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Topical Drug Delivery Market

Topical Drug Delivery Market Size, Share, Development, Growth and Demand Forecast to 2023

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Report Code: LS11105
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Category : Healthcare

Market Overview

Drugs that are applied to a local area on the body are known as topical drugs. Many creams and balms that are used for skin treatment are frequently called topical drug. Topical drug delivery market offers an alternative drug delivery system to treat many diseases and related conditions such as psoriasis, ringworm, rashes & blisters and others. The topical drug delivery has turned out to be progressively essential in the pharmaceutical industry. Eye drops for ophthalmic use and various drugs utilized for inward breath in respiratory conditions such as asthma are also frequently known as topical medications. Topical medications have a local effect that means the effect of the drug will be only in the area where the drug has been applied; however, some topical medications can also have a systemic effect.

The global topical drug delivery market is segmented on the basis of the product type, route of administration, indication for which the drug is used and its end users. Based on product type the market is segmented into formulations and devices, formulations are further sub-segmented into solid, liquid and semi-solid formulations, and devices. Semi-solid formulations include ointment, cream, gel lotion and paste and had a major contribution in the global topical drug delivery market in 2016, as compared to other sub-segments. The major factors driving the growth of semi-solid formulations include increasing rate of blood donations and rise in the number of surgical procedures such as organ transplantation where these formulations are widely used.

On the basis of route of administration, global topical drug delivery market is segmented into skin, ophthalmic, nasal, rectal and vaginal drug delivery routes. Skin drug delivery holds the largest share of the global market, which is attributable to the high incidence of skin diseases, rise in the demand for self-administered drugs, and the increasing number of product approvals for skin-related drug delivery systems.

On the basis of indications, the topical drug delivery market is segmented into acne, anesthetics, actinic keratosis, dermatitis & atopic dermatitis, rosacea, onychomycosis, psoriasis, alopecia and various other diseases.

The hospitals and private clinics are the major end-users of the global topical drug delivery market. The other end users of topical drug delivery include home care settings, diagnostic centres and others.

Market Dynamics

Growth Drivers

There are various factors that drive the growth of the topical drug delivery market including the increasing prevalence of dermal diseases, development of high technology in topical drug delivery systems, high number of cases of burn injuries, and increasing prevalence of diabetes, globally. According to the World Health Organization (WHO), the prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014, globally. Also, the WHO estimates that, diabetes would be the seventh leading cause of death, by 2030.

Restraints

The applicability of topical drug delivery systems to a limited number of therapeutic areas and increasing number of product recalls are some of the key barriers for the growth of the global topical drug delivery market.
Opportunity

The factors that could serve as an opportunity for the players in topical drug delivery market are the increasing innovations in the field of science that have led to the development of biologics which can be used for transdermal delivery of drugs. Moreover, larger players in the topical drug delivery industry are acquiring smaller firms to gain increased market share in this field and also to acquire their technologies made in the field of topical drug delivery.

Insights by Geography

North America held the largest share of the global topical drug delivery market in 2016, mainly due to the presence of large number of pharmaceutical companies. However, the topical drug delivery market in the Asia-Pacific is expected to witness the highest growth during the forecast period (2017-2023). The high growth in the Asia-Pacific can be attributed to the rising ageing population, increasing healthcare expenditure, rising disposable income, and growing focus of global pharmaceutical companies on the markets in emerging economies of the region. According to the information published by Pharmaceuticals Research and Manufacturers of America (PhRMA), the member organizations of PhRMA spent approximately $58.8 billion on R&D, accounting for the larger part of all the biopharmaceutical R&D spending in the U.S., in 2015. Thus, the well-established pharmaceutical industry in the U.S. is a favorable factor for the growth of the North America topical drug delivery industry.

Competitive Landscape

The high emergence and prevalence of novel diseases has led to the development of new medicines, and different companies are collaborating to strengthen their position in the market.

In January 2017, the United States Food and Drug Administration approved Rhofade (oxymetazoline hydrochloride) manufactured by Allergan plc for the topical treatment of persistent facial erythema associated with rosacea in adults. Rhofade is cream based formulation intended for topical administration.

In December 2016, Sienna Biopharmaceuticals, Inc., announced that it had acquired Creabilis plc, a company focused on developing topical treatments for inflammatory diseases including atopic dermatitis, psoriasis and pruritus. The acquisition was done to acquire patented and first-in-class late-stage clinical candidates, including topical TrkA/janus kinase 3 (JAK3) inhibitor (SNA-125, formerly CT340) and Phase IIb topical tropomyosin receptor kinase A (TrkA) inhibitor (SNA-120, formerly CT327) for the treatment of skin conditions such as psoriasis and pruritus.

Some of the other key players operating in the global topical drug delivery market include Crescita Therapeutics Inc., SOLVAY S.A., Bayer AG, Cipla Limited, Galderma S.A, GlaxoSmithKline PLC, Janssen Global Services, LLC. (Johnson and Johnson), Novartis International AG, Sienna Biopharmaceuticals, Inc., Allergan PLC.

MARKET SEGMENTATION

By Product Type

  • Formulation
    • Semi-solids
      • Ointments
      • Creams
      • Gels
      • Lotions
      • Pastes
    • Liquids
      • Suspensions
      • Solutions
    • Solids
      • Powders
      • Suppositories
  • Devices (Transdermal Drug Delivery)
    • Patches
    • Gels

By Route of Administration

  • Skin
  • Ophthalmic
  • Rectal
  • Vaginal
  • Nasal

By Indications

  • Acne
  • Anaesthetics
  • Psoriasis
  • Dermatitis & Atopic Dermatitis
  • Rosacea
  • Onychomycosis
  • Alopecia
  • Actinic Keratosis
  • Others

By End User

  • Hospitals and Private Clinics
  • Home Care Settings
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • South Africa
    • Rest of MEA

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