Global Topical Drug Market Analysis to Grow at a CAGR of 6.8% till 2024

Data Bridge Market Research Presents new market report “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, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

The topical drug market accounted to USD 120.2 billion in 2016 growing at a CAGR of 6.8% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Topical drugs are used for topical medication and are applied on the body surface. The topical drugs are in the form of creams, foams, gels, lotions, and ointments.

Competitive Analysis: Topical Drug Market

The global topical drug market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of topical drug market for global, Europe, North America, Asia Pacific and South America.

Major Market Competitors: Topical Drug Market

Some of the major players operating in topical drug market are Glaxosmithkline PLC, Johnson & Johnson, Novartis AG, Galderma S.A., Valeant Pharmaceuticals International, Inc., Bayer AG, 3M Drug Delivery Systems, Crescita Therapeutics Inc., Medpharm, Cipla among others.

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Major Market Drivers and Restraints:

• Increasing prevalence of skin diseases
• R&D investments by pharmaceutical companies
• Increased demand of painless treatment
• Stringent government regulation
• Various instances of product recalls

Market Segmentation: Topical Drug Market

By technology the market for topical drug is segmented into liquid, semi-solid, solid. The liquid segment is sub-segmented into solutions, suspensions.

By disease the topical drug market is segmented into dermatology, ophthalmology, rectal, genecology, respiratory.

On the basis of end-users the topical drug market is segmented into hospitals, clinics, ambulatory center.

On the basis of geography, topical drug market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

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