Global Topical Drug Delivery Market is expected to reach USD 217.8 million by 2027

Global market trend:

The global topical drug delivery market is expected to reach USD 217.8 million by 2027, growing at a CAGR of 7.1% from 2017 – 2027. Factors such as better therapeutic efficacy and safety of the pharmaceutical product through topical delivery are few factors which would drive the market growth. Furthermore, topical delivery has proved to be one of the most favoured routes for local delivery of therapeutic agents owing to its increased convenience and affordability, which would in turn boost the market development.

Key Market Players:

Key market players operating in the global topical drug delivery market are Galderma S.A., Bayer AG, 3M Company, Mylan Pharmaceuticals, Inc., Novartis AG, GlaxoSmithKline, Tapemark, Crescita Therapeutics, Inc., The Lubrizol Corporation, Janssen Global Services, LLC, Valeant, Cipla Ltd. and others.

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Segment Analysis:

Based on formulation, the global topical drug delivery market has been segmented into liquid, semi-solid, solid and aerosol.Semi-solid dominated the formulation segment in 2016 due to better patient compliance and drug termination cases which can be facilitated with semi-solid formulation as compared to other routes. In addition, semi-solid dosage form is also expected to witness the maximum growth rate as it is the most convenient for patients who have difficulty in oral administration.

Based on route of administration, the topical drug delivery market has been categorized into skin, ophthalmic, rectal, vaginal and nasal. Skin occupied the largest share in the global market in 2016 and is also expected to grow at the swiftest growth rate during the forecast period. Skin penetrates deeper and hence give better absorption of the pharmaceutical product. Furthermore, increasing incidence of skin disorders is also responsible for the growth of the segment.

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Geographical Analysis:

Based on geography, the topical drug delivery market has been segmented into North America, Europe, Asia Pacific, Latin America and Rest of the World. North America is the dominating region in the global market due to increasing incidence of skin diseases including scleroderma, psoriasis, and others. Such large base of skin problem-affected target population would propel the growth of topical drug delivery market in North America.

Asia Pacific is expected to foresee the highest growth rate during the forecast period due to greater technological advancement and considerable healthcare expenditure.Moreover, the government of Asia Pacific countries are actively investing for improvement of healthcare services in the country to offer better healthcare facilities to its population, thereby indirectly contributing towards the growth of market.

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Segments Covered:

Formulation Segment (Revenue, USD Billion, 2015 – 2027)
Liquid
Semi-solid
Solid
Aerosol

Route of Administration Segment (Revenue, USD Billion, 2015 – 2027)
Skin
Ophthalmic
Rectal
Vaginal
Nasal

Regional Segment (Revenue, USD Billion, 2015 – 2027)
North America
S.
Canada
Europe
K.
Germany
Asia Pacific
Japan
China
Latin America
Brazil
Mexico
MEA
South Africa

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This release was published on openPR.