Topical Drugs Market
Report ID: SQMIG35I2309
Topical Drugs Market Size, Share, Growth Analysis, By Type(Semi-solid, Liquid), By Route of administration(Dermal, Ophthalmic), By End-user(Burn Centers, Hospitals & Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2309 |
Region:
Global |
Published Date: February, 2024
Pages:
219
|Tables:
87
|Figures:
76
Topical Drugs Market Insights
Topical Drug Delivery Market size was valued at USD 204.6 billion in 2022 and is poised to grow from USD 222.2 billion in 2023 to USD 429.9 billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031).
The marketplace for topical drugs has witnessed tremendous boom in recent years, driven by growing consciousness about skin care, dermatological situations, and the want for localized remedies. Consumers are more and more looking for topical solutions for diverse pores and skin problems, which includes zits, eczema, psoriasis, and growing old-related worries.
Moreover, the demand for ache comfort lotions and transdermal patches is also at the rise due to their comfort and centered healing advantages. As innovation in drug formulations and transport methods maintains, pharmaceutical companies are actively growing new topical products to cope with a wide range of scientific and cosmetic desires.
Additionally, the continuing fashion of natural and organic substances in skincare products has prompted the topical drug marketplace, with a growing emphasis on protection and efficacy. Overall, the global topical pills marketplace is poised for further expansion as studies and development efforts yield new remedies and customers an increasing number of prioritize pores and skin fitness and wellness
To get more reports on the above market click here to Buy The Report
Topical Drugs Market Segmental Analysis
The global topical drugs market is segmented on the basis of type, route of administration, end-user, and region. Based on type the market is segmented as Semi-solid, Liquid. On the basis of route of administration the market is segmented as Dermal, Ophthalmic. Based on end-users, it is segregated into Burn Centers, Hospitals & Clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Semi-solid topical drugs currently dominate the marketplace. These formulations, such as lotions, ointments, and gels, are favored for their ease of application, versatility, and ability to offer managed launch of active components. They cater to a wide range of skincare and dermatological needs, making them the preferred choice for both customers and healthcare vendors.
However, Liquid topical tablets are rising as the fastest-developing section inside the market. This growth may be attributed to their short absorption and effectiveness, specially in instances where fast comfort or focused remedy is needed. Liquid topicals, along with sprays and answers, offer blessings in terms of convenience and precision application, driving their increasing reputation amongst purchasers in search of faster effects and greater efficient drug delivery.
Analysis by means of End-user
Hospitals and clinics are the dominating give up users inside the topical drugs marketplace. They function as primary healthcare centers wherein sufferers get hold of a wide variety of clinical remedies, consisting of those who require topical medications. Hospitals, particularly, deal with extreme burns and complicated clinical instances, making them the primary destination for topical drug utilization.
Moreover, burn facilities are the quickest-growing give up users within the topical tablets marketplace. This growth is attributed to the specialized care they provide for burn patients. As burn care becomes extra specialized and advanced, burn centers an increasing number of rely upon a big range of topical tablets for wound control and scar remedy. The demand for these capsules in burn facilities is rising due to the need for tremendously tailored remedies and progressed affected person results.
To get detailed analysis on other segments, Request For Free Sample Report
Topical Drugs Market Regional Insights
North America presently dominates the global topical drugs marketplace. This dominance may be attributed to several elements, including a well-mounted healthcare infrastructure, high consumer awareness about skincare, and a strong pharmaceutical enterprise. Additionally, a sturdy emphasis on research and development, together with the presence of main pharmaceutical businesses inside the region, contributes to North America's management in this marketplace.
However, the Asia Pacific area is experiencing the quickest growth inside the international topical tablets market. This boom is broadly speaking pushed via a growing populace, increasing disposable income, and expanding right of entry to healthcare offerings in countries like China and India. Moreover, the developing occurrence of dermatological situations and the increasing adoption of Western skincare practices are fueling the call for topical pills inside the Asia Pacific region. Additionally, a surge in pharmaceutical production and partnerships with global pharmaceutical groups are further propelling an increase in this region.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Topical Drugs Market Dynamics
Drivers
Aging Population and Skin Health Awareness
One predominant key driving force of the topical tablets marketplace is the getting older populace. As the worldwide population keeps aging, there's a growing demand for skin care and dermatological treatments to cope with age-associated skin issues. Additionally, expanded focus approximately on pores and skin health and the preference for youthful appearances are motivating purchasers to try to find topical answers, using market increase.
Restraints
Stringent Regulatory Requirements
The approval system for topical medications can be prolonged and highly-priced, requiring good sized clinical trials and safety tests. These rules can gradually down product development and market access, posing a undertaking for pharmaceutical groups aiming to bring new topical capsules to the marketplace.
Request Free Customization of this report to help us to meet your business objectives.
Topical Drugs Market Competitive Landscape
The aggressive landscape in the international topical tablets marketplace is marked by means of a diverse array of pharmaceutical organizations and producers striving to fulfill the developing demand for skin care and dermatological answers. These enterprise players have interaction in widespread studies and development efforts to formulate progressive topical treatments.
Additionally, partnerships and collaborations with dermatologists, healthcare carriers, and beauty professionals play a pivotal role in increasing market attain and product offerings. Furthermore, the emphasis on first-rate guarantee, adherence to stringent regulatory standards, and sustainability initiatives are shaping the competitive strategies of businesses inside the topical drugs market.
This landscape is dynamic, with non-stop efforts to introduce new formulations and delivery techniques that cater to the evolving desires and alternatives of consumers.
Top Player’s Company Profiles
- Bayer AG (Germany)
- Cipla Inc. (India)
- Galderma S.A. (Switzerland)
- GSK Group of Companies (UK)
- Johnson & Johnson Private Ltd. (US)
- Novartis AG (Switzerland)
- Amgen Inc. (US)
- Bausch Health Companies Inc. (Canada)
- Astellas Pharma Inc. (Japan)
- Hisamitsu Pharmaceuticals Co. Inc. (Japan)
- Merck & Co., Inc. (US)
- LEO Pharma A/S (Denmark)
- Takeda Pharmaceutical Company Limited (Japan)
- Glenmark Pharmaceuticals Ltd. (India)
- Eli Lilly and Company (US)
- MedPharm Ltd. (UK)
- AbbVie Inc. (US)
- Sun Pharmaceutical Industries Ltd. (India)
- Pfizer Inc. (US)
- Fresenius SE & Co. KGaA (Germany)
Recent Developments
- In May 2023, Pfizer, a renowned pharmaceutical company, released a new transdermal patch for the treatment of step-forward aches in adults with cancer. Through Abstral Transdermal Patch, the pain-relieving fentanyl is provided without delay from pores and skin.
- In April 2023, Astellas Pharma, a Japanese pharmaceutical company, launched a new prescription topical foam for the treatment of plaque psoriasis in adults. Skyrizi Foam works by blocking the interest of a protein known as IL-23.
- In March 2023, Novartis, an innovative pharmaceutical provider, announced the launch of a new prescription topical cream. Xeljanz Cream was made available for the treatment of plaque psoriasis in adults and it works by blocking the interest of a JAK1 protein.
- A new prescription topical gel for the treatment of acne vulgaris was launched by Johnson & Johnson in February 2023. EpiDuo Forte is the first and only topical drug approved for the treatment of acne vulgaris in sufferers aged 12 years and older.
- In February 2022, Taro Pharmaceutical Industries Ltd. and Galderma announced that they had signed a definitive agreement for Taro to acquire Alchemee from Galderma. Through this acquisition, Taro intended to expand its over-the-counter product portfolio.
- Aleor Dermaceuticals received the final approval for -its Abbreviated New Drug Application (ANDA) for Diclofenac Sodium Topical Gel, 3% from the United States Food and Drug Administration in in July 2022.
- The application for a New Drug Application (NDA) for ZORYVE (roflumilast) cream 0.3% from Arcutis Biotherapeutics was accepted by the United States Food and Drug Administration in July 2022. The new topical cream was intended to be used as a remedy for plaque psoriasis in affected people of ages 12 or older.
Topical Drugs Key Market Trends
- Rise of Telemedicine and E-Pharmacies: Telemedicine platforms have been gaining traction all over the world owing to their convenience and effectiveness, especially in the field of dermatology. The growing need for contactless healthcare, improved access to healthcare, and rising preference for online purchase of medications are factors that are driving the demand for topical drugs through e-pharmacies and telemedicine platforms over the coming years.
Topical Drugs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global topical drugs market analysis, the market has experienced steady growth in recent years, driven by a combination of factors such as the increasing prevalence of dermatological conditions, the aging population, and rising consumer awareness about skin health. The market has seen notable innovations in formulations and delivery methods, with a focus on improving efficacy and patient compliance.
Looking in advance, the marketplace is poised for continued enlargement. Future insights suggest a developing call for personalised skincare solutions, pushed by way of advancements in genetic and pores and skin microbiome research.
Additionally, the mixing of synthetic intelligence and gadget-gaining knowledge in dermatology is predicted to decorate diagnostic accuracy and remedy tips. Sustainability and eco-friendly packaging are also expected to end up as key considerations for customers and producers. The presence of a well-developed healthcare infrastructure and high healthcare spending allow North America to account for the largest global topical drugs market share.
However, demanding situations consisting of stringent regulatory hurdles and the need for widespread investments in studies and improvement will persist. Market players that can adapt to evolving client alternatives, harness digital technology, and navigate regulatory complexities are likely to thrive in this dynamic landscape.
As healthcare systems evolve and consumers prioritize skin health, the topical drugs market presents opportunities for both established and emerging companies to shape the future of skincare and dermatological treatments.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 204.6 billion |
| Market size value in 2031 | USD 429.9 billion |
| Growth Rate | 8.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Topical Drugs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Topical Drugs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Topical Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Topical Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Topical Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Topical Drugs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
