Global Topical Drugs Market

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 News

  • 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.
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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 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. '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)'

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.

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.

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Global Topical Drugs Market

Report ID: SQMIG35I2309

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