Healthcare

According to a market report by Lucintel, the future of the topical drug delivery market looks promising with opportunities in the home care settings, hospitals & clinics, burn centers, and other facilities. The global topical drug delivery market is expected to reach an estimated $210.4 billion by 2028 with a CAGR of 8.2% from 2023 to 2028. The major drivers for this market are increasing number of diabetic patients, growing prevalence of skin diseases, on-going advancements in transdermal drug delivery systems, and high Incidence of burn injuries.



In this market, semi-solid formulations, liquid formulations, solid formulations, and transdermal products are the major product segments. Lucintel forecasts that semi-solid formulations will remain the largest product segment over the forecast period due to its ability to penetrate the skin more effectively. Also, it can be easily applied as compared to the other forms of topical medication present in the market.



Within this market, home care setting is expected to witness the highest growth over the forecast period due to rising geriatric population and increasing requirement for self-administration of drugs.



North America will remain the largest region over the forecast period due to increasing inclination towards pain-free drug delivery solutions, the growing prevalence of skin diseases, and rising spending on topical dermatological products in the region.

Glenmark Pharmaceuticals, Galderma, Cipla, GlaxoSmithKline, Bausch Health Johnson & Johnson, Hisamitsu Pharmaceuticals, Bayer AG, Viatris, and 3M are the major suppliers in the global topical drug delivery market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global topical drug delivery market by product, route of administration, facility of use, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Topical Drug Delivery Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global topical drug delivery market by product, route of administration, facility of use, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the topical drug delivery market by product (semi-solid formulations (creams, ointments, lotions, gel, and pastes), liquid formulations (suspensions and solutions), solid formulations (powders and suppositories), transdermal product (transdermal patches and transdermal semi-solids)), route of administration (dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, and nasal drug delivery), facility of use (home care settings, hospitals & clinics, burn centers, and other facilities), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or type substitution?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?