Topical Drug Delivery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Topical Drug Delivery Market Analysis
The Topical Drug Delivery Market is expected to witness a CAGR of 8.5% during the forecast period (2022 - 2027).
The COVID-19 pandemic has posed serious challenges to healthcare systems in Europe and has largely been controlled by drastically cutting down in- and outpatient services for diseases and implementing infection prevention and control measures. The lockdown all over the globe has affected the supply chain of drugs and products. The pandemic has significantly impacted the growth of the topical drug delivery market due to the pandemic situation and restrictions, healthcare settings such as hospitals and specialty clinics were temporary. For instance, an article published by the Dermatological Practical and Conceptual, in January 2021, titled 'Impact of the COVID-19 Pandemic on Dermatology Practice Worldwide: Results of a Survey Promoted by the International Dermoscopy Society (IDS)', it has been observed that the outbreak had a detrimental impact on the majority of dermatology services, leading to a considerable decrease in the amount of time spent consulting with patients and a higher likelihood of missed or delayed diagnoses of skin diseases. Thus, the decreased consulting time spent with patients resulted in a significant drop in patient visits, which has impacted the demand for treatment and services and has negatively impacted the market growth.
However, due to several disadvantages, such as discomfort and needle phobia, the requirement for two doses, the need for trained medical professionals to administer the vaccine, and barriers to international distribution due to the requirement for a cold supply chain, the demand for the transdermal delivery has increased. For instance, according to an article published by SAGE Journal, in August 2021, titled 'Transdermal approaches to vaccinations in the COVID-19 pandemic era', the potential of transdermal approaches, such as microneedle (MN) patches, as an alternative modality for painless medication delivery in COVID-19, has recently been explored. In addition, it has been observed that the successful development of microneedle (MN) patch vaccines has a substantial impact on future vaccine delivery and the decrease of the COVID-19 disease burden. Thus, the increasing clinical studies for topical delivery of vaccines in COVID-19 are expected to increase the market growth over the forecast period.
Certain factors that are propelling the market growth are the high prevalence of skin diseases and technological advancements and innovations.
The rising prevalence of skin diseases such as eczema, psoriasis, acne, cold sore, hives, eczema, and others are the key factors driving the market growth. For instance, according to an article published by StatPearls, in August 2021, titled 'Eczema', it has been observed that the lifetime prevalence of eczema in children is between 15-30% and 2-10% in adults. In addition, as per the same source, about 50% of the patients with severe atopic dermatitis are likely to develop asthma and 75% are likely to develop allergic rhinitis. Additionally, an article published by the Journal of the European Academy of Dermatology and Venerology, in February 2022, titled 'Incidence, prevalence, and risk of acne in adolescent and adult patients with atopic dermatitis: a matched cohort study', it has been observed that in both the general population and atopic dermatitis patients, the 12-month prevalence of acne was 3.7% and 3.9%, respectively. Also, the highest incidence rate of acne was found in atopic dermatitis patients aged 12-18 years, and women with atopic dermatitis had a somewhat greater incidence of acne than men. Furthermore, as per the same source, in comparison to controls, the risk ratio for acne rose with age, reaching 1.41 for patients between the ages of 30 and 39 and 2.07 for patients above the age of 40. Thus, the rising burden of skin diseases among the population is expected to increase the demand for effective and better treatment options which in turn is expected to increase the demand for topical agents, thereby boosting the market growth.
Additionally, the rising technological advancements and innovations are also contributing to market growth. For instance, in March 2022, Galderma launched Twyneo (fixed-dose combination of tretinoin 0.1% and benzoyl peroxide 3%) cream for the topical treatment of acne vulgaris in patients 9 years of age and older. Also, in December 2020, the United States Food and Drug Administration approved Almirall's Klisyri (tirbanibulin) for the topical treatment of actinic keratosis (AK) of the face or scalp.
However, the regulatory scenarios and pricing pressure, and high frequency of product recalls are some factors that are hindering the market growth over the forecast period.
Topical Drug Delivery Market Trends
This section covers the major market trends shaping the Topical Drug Delivery Market according to our research experts:
Patch Segment is Expected to Hold Major Share in the Topical Drug Delivery Market Over the Forecast Period
The major factors attributing to the market's growth are the increasing advantages of transdermal medicine such as ow rejection rate, excellent ease of administration, and outstanding patient convenience and persistence, over oral and ingesting medications (medications for gastrointestinal toxicity) that result in nausea and vomiting.
Due to its non-invasive nature, patches decreased the inconvenience brought on by parenteral or intravenous therapies. Patches also provide a controlled release of the drug to the patient, usually through a perforated membrane covering the drug reservoir or by body temperature dissolving thin layers of medication embedded in the adhesive.
In addition, the rising incidences of migraine, hormone disturbances, joint pain, cardiovascular diseases, neurology disease, and smoking are also contributing to the growth of the studied segment. For instance, according to the "World Alzheimer Report 2021" published in September 2021, over 55 million people live with dementia worldwide in 2020. In addition, this number is projected to reach 78 million by 2030. Additionally, according to the statistics published by the Continence Foundation of Australia, in August 2021, in Australia 10% of men and 38% of women are affected with urinary incontinence (overactive bladder). This is expected to increase the demand for non-invasive patches to deliver the drug directly into the bloodstream through the skin, thereby boosting segment growth.
Furthermore, the rising company activities in developing products and increasing product launches are expected to boost segment growth. For instance, in November 2021, Nexgel launched MEDAGEL Migraine Relief Patch. The patches draw heat away from the body using Nexgel's proprietary hydrogel technology, giving immediate and long-lasting cooling relief from migraines, hormonal headaches, and fevers. Also, in June 2021, Luye Pharma Group launched the Rivastigmine Transdermal Patch in China for the treatment of mild to moderate Alzheimer's disease. Similarly, in July 2021, Hisamitsu received approval for manufacturing and market OABLOK PATCH, for the treatment of overactive bladder, in Thailand.
Moreover, the increasing government funding for increasing the demand and adoption of patches for delivering the COVID-19 vaccine is also contributing to the growth of the segment. For instance, in July 2020, Innoture received funding from the Welsh Government of about GBP 200,000 for its, Self-Administration of SARS-CoV-2 Vaccine via Microlithographic 3D printed Microstructure Patches, project. Such developments are expected to accelerate segment growth, thereby propelling market growth.
Thus, owing to the aforementioned factors the studied market is expected to grow over the forecast period.
North America is Expected to Dominate the Topical Drug Delivery Market Over the Forecast Period
North America is expected to dominate the topical drug delivery market owing to the factors such as the increasing incidence and prevalence of skin diseases and related conditions, rising healthcare spending, and growing company activities.
The rising burden of skin diseases among the population is the key factor driving the market growth. For instance, as per the GLOBOCAN 2020 fact sheet, about 105,000 new cases of melanoma skin cancer were reported in the North American region in 2020, and this number is projected to reach 142,000 by the year 2040. This growing burden of skin-related conditions is expected to accelerate the market growth. Additionally, according to the 2022 statistics published by the American Academy of Dermatology Association, in the United States, acne is the most prevalent skin disorder, affecting up to 50 million people each year. Thus, the increasing number of cases of skin disease is expected to increase the demand for effective topical treatments, which in turn is anticipated to fuel the market growth over the forecast period.
In addition, the rising healthcare spending in the region is expected to increase the company's activities for developing advanced treatment, thereby propelling the market growth. For instance, according to the Organization for Economic Co-operation and Development (OECD), in June 2022, United States healthcare spending, in 2021 was 17.8% of the total GDP of the country. Additionally, as per the data published by the Centers for Medicare & Medicaid Services, in March 2022, titled 'CMS Office of the Actuary Releases 2021-2030 Projections of National Health Expenditures', it has been observed that the annual growth in national health spending is expected to average 5.1% over 2021-2030. In addition, the National Health Spending in 2020 was USD 4.1 trillion and it is projected to reach USD 6.8 trillion by 2030.
Furthermore, the increasing product launches and approvals in the region are also contributing to the growth of the market. For instance, in June 2022, the United States Food and Drug Administration approved Zydus's Adapalene and Benzoyl Peroxide Topical Gel, which is indicated to decrease the number and severity of acne pimples. Also, in May 2022, the United States Food and Drug Administration approved Dermavant's VTAMA (tapinarof) cream, 1%, an aryl hydrocarbon receptor agonist, for the topical treatment of plaque psoriasis in adults.
Thus, owing to the aforementioned factors the studied market is expected to grow over the forecast period.
Topical Drug Delivery Industry Overview
The topical drug delivery market is moderately fragmented. The major players in the topical drug delivery market include Bayer AG, Cipla, Viatris, GlaxoSmithKline PLC, Galderma Holding SA, Novartis AG, Med Pharm, Johnson & Johnson (Janssen Pharmaceutical), and Hisamitsu Pharmaceuticals.
Topical Drug Delivery Market Leaders
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Hisamitsu Pharmaceuticals
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Bayer AG
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Novartis AG
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Galderma Holding SA
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GlaxoSmithKline PLC
*Disclaimer: Major Players sorted in no particular order
Topical Drug Delivery Market News
- In July 2022, the United States Food and Drug Administration approved Aleor Dermaceuticals, a subsidiary of Alembic Pharmaceuticals, Abbreviated New Drug Application (ANDA) for Diclofenac Sodium Topical Gel, 3%, for the topical treatment of actinic keratoses.
- In July 2022, the United States Food and Drug Administration approved Arcutis Biotherapeutics's New Drug Application (NDA) for ZORYVE (roflumilast) cream 0.3% for the treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age or older. ZORYVE provides rapid clearance of psoriasis plaques and reduces itch in all affected areas of the body.
Topical Drug Delivery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Prevalence of Skin Diseases
4.2.2 Technological Advancements and Innovations
4.3 Market Restraints
4.3.1 Regulatory Scenario and Pricing Pressure
4.3.2 High Frequency of Product Recalls
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD million)
5.1 By Route of Administration
5.1.1 Dermal
5.1.2 Ophthalmic
5.1.3 Nasal
5.1.4 Oral
5.1.5 Others
5.2 By Product
5.2.1 Formulation
5.2.1.1 Solid
5.2.1.2 Semi-Solid
5.2.1.2.1 Creams
5.2.1.2.2 Ointment
5.2.1.2.3 Others
5.2.1.3 Liquid
5.2.2 Device
5.2.2.1 Inhaler
5.2.2.2 Patch
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bayer AG
6.1.2 Cipla Limited
6.1.3 Viatris
6.1.4 Glaxosmithkline PLC
6.1.5 Hisamitsu Pharmaceuticals
6.1.6 Johnson & Johnson (Janssen Pharmaceutical)
6.1.7 Medpharm
6.1.8 Galderma Holding SA
6.1.9 Novartis AG
6.1.10 Bausch Health Companies Inc.
6.1.11 3M
6.1.12 Pfizer Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Topical Drug Delivery Industry Segmentation
As per the scope of the report, topical drug delivery is a medication that is topically applied to a particular place or on the body. Topical drug delivery systems are preferably used to treat common skin diseases such as bacterial infections, fungal infections, inflammations, acne, psoriasis, hair, and skin problems. The Topical Drug Delivery Market is Segmented by Route of Administration (Dermal, Ophthalmic, Nasal, Oral, and Others), Product (Formulation and Device), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Topical Drug Delivery Market Research FAQs
What is the current Global Topical Drug Delivery Market size?
The Global Topical Drug Delivery Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Global Topical Drug Delivery Market?
Hisamitsu Pharmaceuticals, Bayer AG, Novartis AG, Galderma Holding SA and GlaxoSmithKline PLC are the major companies operating in the Global Topical Drug Delivery Market.
Which is the fastest growing region in Global Topical Drug Delivery Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Topical Drug Delivery Market?
In 2024, the North America accounts for the largest market share in Global Topical Drug Delivery Market.
What years does this Global Topical Drug Delivery Market cover?
The report covers the Global Topical Drug Delivery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Topical Drug Delivery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Topical Drug Delivery Industry Report
Statistics for the 2024 Topical Drug Delivery market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Topical Drug Delivery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Topical Drug Delivery Market Report Snapshots
