Topical Drug Delivery Market - Role of the Major Leaders in the Global Industry Growth


Posted October 26, 2020 by mmvaidya

The topical drug delivery market is consolidated at the top with a large number of leading market players based in developed countries.
 
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

The Drug Delivery Through Skin 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.

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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) and Sun Pharmaceuticals (India).

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.

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 Drug Delivery Through Skin 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.

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North America is expected to hold the largest share for players operating in the topical drug delivery market

North America accounted for the largest share of the topical drug delivery market in 2019. Factors such as presence of a highly developed healthcare system and a large number of topical drug-manufacturing companies in the country are among the few factors expected to contribute to the growth of this market. Furthermore, the growing geriatric population in the US, high disposable incomes, increasing preference for pain-free drug delivery solutions, and the availability of advanced and effective technology are driving market growth in North America.

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Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags Drug Delivery Through Skin Market , Drug Delivery Through Skin
Last Updated October 26, 2020