The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Topical Drug Delivery Global Market Report 2023, the topical drug delivery market is expected to show significant growth in the forecast period.

Key insights from the topical drug delivery market forecast include:

1. Market Size

The global topical drug delivery market is expected to grow from $137.93 billion in 2022 to $150.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The topical drug delivery market size is expected to grow to $210.39 billion in 2027 at a CAGR of 8.7%.

2. Major Driver

The rising prevalence of diabetes is likely to drive future growth in the topical medication delivery market. According to the International Diabetes Federation, a Belgium-based, non-profit diabetes group 2021, 537 million individuals (20-79 years) were diagnosed with diabetes in December 2021, and 6.7 million people died from diabetes in 2021. However, by 2030, it is expected that 643 million people globally would have diabetes. As a result, the rising prevalence of diabetes is propelling the topical medication delivery market forward.

View More On The Topical Drug Delivery Market Report 2023 – https://www.thebusinessresearchcompany.com/report/topical-drug-delivery-global-market-report

3. Key Trend

Technological improvement is a major trend that is gaining traction in the topical medication delivery market. To strengthen their position in the topical medication delivery industry, major firms in the market are introducing unique products with superior technology. For example, in April 2022, Sol-Gel Technologies Ltd., an Israeli dermatology company, and Galderma S.A., a Swiss pharmaceutical company specialising in dermatological treatments and skin care products, introduced Epsolay (benzoyl peroxide, cream, 5%), which uses Sol-Gel’s microencapsulation technology and is patent protected until 2040. Sol-gel microencapsulation has the benefit of entrapping molecules by generating inclusion complexes in porous silica between essential oils (Eos) as guest molecules and beta-cyclodextrin as host, making it more stable and resistant to environmental degradation.

4. Largest Region

North America was the largest region in the topical drug delivery market in 2022.

5. Major Players

Major players in the food diagnostics market are Glenmark Pharmaceuticals Ltd., Galderma SA, Johnson & Johnson Private Limited, GlaxoSmithKline PLC., Bausch Health Companies Inc., Cipla Ltd., Bayer AG, 3M, Merck & Co., Inc., Crescita Therpeutics 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.

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Key Topical Drug Delivery Market Segments
The global topical drug delivery market is segmented –
1) By Product Type: Semi-Solid Formulations, Liquid Formulations, Solid Formulations, Transdermal Products
2) By Route Of Administration: Dermal Drug Delivery, Ophthalmic Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, Nasal Drug Delivery
3) By End User: Hospitals, Clinics, Home Healthcare, Diagnostic Centers, Other End Users

The Topical Drug Delivery Global Market Report 2023  provides an in-depth analysis on the topical drug delivery market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the topical drug delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Drug Delivery Devices Global Market Report 2023
Drug Screening Global Market Report 2023
Drug Device Combination Global Market Report 202

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