Topical Drug Delivery Market Forecasts to 2028 - Global Analysis By Product (Liquid Formulations, Solid Formulations, Devices (Transdermal Drug Delivery), Semi-Solid Formulations), and By Geography

According to Stratistics MRC, the Global Topical Drug Delivery Market is accounted for $109.80 billion in 2022 and is expected to reach $178.15 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Topical drug delivery refers to the delivery of drugs through topical routes such as the skin, mucosa, or cavities in the body. These are applied locally to avoid the first-pass effect of the drug or for site-specific action. A topical mode of delivery offers benefits such as site-specificity, eliminating fluctuations in the levels of drugs, improved suitability for self-medication, and better compliance.

The total global cell and gene drug delivery devices market was dominated by North America and Europe, which were responsible for than 83 percent of the market all together. It was forecast that this domination will continue until 2030, although the market share in the U.S. was projected to drop some four percent. It was estimated that 60 percent of drugs in the R&D pipeline were with an injectable delivery route, thus making it the top delivery route for drugs in pipeline.

Market Dynamics:

Driver:

Growing prevalence of skin diseases

Growing prevalence of skin disorders and infections including acne, psoriasis, and eczema, rising incidences of minor skin injuries such as skin burns, increasing self-medication practices, and increased consumer spending on dermatological products such as anti-acne and anti-septic creams and gels are among the other key factors expected to drive the global topical drug delivery market. As topical drug delivery is the first line of treatment for the majority of skin diseases, the demand for advanced topical products is expected to increase in the coming years.

Restraint:

Availability of alternative modes of drug delivery

There are several alternative drug delivery modes available for patients and end users. The benefits of these alternatives over topical drug delivery form a key restraint to the growth of this market. Of these, the oral route is the most preferred as it is easy to use, convenient, cost-effective, safe, and acceptable. Furthermore, orally administered drugs can be conveniently stored and are portable, economical, noninvasive, and safe.

Opportunity:

Delivery of biologics through the transdermal route

The delivery of biologics through the transdermal route is one of the emerging trends in the topical drug delivery market. The transdermal delivery of large molecules as an alternative to intramuscular, subcutaneous, or intravenous routes of administration is expected to provide significant patient benefits, such as painless drug delivery and cost-effective treatment.

Threat:

Technical barriers related to skin irritation

The chance for local adverse reactions and skin irritation is a significant challenge for topical drug delivery formulation and transdermal systems. However, the emergence of novel techniques for skin permeation and the development of methods to reduce skin irritation would help widen the topical drug delivery formulations and transdermal systems market for hydrophilic compounds, macromolecules, and conventional drugs for new therapeutic indications.

The home care settings segment is expected to be the largest during the forecast period

The home care settings segment is expected to be the largest during the forecast period owing to the convenience and affordability of topical drugs for home administration. Also, for patients requiring long-term therapy, inpatient care is not only extremely expensive but also prevents patients from resuming a normal lifestyle and work activities. In this regard, technological advancements have helped patients undergo therapies effectively and safely at home.

The dermal drug delivery (skin) segment is expected to have the highest CAGR during the forecast period

The dermal drug delivery segment is expected to witness the highest growth during the forecast period. This can be attributed to the advantages of dermal drug delivery over other topical drug delivery methods, such as convenience and greater patient compliance. Besides, dermal products have fewer regulatory requirements than ophthalmic products, where sterility testing is mandatory.

Region with largest share:

North America is projected to hold the largest market share owing to the growing product launches by various key players in the region. Due to the COVID-19 outbreak, the market is expecting to observe positive growth. This is mainly due to the novel treatment being developed. The growing burden of skin-related conditions is also expected to accelerate the market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR due to the high incidence of skin diseases (such as skin cancer), increasing use of contraceptives, and the growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems.

Key players in the market

Some of the key players profiled in the Topical Drug Delivery Market include Teligent Pharma, Almirall, S.A, Perrigo Pharma, Novartis AG, Bayer AG, Mylan, Merck & Co, LEO Pharma , Johnson & Johnson, Agile Therapeutics Inc., Cipla Ltd, GlaxoSmithKline, Encore Dermatology, Inc., Crescita Therapeutics Inc., Taro Pharmaceutical Industries Ltd, Bausch Health Companies, Glenmark Pharmaceuticals, and Aclaris Therapeutics, Inc.

Key developments:

In February 2021: Almirall and MC2 Therapeutics went under an exclusive agreement for the commercialization of its product 'Wynzora', a topical drug indicated against the treatment of plaque psoriasis.

In December 2020: Agile Therapeutics Inc. introduced Twirla (levonorgestrel and ethinyl estradiol) transdermal system, which is a contraceptive patch.

In August 2020: LEO Pharma received United States Food and Drug Administration approval for its delgocitinib cream for the treatment of moderate-to-severe chronic hand eczema (CHE) in adults.

In November 2018: Bausch Healthcare expanded its manufacturing facility in Rochester in order to support and fulfill the demand of its topical eye health products.

Routes of Administration Covered:

• Vaginal Drug Delivery
• Rectal Drug Delivery
• Ophthalmic Drug Delivery
• Nasal Drug Delivery
• Dermal Drug Delivery (Skin)

Products Covered:

• Liquid Formulations
• Solid Formulations
• Devices (Transdermal Drug Delivery)
• Semi-Solid Formulations

Distribution Channels Covered:

• Retail
• Direct Tenders

Facilities of Use Covered:

• Hospitals & Private Clinics
• Home Care Settings
• Burn Centers
• Other Facilities

Types Covered:

• Hard & Rigid Braces
• Hinged Braces
• Soft & Elastic Braces

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances