Topical Drug Delivery Market – Major Industry Growth Driving Factors – Exclusive Report by MarketsandMarkets™

Posted on 2021-09-14 by MarketsandMarkets in Pharmaceuticals // 0 Comments

PUNE, India, 2021-Sep-14 — /EPR Network/ —

According to the new market research report “Topical Drug Delivery Market by Type (Semisolids (Creams, Ointments, Gels, Lotions, Liquids, Solids, Transdermal Products), Route (Dermal, Rectal, Vaginal), Patient Care Setting (Homecare, Hospital, Burn Center) COVID-19 Impact – Global Forecast to 2025″ 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.

Browse and in-depth TOC on “Topical Drug Delivery Market”
276- Tables
42- Figures
275 – Pages

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Objectives of the Study:

# To define, describe, and forecast the topical drug delivery market by product, route of administration, facility of use, and region.

# To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).

# To strategically analyze micromarkets for individual growth trends, prospects, and contributions to the overall topical drug delivery market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To strategically analyze the market structure and profile the key players of the topical drug delivery market and comprehensively analyze their core competencies.

# To forecast the size of the market segments in four main regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

# To track and analyze competitive developments such as product launches, expansions, acquisitions, partnerships, collaborations, and agreements.

# To benchmark players within the topical drug delivery market using the “Competitive Leadership Mapping” framework, which analyzes market players on various parameters within the broad categories of business and product strategy.

Market Size Estimation:

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by product, route of administration, facility of use, and region).

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Expected Revenue Surge:

The topical drug delivery 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.

Data Triangulation:

After arriving at the market size, the total topical drug delivery market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation, and market breakdown procedures were employed, wherever applicable.

Restraint: Preference for alternative modes of drug delivery

Several alternative drug delivery modes are 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. No special training is required for the administration of these drugs as compared to topical formulations. Injectables also witness widespread use—for example, insulin injections for diabetics to self-administer.

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.

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