Topical Drug Delivery Market To Receive Overwhelming Hike in Revenues By 2030

According to the Market Statsville Group (MSG), the global Topical Drug Delivery Market size is expected to grow from USD 186.5 billion in 2021 to USD 385.4 billion by 2030, at a CAGR of 8.4% from 2022 to 2030.

The delivery of drugs through topical routes such as the mucosa, skin, or cavities in the body is topical drug delivery. These are used locally to avoid the drug's first-pass effect or for site-specific action. Creams, foams, lotions, gels, ointments, and other medications are included. A topical mode of delivery provides advantages such as site-specificity, elimination of fluctuations in drug levels, improved suitability for self-medication, and improved compliance. The drug concentration at the site of action, which is regulated by the dose form and the degree of drug absorption at the site of action, determines the pharmacological response of a drug, both the optimal therapeutic effect and the undesirable adverse consequence.

The topical medication delivery market is anticipated to be driven by the increased prevalence of skin incidence, including psoriasis and eczema, as well as minor illnesses like acne, as well as an increase in demand for topical drug delivery due to its non-invasive nature.

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COVID-19 Impact on the Global Topical Drug Delivery Market
One of the most common symptoms of COVID-19 was a runny nose, cold, and cough. Nasal sprays were effective in relieving nasal congestion during COVID-19. Amcyte Pharma, for example, introduced its Nasitrol nasal spray (topical solution) for sinus irrigation. The nasal cavity and rhino pharynx were the primary sites of SARS-CoV-2 replication. The spray is designed to reduce viral load in the upper respiratory tract, preventing viruses from multiplying and spreading into the lungs. This increase in nasal sprays that can subdue viral load during COVID-19 has increased demand for topical sprays and foams used to relieve virus-induced nasal congestion.

Global Topical Drug Delivery Market Dynamics
Drivers: High Incidence of burn injuries

The topical drugs has huge demand in the treatment of burn injuries. Topical antimicrobial agents such as Sulfamylon cream (Mylan), Fenistil (GSK), Bactroban (GSK), and Silvadene (Pfizer) are instances of some first-line treatments for burn injuries among patients.

According to the Lancet Public Health, burns will be one of the leading causes of disability in 2021, accounting for more than 8 million disability-adjusted life-years (DALYs). The high prevalence of burn injuries in major global, and regional segments has resulted in sustained demand for topical drugs for effective burn treatment and management. To treat burns, many topical antimicrobial agents are used. An antimicrobial agent such as silver sulfadiazine cream is used to treat wound infections in second and third-degree burns patients. Patients with severe burns or burns over a large area, on the other hand, are treated in a hospital. There are numerous other antibiotic ointments for burns, including over-the-counter options for minor burns.

Restraints: Topical drugs cause chronic skin irritation and allergies

Many topical formulations, such as antibacterial and antifungal preparations, anti-inflammatory and pain-relief preparations, and cleansing and moisturizing agents, are available over the counter. Many inflammatory rashes are treated with topical corticosteroids. However, in some cases, allergic reactions to topical corticosteroids occur. This is usually interpreted as a failure to cure dermatitis or a worsening of existing dermatitis treated with corticosteroids. Corticosteroid allergy can manifest as an eczematous rash in different body parts than original dermatitis. Some topical antibiotics include bacitracin, which prevents minor skin injuries such as cuts, scrapes, and burns and may also cause contact allergies.

Some of the active ingredients that cause allergies are benzocaine and salicylate. These drug allergies can be diagnosed using a patch test that detects contact allergens. Topical medication allergies are more common in older patients, but some patients with pre-existing skin conditions develop allergic reactions to topical medications. In most cases, patients opt for a different type of drug delivery system or a different type of medicine.

Opportunities: Self-administration and home care are becoming increasingly popular

Topical drug delivery market participants should have significant development potential due to the self-administration of medications in home care settings. The primary causes are the rising elderly population and the brief stoppage of routine OPDs during COVID-19. The elderly are a large consumer base for topical drugs in-home care. This factor raises the demand for inhalation, topical, and transdermal drug products that address the needs of caregivers and patients. Transdermal drug delivery improves drug administration by utilizing a transdermal patch that can be easily self-administered. It allows patients to self-administer safely and comfortably. This method contributes to lowering healthcare costs by shortening hospital stays. Caregivers can quickly determine if a transdermal patch is properly applied in this situation. This is one of the primary opportunities to increase demand for transdermal patches, thereby accelerating the growth of topical drug delivery.

Scope of the Global Topical Drug Delivery Market
The study categorizes the topical drug delivery market based on product, route of administration and facility of use at regional and global levels.

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By Product Outlook (Sales, USD Million, 2017-2030)

Semi-Solid Formulations
Creams
Ointments
Lotions
Gel
Pastes
Liquid Formulations
Suspensions
Solutions
Solid Formulations
Powders
Suppositories
Transdermal Products
Transdermal Patches
Transdermal Semi-Solids
By Route of Administration Outlook (Sales, USD Million, 2017-2030)

Dermal Drug Delivery
Ophthalmic Drug Delivery
Rectal Drug Delivery
Vaginal Drug Delivery
Nasal Drug Delivery
By Facility of Use Outlook (Sales, USD Million, 2017-2030)

Home Care Settings
Hospitals & Clinics
Burn Centers
Others
By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
Semi-solid formulations segment accounts for the largest market share by product

Based on the product, the global topical drug delivery market has been categorized into semi-solid formulations, liquid formulations, solid formulations, and transdermal products. The semi-solid formulations segment held the largest market share in 2021. This segment's large share is attributed to the suitability of APIs with low density, which is more robust in atmospheric conditions than liquid and solid forms, and the rise in personalized medicine due to their unique composition and increased absorptive properties. These dosage forms are not dehydrating and do not affect skin function.

North America accounted for the largest market share by Region

Based on the regions, the global topical drug delivery market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America held the largest share of the topical drug delivery market in 2021. The high demand for drugs that can be self-administered, the rising prevalence of skin diseases, the preference for painless drug delivery methods, the rising prevalence of target health conditions, and the rising prevalence of smoking across the globe are all factors that contribute to North America's significant share.

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Key Market Players in the Global Topical Drug Delivery Market
The global Topical drug delivery market is highly competitive with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most companies in the market are focused on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global topical drug delivery market are:

Galderma S.A.
GlaxoSmithKline plc.
Valeant Pharmaceuticals International, Inc.
Crescita Therapeutics Inc.
MedPharm Group Ltd.
3M Company
Bayer AG
Novartis AG
Janssen Global Services, LLC
Cipla
Johnson & Johnson Private Limited

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Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

This release was published on openPR.