. Approximately 7.5 million people in the United States have psoriasis. The cases of psoriasis are very high in the age group between 45 years- 64years. In 2013, the total cost associated with treatment of psoriasis was 63.2 billion USD. Rosacea is the most common skin disease that affects around 16 million Americans. This skin disease is most common in the age group 30 years to 60 years. More than 1.6 million people sought treatment for rosacea which cost around 243 million USD.

According to U.S. food & drug administration there are more than 3 million cases of impetigo in the United States every year. According to skin cancer foundation, one in five Americans will develop skin cancer by the age of 70 years. Actinic keratosis is the most common pre cancer; it affects more than 58 million Americans. The annual cost of treating skin cancers in the U.S. is estimated at 8.1 billion USD, about 4.8 billion USD for non-melanoma skin cancers and 3.3 billion USD for melanoma.

As the year passes on the severity and prevalence of skin diseases is on the rise providing a huge scope for topical drug market in future.

High incidence of burn injuries:

Local treatment of burn wounds includes cleansing and debridement and routine burn wound dressing changes. According to American burn association in 2016, there were 486,000 people receiving burn injuries medical treatment.

According to American burn association in 2002, each year in the United States, 1.1 million burn injuries require medical attention. Approximately 50,000 of these require hospitalization; 20,000 had major burn involving at least 25.0% of their total body surface.

According to world health organization, in 2004, nearly 11 million people worldwide were burned severely enough to require medical attention. In India, over 1 000 000 people are moderately or severely burnt every year. Nearly 173,000 children in Bangladesh are moderately or severely burnt every year. In 2008, over 410,000 cases of burn injuries occurred in the United States, with around 40, 000 people requiring hospitalization and these cases are on the rise each year.

The need for the topical agents to prevent burnt skin from bacterial infection is giving a push to this market.

Some of the major market players in this market are Nestlé Skin Health, Novartis AG, Sanofi, ALLERGAN, Valeant, GlaxoSmithKline plc, Pfizer Inc, Abbott, Bayer AG, Johnson & Johnson Services, Inc, Crescita Therapeutics Inc, MedPharm, 3M, Janssen Global Services, LLC, Cipla Inc, L’OREAL, Salvepharma, Tergus Pharma, ciaga, Alna Biotech Pvt. Ltd, Rezicure Pharmaceuticals, Aurelderma.

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