Published Date : 07 Dec 2022
The global topical drug delivery market was exhibited at USD 102.42 billion in 2022 and is expected to attain around USD 172.54 billion by 2030, growing at a CAGR of 6.7% during the forecast period 2022 to 2030.
The prevalence of skin infections, like psoriasis, and eczema, and minor affections, like acne, are rising and having a big impact on the market, worldwide. According to the National, indigenous, and worldwide epidemiology of psoriasis a methodical analysis and modeling study, the prevalence of psoriasis in grown-ups was estimated to be around30.3 per 100,000 person-years in Taiwan and about321.0 per 100 000 person-years in Italy. Therefore, in various regions, with growth in population sizes, there's a substantial burden related to the skin, which is diagnosed at an initial stage, and in similar cases, the content of drug delivery becomes more important. Hence, these statistics show that skin complaint frequency is growing at a faster pace and is getting a global burden, which is likely to appreciatively propel the growth of the topical drug delivery market.
Report Highlights
Topical Drug Delivery Market Report Scope
| Report Coverage | Details |
| Market Size In 2022 | USD 102.42 Billion |
| Market Size By 2030 | USD 172.54 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 6.7% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | By Product, By Route of Administration, By Application, By End User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
Regional Insight
North America has accounted for the dominating share in the topical drug delivery market. Due to the COVID-19 outbreak, the market is awaiting to observe positive growth. This is substantially due to the new treatment being developed. For case, in August 2020, the United States Food and Drug Administration approved an untoward ointment,' T3X' developed by Advanced Penetration Technology. It has been approved against the SARS-CoV-2 contagion. Furthermore, the studies have also shown that T3X was suitable successfully in order to kill the contagion in 30 seconds, owing to factors, similar to the availability of a large number of pharmaceutical companies and drug delivery technology providers. As per the data handed by GLOBOCAN, 2020, new cases of melanoma skin cancer were reported in the North American region, which is anticipated to reach 142,000 by the time 2040. This growing burden of skin-related conditions is anticipated to accelerate market growth.
Likewise, growing product launches are also anticipated to boost the market growth in this region. For case, in August 2020, the United States Food and Drug Administration (US FDA) approved Winlevi (clascoterone cream 1) developed by CassiopeaSpA for the treatment of acne. Therefore, the factors mentioned over are anticipated to thrive the market growth in this region during the cast period.
Market Dynamics
Driver: High prevalence of skin diseases
According to the Project of Global Burden of Disease, skin diseases similar as eczema, psoriasis, skin cancer, and vitiligo continue to be among the leading nonfatal disease burden cause around the world and affect a huge proportion of the global population. Likewise, the frequency of psoriasis worldwide ranges between 0.09% and 11.4%, making it a serious global problem with at least 100 million individuals affected worldwide. As topical drug delivery is the first line of treatment for the maturity of skin conditions, the demand for advanced topical products is anticipated to increase in the coming times.
Restraint: Preference for alternative modes of drug delivery
Several alternative drug delivery modes are available for end users and patients. In addition, the alternatives over topical drug delivery benefits form a major restraint for the market growth. Of these, the oral route is the most preferred as it's easy to use, accessible, cost-effective, safe, and respectable. Likewise, orally administered drugs can be accessibly stored and are provident, movable, noninvasive, and safe. No special training is needed for the administration of these drugs as compared to topical phrasings. Injectables also witnessed widespread usage for illustration, insulin injections for diabetics to tone-administer.
Opportunity: Delivery of biologics through the transdermal route
The delivery of biologics through the transdermal route is one of the arising trends in the topical drug delivery market. The transdermal delivery of large motes as a volition to subcutaneous, intramuscular, or intravenous routes of administration is anticipated to give significant patient benefits, similar as cost-effective treatment and painless drug delivery.
Challenge: Technical barriers related to skin irritation and permeability
The potential for local adverse responses and skin irritation is a substantial challenge for topical drug delivery transdermal and formulation systems. Still, the advent of new skin permeation methods and the development of methods in order to reduce irritation on the skin would help broaden the topical drug delivery formulation and transdermal systems market or macromolecules, hydrophilic composites, and conventional drugs for new therapeutic indications.
Key Players in the Report:
Market Segmentation
By Product
By Route of Administration
By Application
By End User
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