Topical Dispenser Market anticipated to reach USD 631.8 billion by 2027

Global Topical Dispenser Market appraised at USD 418 billion in 2019 and is anticipated to reach USD 631.8 billion by 2027, at a CAGR of 5.3 % during the projection period. Topical applicators are used to administer peels and skin protectants, ointments, gels, creams, masks, disinfectants, and drugs. As more topical medications are being prescribed and introduced, the request for topical applicators is estimated to surge. Metered topical applicators ensure the precise quantity of drug/balm/cream/other medication for application on the body surface.

The thematic device is user-friendly and dispenses the specified amount of medication with just one click. Topical applicators are reliable as they deliver automatic and consistent doses, assuring the same viscosity and no user-variability. They offer accuracy during the mixing and filling of the product and negate the chances of excess medication.

The primary reason for propelling the development of topical applicators is the growing need for medicine's contactless administration, assuring no transmission of bacteria carrying the infection. Besides, precision in dispensing medicine is another significant benefit and reason driving the global topical applicators market during the prediction period. High demand for topical applicators is being witnessed from the skincare sector. Topical applicators are widely used in dermal therapies and particularly for psoriasis. A large number of dermal medicinal applications are topical and require topical applicators for safe, secure, and precise administration. The therapeutic industry development in countries like China and India is predicted to push the topical applicators market during the prediction period.

Semi-solid formulations segment plays a significant role in the Topical Dispenser Market

Based on the product, the market is divided into semi-solid formulations (creams, pastes, gels, ointments, and lotions), liquid formulations (solutions and suspensions), solid formulations (suppositories and powders) and transdermal products (transdermal patches and transdermal semi-solids). The semi-solid formulations section captured the significant share of the market in 2019. The semi-solid arrangements offer advantages of faster drug release and better acceptability of topical gels by the patient. Extensive use of topical pastes to avoid skin irritation, infectiousness, and the possibility of quick removal of creams for curing various ailments related to different skin types is the dominant element stimulating this market's growth.

Homecare Settings dominates as a facility of use

Homecare settings accounted for the significant share of the market in 2018. Home care settings eliminate the need for patients to travel to healthcare facilities, thus saving time and money. Owing to convenience and affordability, a growing number of patients are opting for home-based cures. These factors reassure the growth of this market segment.

Drivers

Increasing prevalence of psoriasis and a rising aging population with skin diseases

Psoriasis is a long-lasting, sore, and non-communicable disease. It is most common in the geriatric population with age group 50 - 69. As per the National Psoriasis Foundation Report 2018, around 125 million people are under the distress of psoriasis worldwide. It has amplified the demand for topical dispensers in the industry. Skin diseases are the significant problems accounting for 1.79% of the global burden of diseases in DALYs of 306 diseases and injuries. As per the WHO, approximately 900 million people worldwide were suffering from skin ailments in 2018. This scenario is eventually growing the request for the topical dispenser, thereby fueling the market's development.

Easy use of Topical applicators

The precise and easy administration of medication with the topical applicators is the primary factor leading the global topical applicators market during the forthcoming period. Growing demand is being witnessed from the skincare sector, for different therapies and treatments, particularly for psoriasis. A large number of medications concerning skin are topical and need topical applicators for safe use. Metered topical applicators safeguard the application of the right quantity of ointment on the body external. They are dependable devices for the automated and accurate dose, reducing variability, and delivering uniform viscosity.

North America projected to witness significant growth in the market during the forecast period

North America dominated the market in 2019 and is expected to observe the highest CAGR during the prediction period. The prevalence of skin diseases, rising approvals and launches of innovative topical formulations in the region, and growing funding for topical drugs' development are some of the key elements driving this regional segment's growth. Emerging pharmaceutical industry in countries like China and India is expected to propel the topical applicators market during the forecast period. Europe is more evolved as topical applicators market compared to other regions such as Asia and MEA. The GCC countries and North Africa are anticipated to witness a medium to high growth in the topical applicators market during this period.
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This release was published on openPR.