Topical Drug Delivery Market – Global Leaders and Their Contribution in Industry Growth

PUNE, India, 2021-Mar-30 — /EPR Network/ —

This market is projected to reach USD 129.8 billion by 2025 from USD 95.2 billion in 2020, at a CAGR of 6.4% during the forecast period. The growth of this market is majorly driven by the high prevalence of skin and soft tissue infections, the increasing prevalence of eye diseases, and burns. However, the presence of alternative drug delivery modes such as oral and injectable routes is expected to restrain the growth of this market during the forecast period.

Coronavirus has spread across 215 countries and territories and affected more than 24.6 million people, with close to 835,000 deaths as of August 2020. Due to the COVID-19 outbreak, we are estimating that the share of the nasal drug delivery segment has increased, and this segment is anticipated to grow significantly during the forecast period. COVID-19 has given momentum to various drug delivery technologies in the market. As a result, this market is expected to witness significant growth from 2020 to 2021.

The semi-solid formulations segment is expected to grow at the highest CAGR during the forecast period

Based on the product, the topical drug delivery market is segmented into semi-solid formulations, liquid formulations, solid formulations, and transdermal products. The semi-solid formulations segment is projected to witness the highest growth in the topical drug delivery market during the forecast periods (2020-2025). Growth in this segment is driven mostly by the easy application of semi-solid formulations, and their ability to deliver a wide variety of drug molecules.

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Janssen Global Services LLC, a subsidiary of Johnson & Johnson provides medicines for an array of health concerns in several therapeutic areas, such as general medicine, mental health, neurology, pain management, and women’s health. To maintain its leading position in the market, the company focuses on acquisitions. For instance, in January 2018, Johnson & Johnson entered into a definitive agreement to acquire Ci:z Holdings Co., Ltd. (Japan). The acquisition gives J&J access to Ci:z Holdings’ line of topical skin health products, helping it diversify its drug portfolio in Japan and other Asia Pacific countries.

Galderma, a subsidiary of Nestlé, is a provider of dermatology solutions and aesthetic and corrective products internationally. The company offers a broad portfolio of topical products, which include drugs, medical dermatology solutions, and therapeutic skin care products that are used in the treatment of hair, nail, and skin diseases. The company focuses on product approvals, product launches, and expansions to maintain its leading position in the topical drug delivery market.

Novartis manufactures healthcare and pharmaceutical products. It operates in three segments—Pharmaceuticals, Alcon (Eye Care), and Sandoz (Generics). The company has a broad range of access-to-medicine programs, which include drug donations, social business initiatives, and patient assistance programs. Novartis has a presence in over 155 countries, including the US, Europe, Asia, Africa, and Latin America. In order to maintain its leading position, the company significantly invests in R&D activities, which helps it to develop and launch new and advanced products. In 2018, the company invested 12.6% of its total revenue on R&D activities. A diversified product portfolio, wide geographical reach, and constant focus on R&D have enabled the company to create a strong foothold in the topical drug delivery market.

The topical drug delivery market is consolidated at the top with a large number of leading market players based in developed countries. The prominent players operating in this market include Johnson & Johnson (US), Nestlé SA (Switzerland), Novartis AG (Switzerland), GlaxoSmithKline (UK), Bausch Health Companies (Canada), Merck & Co (US), Bayer AG (Germany), Hisamitsu Pharmaceutical (Japan), Glenmark Pharmaceuticals (India), Cipla Ltd (India), Crescita Therapeutics Inc. (Canada), Mylan (US), Encore Dermatology, Inc. (US), LEO Pharma (Denmark), Almirall, S.A (Spain), Aclaris Therapeutics, Inc. (US), Taro Pharmaceutical Industries Ltd. (US), Teligent Pharma (US), Perrigo Pharma (US), Allergan (Ireland), Biofrontera, Inc. (US), Crown Laboratories Inc. (US), Akorn Inc. (US), Ingenus Pharmaceuticals (US), and Sun Pharmaceuticals (India).

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