The Topical Drug Delivery Market Is Expected To Grow At An 8% Rate, Driven By The Rise In Diabetes Cases As Per The Business Research Company’s Topical Drug Delivery Global Market Report 2022

LONDON, Dec. 14, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research on the topical drug delivery market, the growing prevalence of diabetes is expected to propel the growth of the topical drug delivery market going forward. Diabetes is a group of diseases that affect how the body uses blood sugar and results in high blood sugar levels. Topical drug delivery helps diabetes patients by administering medicines that can bypass hepatic first-pass metabolism.

For instance, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, diabetes was the ninth leading cause of death in 2019, with an estimated 1.5 million deaths directly caused by diabetes. Therefore, the growing prevalence of diabetes is driving the growth of the topical drug delivery market.

Request for a sample of the global topical drug delivery market report

The global topical drug delivery market size is expected to grow from $126.11 billion in 2021 to $137.15 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The topical drug delivery market share is expected to grow to $186.51 billion in 2026 at a compound annual growth rate (CAGR) of 8.0%.

Technological advancement is a key trend gaining popularity in the topical drug delivery market. Major companies operating in the topical drug delivery market are developing innovative products with advanced technologies to strengthen their position in the topical drug delivery market. For instance, in April 2022, Sol-Gel Technologies Ltd., an Israel-based dermatology company, and Galderma S.A., a Switzerland-based pharmaceutical company specializing in dermatological treatments and skin care products, introduced Epsolay (benzoyl peroxide, cream, 5%), utilizing Sol-Gel’s microencapsulation technology for the treatment of inflammatory lesions of rosacea, which is patent protected until 2040. Sol-gel microencapsulation provides the advantage of entrapping molecules by forming inclusion complexes between essential oils (Eos) as guest molecules and beta-cyclodextrin as host in porous silica, making it more stable and resistant to environmental conditions. Silica acts as a protector for EOs.

Major players in the topical drug delivery market are Glenmark Pharmaceuticals Ltd, Galderma SA, Johnson & Johnson Private Limited, GlaxoSmithKline Plc, Bausch Health Companies Inc, Cipla Ltd, Bayer AG, 3M, Merck & CoInc, Crescita Therpeautics Inc, Novartis International AG, Taro Pharmaceutical Industries Ltd, Valeant Pharmaceuticals International Inc, Encore Dermatology Inc, Medpharm Group Limited, SkinVisible Pharmaceuticals Inc, Hisamitsu Pharmaceutical Co Inc and Pfizer Inc.

The global topical drug delivery market segmentation is categorized by product type into semi-solid formulations, liquid formulations, solid formulations, transdermal products; by route of administration into dermal drug delivery, ophthalmic drug delivery, rectal drug delivery, vaginal drug delivery, nasal drug delivery; by end user into hospitals, clinics, home healthcare, diagnostic centers, other end users.

North America was the largest region in the topical drug delivery market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the topical drug delivery market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Topical Drug Delivery Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide topical drug delivery market forecast size and growth, topical drug delivery market segments, topical drug delivery market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.

The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Not the market you are looking for? Check out some similar market intelligence reports:

Diabetes Care Devices Market 2022 – By Type (Blood Glucose Test Strips, Lancing Devices, Continuous Glucose Monitoring Devices, Insulin Pens, Syringes, Pumps And Injectors), By Type Of Expenditure (Public, Private), By End Use (Hospitals And Clinics, Diagnostic Centers), By Product (Disposables, Instruments/Equipment), By Type Of Testing (Point Of Care Testing, Non-Point Of Care Testing), And By Region, Opportunities And Strategies – Global Forecast To 2030

Drug Delivery Devices Global Market Report 2022 – By Route Of Administration (Oral Drug Delivery, Injectable Drug Delivery, Topical Drug Delivery, Ocular Drug Delivery, Pulmonary Drug Delivery, Nasal Drug Delivery, Transmucosal Drug Delivery, Implantable Drug Delivery), By Patient Care Setting (Hospitals, Diagnostic Centers, Ambulatory Surgery Centers/Clinics, Home Care Settings, Other Patient Care Settings), By Application (Cancer, Infectious Diseases, Respiratory Diseases, Diabetes, Cardiovascular Diseases, Autoimmune Diseases, Central Nervous System Disorders, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026

Acne Drugs Global Market Report 2022 – By Type (Inflammatory Acne Drugs, Non-Inflammatory Acne Drugs), By End User (Hospitals & Clinics, Pharmacies & Drug Stores, Ambulatory Surgical Centres), By Therapeutic Class (Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.