Topical Drug Delivery Market: Global Industry Analysis, Key Players, Growth Rate, Opportunity and Forecast 2017 to 2024
Topical drug delivery is one of the most effective ways of drug delivery as it gives optimum therapeutic outcomes. Gradually, the topical drug delivery system has become increasingly important in the pharmaceutical industry. The pharmacological response, both the desired therapeutic effect and the undesired unfavourable effect of a drug is dependent on the concentration of the drug at the place of action, which in turn depends upon the dosage form and the extent of absorption of the drug at the site of action.
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Some of the major players operating in this market are MedPharm, Janssen Pharmaceuticals, Inc. (Johnson & Johnson Services Inc A J&J Company), Crescita Therapeutics, Galderma S.A., Biofarmitalia s.r.l, Pharmatek Laboratories, Inc., Stiefel Laboratories, Inc., Tapemark, Acrux Limited, Nitto Denko Corporation, Valeant Pharmaceuticals International, Inc., Skinvisible Pharmaceuticals, Inc., Mylan Pharmaceuticals Inc., Hisamitsu Pharmaceutical Co., Inc., Pocono Coated Products LLC, TheraSolve NV., Samyang Biopharmaceuticals Corporation, Lohmann Therapie-Systeme AG, Prosollus Pharmaceuticals, Easton Pharmaceuticals Inc., Novosis AG, Antares Pharma, Inc., Endo Pharmaceuticals Inc., Transdermal Technologies, Inc., Sheffield Pharmaceuticals, Inc., Solvay, and 3M Drug Delivery Systems.
Company Share Analysis:
The North America topical drug delivery market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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The Global Topical Drug Delivery Market is segmented on the basis of product type, indication, distribution channel, end user and geography.
On the basis of product type the market is segmented into transdermal drug delivery devices and topical drug delivery formulations.
The topical drug delivery market is segmented on the basis of indications into 4 types such as acne, anesthetics, psoriasis, dermatitis & atopic dermatitis, rosacea, onychomycosis, alopecia, actinic keratosis, and others. In 2017, anti-acne is expected to dominate the market with the highest market share in the forecast period 2017 to 2024.
On the basis of end users the market is segmented into hospitals, home healthcare, clinics, diagnostic centers, and others. In 2017, the hospitals segment is expected to dominate the global topical drug delivery devices market with more than 40% market share.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others.
North America Topical Drug Delivery Market is expected to reach USD 89.3 billion by 2024 from USD 48.0 billion in 2016, growing at a CAGR of 8.0% in the forecast period 2017 to 2024. The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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