DUBLIN–(BUSINESS WIRE)–The “Global Topical Drugs Market Size, Share & Trends Analysis Report by Type (Semi-solid, Liquid), by Route Of Administration (Dermal, Ophthalmic), by End-use (Burn Centers, Hospitals & Clinics), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global topical drugs market size is expected to reach USD 217.79 billion by 2030. The industry is expected to grow at a CAGR of 10.1% from 2022 to 2030.
Companies Mentioned
- Bayer AG
- Cipla, Inc.
- GSK Group of Companies
- Johnson & Johnson Private Limited
- Novartis AG
- Bausch Health Companies Inc.
- Hisamitsu Pharmaceuticals Co. Inc.
- Merck & Co. Inc.
- Glenmark Pharmaceuticals Ltd.
- MedPharm Ltd.
The key factors contributing to the industry growth include the increased prevalence of skin disorders coupled with strategic collaborations between key players.
The increasing prevalence of skin infections, such as psoriasis, atopic dermatitis, and eczema, coupled with the rising demand for eye and ear therapies is expected to drive the demand for transdermal or dermal medicines during the forecast period. For instance, in October 2021, AbbVie Inc. received FDA approval for Vuity, a pilocarpine HCl ophthalmic solution for treating presbyopia.
In addition, according to the NCBI, the prevalence of psoriasis is nearly 1.92% and 1.5% among European and North American populations. The launch of topical medicines to treat skin diseases is also anticipated to propel the demand for dermal drugs. For instance, in September 2020, Bausch Health, Canada launched a novel antipsoriatic agent, Duobrii lotion for psoriasis patients.
Advancements in technology and increased acquisitions and mergers activities among key players, such as Alcon, Inc. and Novartis AG, are anticipated to boost the industry’s growth. For instance, in June 2022, Novartis AG acquired Kedalion Therapeutics, thereby acquiring AcuStream technology to facilitate accurate dermal delivery of ophthalmic medicines.
Moreover, in May 2022, Alcon Inc. acquired Eysuvis (loteprednol etabonate suspension) for topical ophthalmic use from Kala Pharmaceuticals, Inc., thereby adding to its existing portfolio of dry eye drugs. A high incidence of burn injuries is expected to render high utilization of topical medicines in treating burn injuries.
For instance, according to the WHO, an estimated 11 million burn injuries occur annually worldwide, out of which about 180,000 cases are fatal. Various topical agents are used in treating burn injuries including silver sulfadiazine cream, bismuth-impregnated petroleum gauze, cerium nitrate, mafenide acetate, and nanocrystalline silver among others.
Topical Drugs Market Report Highlights
- The semi-solid formulations segment dominated the market in 2021 owing to their high stability in atmospheric conditions and increased use of personalized drugs
- The dermal segment dominated the industry in 2021 due to the increased utilization of transdermal patches to reduce tobacco consumption
- The home care settings segment dominated the industry in 2021 due to the ease of administration among the geriatric population
- North America was the largest regional market in 2021 due to strategic initiatives and collaborations among key players for the development & launch of dermal products
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Regulatory framework
3.3 Penetration and Growth Prospect Mapping
3.4 Pipeline Analysis
3.5 Market Dynamics
3.5.1 Market driver analysis
3.5.2 Market restraint analysis
3.6 PESTEL Analysis
Chapter 4 Global Topical Drugs Market – Segment Analysis, By Type, 2018-2030 (USD Million)
Chapter 5 Global Topical Drugs Market – Segment Analysis, by Route of Administration, 2018-2030 (USD Million)
Chapter 6 Global Topical Drugs Market – Segment Analysis, By End-use, 2018-2030 (USD Million)
Chapter 7 Topical Drugs Market: Segment Analysis, by Region, 2018-2030 (USD Million)
Chapter 8 Global Topical Drugs Market: Competitive Analysis
8.1 Recent Developments and Impact Analysis, by Key Market Participants
8.1.1 Major deals & strategic alliances analysis
8.1.1.1 New Product Launches
8.1.1.2 Mergers and Acquisitions
8.1.1.3 Partnerships & Agreements
8.2 Company Categorization
8.2.1 Innovators
8.2.2 Market Leaders
8.2.3 Emerging Players
8.2.4 Heat Map Analysis
8.3 Company Market Position Analysis
8.4 Vendor Landscape
8.4.1 List of Key Distributors and Channel Partners
8.4.2 List of Potential End Users
8.4.3 Key Company Market Share Analysis, 2021
8.5 Company Market Share, 2021
8.5.1 Competitive Dashboard Analysis
8.6 Private Companies
8.6.1 List of Key Emerging Companies
8.6.2 Regional Network Map
8.7 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/fp2xpe
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