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Navigating the Topical Drug Delivery Market: Comprehensive Insights from The Business Research Company's Latest Research Report || Glenmark Pharmaceuticals Ltd., Galderma SA, Johnson & Johnson Private Limited
Topical Drug Delivery Market
The Business Research Company's Topical Drug Delivery Global Market Report 2023 the growing prevalence of diabetes is the major driver for the topical drug delivery market's growth in the forecast period. Diabetes is a group of diseases that affect how the body uses blood sugar and result in high blood sugar levels. Topical drug delivery helps diabetes patients by administering medicines that can bypass hepatic first-pass metabolism. For instance, in December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association 2021, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021.
The global topical drug delivery market size grew from $137.93 billion in 2022 to $150.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The topical drug delivery market size is expected to grow to $210.39 billion in 2027 at a CAGR of 8.7%.
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Major competitors in the topical drug delivery market are Glenmark Pharmaceuticals Ltd., Galderma SA, Johnson & Johnson Private Limited, GlaxoSmithKline PLC., Bausch Health Companies Inc., Cipla Ltd., Bayer AG, 3M, Merck & Co., Inc., Crescita Therpeutics Inc., Novartis International AG.
A key trend in the topical drug delivery market includes technological advancement. Major companies operating in the topical drug delivery market are developing innovative products with advanced technologies to strengthen their position in the topical drug delivery market. For instance, in April 2022, Sol-Gel Technologies Ltd., an Israel-based dermatology company, and Galderma S.A., a Switzerland-based pharmaceutical company specializing in dermatological treatments and skin care products, introduced Epsolay (benzoyl peroxide, cream, 5%), utilizing Sol-Gel's microencapsulation technology for the treatment of inflammatory lesions of rosacea, which is patent protected until 2040.
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The topical drug delivery market is segmented -
• By Product Type: Semi-Solid Formulations, Liquid Formulations, Solid Formulations, Transdermal Products
• By Route Of Administration: Dermal Drug Delivery, Ophthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, Nasal Drug Delivery
• By End User: Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the topical drug delivery market.
The Business Research Company's "Global Topical Drug Delivery Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Topical Drug Delivery Market Include:
1. Executive Summary
2. Topical Drug Delivery Market Characteristics
3. Topical Drug Delivery Market Trends And Strategies
4. Topical Drug Delivery Market - Macro Economic Scenario
5. Topical Drug Delivery Market Size And Growth
……………
27. Topical Drug Delivery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Topical Drug Delivery Market
29. Topical Drug Delivery Market Future Outlook And Potential Analysis
30. Appendix
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