According to FutureWise analysis the market for topical drug delivery in 2023 was US$ 226.31 billion, and is expected to reach US$ 454.93 billion by 2031 at a CAGR of 9.1%.
Topical drug delivery involves the delivery of drugs through topical routes such as the skin, mucosa, or cavities. The local application of these drugs helps to prevent first-pass effects or to achieve site-specific effects. Creams, foams, lotions, gels, ointments, and others are included in these medications. There are several benefits of topical application such as site-specificity, elimination of fluctuations in the levels of drugs, suitability for self-medication, and enhanced compliance.The pharmacological response of a drug, both the desired therapeutic effect and the undesired unwanted effect, is determined by the concentration of the drug at the site of action, which is determined by the dosage form and level of absorption at the site of action. In addition to the high prevalence of skin diseases and burning injuries, deep penetration of drugs into the body, growing preference for topical drugs due to their non-invasive nature, and aging population, topical drug delivery is driven by several factors. However, side effects such as allergies and rashes, as well as a slow onset of action limit the market's growth. Factors such as delivery of biologics by transdermal route and the acquisition of small market players are expected to present numerous growth opportunities in the near future.
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Topical Drug Delivery Market Segmentation:
By Product
- Semi-Solid Formulations
- Creams
- Ointments
- Lotions
- Gels
- Pastes
- Liquid Formulations
- Solutions
- Suspensions
- Solid Formulations
- Powders
- Suppositories
- Transdermal Products
- Transdermal Patches
- Transdermal Semi-solids
By Route of Administration
- Dermal Drug Delivery
- Ophthalmic Drug Delivery
- Rectal Drug Delivery
- Vaginal Drug Delivery
- Nasal Drug Delivery
By Facility of Use
- Home Care Settings
- Hospitals and Clinics
- Burn Centers
- Other Facilities
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Competitive Landscape in Topical Drug Delivery Market:
- Johnson and Johnson
- Nestlé SA
- Novartis AG
- GlaxoSmithKline
- Bausch Health Companies
- Merck and Co
- Bayer AG
- Hisamitsu Pharmaceutical
- Glenmark Pharmaceuticals
- Cipla Ltd.
- Crescita Therapeutics Inc.
- Mylan
- Encore Dermatology, Inc.
- LEO Pharma
- Almirall, S.A.
- Aclaris Therapeutics, Inc.
- Taro Pharmaceutical Industries Ltd.
- Teligent Pharma
- Perrigo Pharma
- Allergan
- Biofrontera, Inc.
- Crown Laboratories Inc.
- Akorn Inc.
- Ingenus Pharmaceuticals
- Sun Pharmaceuticals
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**Objectives of this Study: **
- To provide a comprehensive analysis of the Topical Drug Delivery Market By Product, By Route of Administration, By Facility of Use and By Region.
- To offer detailed insights into factors such as drivers, restraints, trends, and opportunities, as well as segmental and regional influences on market growth.
- To evaluate current market trends and forecast micro-markets, presenting overall market projections in the form of data sets and PowerPoint presentations.
- To predict the market size in key regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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