Vancouver, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) — The global Topical Drug Delivery market is estimated to reach value of USD 145.68 Billion by 2027, according to a current analysis by Emergen Research. The ability to bypass the first-pass metabolism of Topical Drug Delivery delivery process is increasing its popularity of Topical Drug Delivery in the medical sector. The risk and inconveniences associated with intravenous therapy can be ignored through Topical Drug Delivery therapy. Many patients face some difficulties during the process of oral administration. Some patients especially kids do not prefer capsules, liquids, tablets, or chewable tablets because of its smell and aftertaste which may cause vomiting sensation. The availability of Topical Drug Delivery has reduced these difficulties for some patients due to which the demand for Topical Drug Delivery has increased in global market.
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Considerable surge in the overall number of burn injuries, skin and eye disorders along with application of Topical Drug Deliverys in treating such burns and eye disorders, and major increase in prevalence of diabetes will enhance the market growth throughout the forecast period. Moreover, Topical Drug Delivery delivery through the skin offers various benefits such as sustained medicine release, less fluctuation in the proportion of plasma and medicine, and bypassing the first-pass metabolism with increasing patient compliance.
Further Key Findings from the Report Suggest:
- In January 2019, Nestlé Skin Health opened a new office in Malaysia, The company has accelerated its business growth through its presence in Kuala Lumpur.
- In April 2019, Crescita Therapeutics Inc. signed a commercialization license agreement of USD 3.7 Million, with Cantabria Labs, granting Cantabria the exclusive rights to sell and distribute Pliaglis in Italy, Portugal, France, and Spain. Pliaglis is a combination medicine used to numb a small area of skin.
- In November 2018, Bausch Health Companies Inc. invested in expansion of its contact lens manufacturing capacity at Bausch + Lomb sites in Rochester, N.Y., and Waterford, Ireland.
- Asia Pacific is estimated to witness a CAGR of 7.8% in the global market, during the forecast period, due to rapid geriatric population, huge healthcare expenditure, and rising disposable income in the region.
- Key players operating in the topical drug delivery market are Johnson & Johnson, Nestlé SA, GlaxoSmithKline, Novartis AG, Merck & Co, Bausch Health Companies, Glenmark Pharmaceuticals, Bayer AG, Hisamitsu Pharmaceuticals, and Encore Dermatology, Inc.
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For the purpose of this report, Emergen Research has segmented the global Topical Drug Delivery market based on product form, route, end-use, and regions as follows:
- Product Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017–2027)
- Semi-Solid
- Solid Formulations
- Transdermal Products
- Liquid Formulations
- Route Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017–2027)
- Dermal
- Ophthalmic
- Nasal
- Others
- End-Use Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017–2027)
- Hospitals
- Home Healthcare
- Clinics
- Diagnostic Centers
- Burn Center
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- Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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