DUBLIN--(BUSINESS WIRE)--The "Topical Drug Delivery Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The prevalence of skin infections, like eczema, psoriasis, etc. and minor ailments, like acne are increasing and having a big impact on the market globally.
Psoriasis affect is observed in people of all ages, and in all countries. The reported global prevalence of psoriasis ranges between 0.09% and 11.4%, making psoriasis a serious global problem, indicated by the report of the World Health Organization in 2016.
Around 7.5 million US people are getting affected according to the American Academy of Dermatology (AAD). Hence, these statistics show that skin diseases prevalence is increasing at a faster pace and is becoming a global burden, which is likely to positively impact the growth of the topical drug delivery market.
The other factor that drives the market includes the ease of drug delivery, approval of new drugs and technological advances and innovations.
Scope of the Report
As per the scope of the report, topical drug delivery is a medication that is applied to a particular place on, or in the body, topically. Common skin diseases that are treated preferably by topical drug delivery system include bacterial and fungal infections, inflammations, acne, psoriasis, hair and skin problems.
Key Market Trends
Dermal segment holds the major share in the Topical Drug Delivery Market
The topical drug delivery market is segmented based on the route of administration, product, and region. Based on the product, it is bifurcated into formulation and device. The formulation is sub-segmented into a solid, liquid, and semi-solid. Devices are further classified into inhaler and patch. Based on the route of administration, it is classified into dermal, ophthalmic, nasal, oral-topical, vaginal, and others.
There have been significant advantages in the topical and transdermal drug delivery systems, to target a particular site in the body. The administration of drugs through the skin is also performed to achieve controlled or prolonged drug delivery and this route can be explored as an alternative to the oral route. The ease of use may reduce overall healthcare treatment costs. The dermal segment of the market studied is expected to have a positive contribution to market growth, as it is widely used and has certain benefits.
North America is expected to dominate the Market
Based on the geographic region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America has been accounted for the highest share in the market due to the presence of a large number of pharmaceutical companies and drug delivery technology providers. On the other hand, Asia Pacific is also likely to register a healthy growth rate in the forecast years. The increasing geriatric population and the rising disposable income are few of the factors, which are expected to accelerate the growth of the Asia Pacific market in the coming years.
- Ease of Drug Delivery
- Approval of New Drugs
- High Prevalence of Skin Diseases
- Technological Advances and Innovations
- Regulatory Scenario and Pricing Pressure
- High Frequency of Product Recalls
Porter's Five Force Analysis
- Bayer AG
- Crescita Therapeutics Inc.
- Hisamitsu Pharmaceuticals
- Johnson & Johnson (Janssen Global Services, LLC)
- Nestle (Galderma)
- Novartis AG
- Valeant Pharmaceuticals
For more information about this report visit https://www.researchandmarkets.com/r/14fxui