PUNE, India, March 27, 2017 /PRNewswire/ --
According to a new market research report "Topical Drug
Delivery Market by Product Type (Formulation (Solid, Cream, Lotion,
Paste, Liquid), Transdermal (Patch, Gel)), Route of Administration
(Skin, Ophthalmic, Rectal, Vaginal, Nasal), & Facility of Use
(Hospital, Clinic, Home care, Research) - Global Forecast to
2021" published by MarketsandMarkets, the market is expected to
reach USD 125.88 Billion by 2021 from
USD 92.40 Billion in 2016 at a CAGR
of 6.4% during the forecast period.
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Browse 87 market data Tables and 41 Figures spread
through 144 Pages and in-depth TOC on "Topical
Drug Delivery Market"
http://www.marketsandmarkets.com/Market-Reports/topical-drug-delivery-market-124871717.html
Early buyers will receive 10% customization on this report.
The report analyzes and studies the major market drivers,
restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Major factors driving the growth of this market are the high
incidence of burn injuries, rising geriatric population, and
increasing incidence of diabetes. However, the negative impact of
product recalls may restrain the growth of this market in the
coming years.
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The topical drug delivery market is segmented based on product
type, route of administration, facility of use, and regions. On the
basis of product type, the market is segmented into formulations
and devices (transdermal drug delivery). Transdermal drug delivery
is expected to offer lucrative growth opportunities and represents
a new revenue pocket for market players. This is because
transdermal drug delivery offers enhanced therapeutic efficiency
and helps maintain a steady plasma level of the drug.
On the basis of route of administration, the market is segmented
into skin, ophthalmic, rectal, vaginal, and nasal routes.
Considering the high incidence of skin diseases, high demand for
self-administration, and the increasing number of product approvals
for skin-related drug delivery systems, the market for topical
drugs administered through the skin is expected to register the
highest CAGR during the forecast period.
Based on facility of use, the topical drug delivery market is
categorized into hospitals and private clinics, health care
settings, and other facilities of use such as research institutes
and diagnostic centers. The hospitals and private clinics segment
is expected to be the major end-user in the topical drug delivery
market. This large share of this segment can is mainly attributed
to the increasing incidence of skin diseases, the subsequent
increase in the demand for topical products for the treatment of
these diseases, increase in funding, and infrastructural
development in hospitals.
Based on region, North America
dominates the topical drug delivery market, followed by
Europe. However, the market in the
Asia-Pacific is expected to
witness the highest growth during the forecast period. The high
growth in the Asia-Pacific market
can be attributed to the rising geriatric population, increasing
healthcare expenditure, rising disposable income, and growing focus
of global pharmaceutical companies on the markets in emerging APAC
countries.
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Key players operating in the global Topical Drug Delivery
Market are Galderma S.A. (Switzerland), GlaxoSmithKline plc. (U.K.),
Valeant Pharmaceuticals International, Inc. (Canada), Crescita Therapeutics Inc.
(Canada), Medpharm (U.K.), 3M
(U.S.), Bayer AG (Germany),
Novartis AG (Switzerland), Janssen
Global Services, LLC (U.S.), and Cipla (India).
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