Topical Drug Delivery Market - Emerging Tech Innovations

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the topical drug delivery market.

Secondary Research:

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the topical drug delivery market.

This market  is projected to grow at a CAGR of 5.7% during the forecast period to reach USD 123.2 billion by 2024 from USD 93.2 billion in 2019.

Download PDF Brochure@ 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=124871717

Critical questions answered in the report:

# How will the current technological trends affect the market in the long term?
# What are the reasons contributing to the growth of the semi-solid market?
# Which regions are likely to grow at the highest CAGR?
# What are the challenges hindering the adoption of topical drug delivery devices?
# What are the growth strategies being implemented by major market players?

The growth of the topical drug delivery market is driven mainly by the high prevalence of skin diseases such as skin cancer; rising incidence of ophthalmic disorder such as myopia, glaucoma, diabetic retinopathy; and growing prevalence of diabetes. Emerging markets such as China and India are expected to offer potential growth opportunities to market players in the coming years. 

Johnson & Johnson (US), Nestle SA (Switzerland), and Novartis AG (Switzerland) are the key players operating in this market. Other prominent players in the market include GlaxoSmithKline (UK), Bausch Health Companies (Canada), Hisamitsu Pharmaceutical (Japan), Merck & Co (US), Mylan (US) Bayer AG (Germany), Glenmark Pharmaceuticals (India), Cipla Ltd (India), and Crescita Therapeutics Inc. (Canada). 

Recent Developments:

# In April 2019, Crescita Therapeutics signed an out-licensing agreement with Cantabria labs for the sales and distribution of its topical Pliaglis formulation in Italy, Portugal, France, and Spain.

# In November 2018, Bausch Healthcare expanded its manufacturing facility in Rochester (Ireland) to support and fulfill the demand of its topical eye health products.

Request Sample Pages@ 
https://www.marketsandmarkets.com/requestsampleNew.asp?id=124871717

North America to dominate the Topical Drug Delivery market during the forecast period

In 2018, North America dominated the Topical Drug Delivery market, followed by Europe. The growing prevalence of skin diseases coupled with the development of the technologically advanced topical and transdermal products in the region are the factors propelling the growth of the market in the region. 

For instance, in February 2018, Scilex Pharmaceuticals (US), launched ZTlido (Lidocaine Topical System) 1.8% patches for the management of pain in the US. Similarly, in December 2017, Aclaris Therapeutics Inc. (US), launched ESKATA (Hydrogen Peroxide) Topical Solution, 40% (w/w) for the treatment of raised seborrheic keratosis in the US market.