Market Highlights

The global topical drug delivery market was valued at USD 208.3 billion in 2023 and expected to reach USD 498.62 billion by 2033 at a CAGR of 9.12%.

Topical Drug Delivery Market CAGR

2023-2033

CAGR OF

9.12%

Topical Drug Delivery Market

The global topical drug delivery market has experienced steady growth from the past few years and anticipated to witness impressive opportunities in the coming years as well. This is owing to the growing research and development in topical drug delivery and use of topical drugs coupled with nanotechnology to enhance skin absorption. A topical drug is a drug that is applied to a specific place on or in the body. Generally topical administration of drugs refers to the application of the drug to body surfaces such as mucous membrane or skin to treat diseases. The drugs administered through skin or mucous membrane get in to the skin more deeply and better retained, allowing more effective results. The other benefits of Topical drugs include sustained release, and lessening of in oscillations in plasma medicine proportion. Topical drugs are available in a wide range of classes including creams, foams, lotions, gels, and ointments. Topical drugs are applicable in skin infections, burns. They are used as sunscreen lotions, and for treatment of corn, warts, and skin irritations. Topical drugs can also be inhalational for e.g. inhalational drugs used to treat asthma patients. Topical drugs also include eye drops or ear drops for e.g. eye drops used to treat conjunctivitis or ear drop used to treat ear infection.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global topical drug delivery. The historic years considered for the study are 2018-2021, the base year is 2022, the estimated year is 2023, and forecast period is 2023-2033.

Topical Drug Delivery Market: Market Dynamics

The global topical drug delivery market is expected to witness sustainable growth rate during the forecast period. Rising skin ailments, increasing cases of burn injuries, and rising frequency of eye or ear infections are the major factors for the market growth.
Also, growing number of asthma patients and increasing prevalence of diabetes mostly amongst the geriatric population has further enhanced the growth of the overall market across the globe. 
However, increase in side effects of medicines like irritations coupled with the product recalls acts as a restraint to the market growth.

Topical Drug Delivery Market: Segmental analysis

Topical Drug Delivery Market

By Product

Solid formulations

Liquid Formulations

Semi-solid Formulation

Transdermal Products

The Market will Grow

At the CAGR of:

9.12%

The Forecast Market

Size for 2033 in USD:

$498.62B

The topical drug delivery market is classified into product, route of administration, facility of use, and region.
Based on product, the market is segmented into solid formulations, liquid formulations, semi-solid formulation and transdermal products. The semi-solid formulation segment accounted for the largest market share in 2023. This is attributed to its features such as broad applications of topical pastes and higher accessibility of topical gels, worldwide.

Topical Drug Delivery Market

By Route of Administration

XX%

Dermal Drug Delivery

Ophthalmic Drug Delivery

Rectal Drug Delivery

Vaginal Drug Delivery

208.3

Total Market Size

USD (Billion), 2023

9.12%

CAGR

2023 - 2033

Based on route of administration the market is segmented into dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, and nasal drug delivery. Based on facility of use, the market is segmented into hospitals & clinics, burn centres, homecare settings, other facilities such as academic & research institutes and diagnostic centres.

Topical Drug Delivery Market: Regional analysis

Topical Drug Delivery Market

By Region

The Market will Grow

At the CAGR of:

9.12%

The Forecast Market

Size for 2033 in USD:

$498.62B

Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
The North America region contributed to major market share in the market and expected to continue the dominance during the forecast period. the growth in the region owes to the growing prevalence of skin diseases, increasing funding in research and development, increasing government aids, introduction and approval to new innovative formulations in drug delivery.

Topical Drug Delivery Market: Key Players

The key manufacturers involved in the global topical drug delivery market include Bayer AG (Germany), Cipla Ltd (India), GlaxoSmithKline (UK), Glenmark Pharmaceuticals (India), Johnson & Johnson (US), Novartis AG (Switzerland), Nestle SA (Switzerland), Crescita Therapeutics Inc. (Canada) Bausch Health Companies (Canada), Hisamitsu Pharmaceutical (Japan), Mylan (US), and Crescita Therapeutics Inc. (Canada).

Critical Questions Answered in the report

•    What are the key trends in the market?
•    How the market (and its various sub segments) has grown in last four years and what would be the growth rate in next five years?
•    What are the key strategies adopted by the major vendors to lead in the market?
•    What is the market share of the top players?

Research Methodology

The research study extensively uses both secondary and primary research methodologies. More than 200 industry leaders from various phases of the value chain (demand side, supply side, resellers/distributors, and other independent consultants) were interviewed to gain crucial insights about this market and validate the research findings. Secondary sources referred for the research study include company websites, annual reports, paid database tools, investor presentations, webinars, blogs, news/journals, whitepapers, survey papers, associations, and government websites. All the collected data and insights were then processed using our proprietary data mining software that executes various algorithms to make projections for the forecast period.

Topical Drug Delivery Market Scope: