Topical Drug Delivery Market by Product (Liquid Formulations, Semi-Solid Formulations, Solid Formulations, and Transdermal Products); Route of Administration (Nasal Drug Delivery, Ophthalmic Drug Delivery, Dermal Drug Delivery, Rectal Drug Delivery, Vaginal Drug Delivery, and Pulmonary Drug Delivery); End User (Burn Centers, Hospitals and Clinics, Home Care Settings, and Other End Users), and Geography: Global Market Size Estimates and Forecast (2022–2030)

The market crossed the US$ 205.0 billion mark in 2022 and is expected to hit US$ 325.0 billion by 2030, recording a CAGR of 8.0% during the forecast period.

The topical drug delivery market is growing at high rates, mainly due to the increasing incidence of skin infections such as psoriasis, eczema, acne, and others. Moreover, the increasing incidences of burn injuries, the prevalence of diabetes and eye disease, and the extensive use of drugs to treat diabetic neuropathic pain and foot ulcers are also expected to accelerate the market's overall growth. The semi-solid formulations segment accounted for the majority of revenue share in the global market in 2021. Factors boosting the growth of this segment include the growing demand for semi-solid topical drug formulations such as ointments, creams, gels, and lotions, due to their advantages such as easy application, more effective delivery of drug molecules, and non-invasive nature.

Within the report, the market is segmented on the basis of product, route of administration, and end user. Based on product, the market is segmented as liquid formulations, semi-solid formulations, solid formulations and transdermal products. On the basis of route of administration, the market is segmented into nasal drug delivery, ophthalmic drug delivery, dermal drug delivery, rectal drug delivery,  vaginal drug delivery, and pulmonary drug delivery. On the basis of end-user, the market is segmented into burn centers, hospitals and clinics, home care settings, and other end users. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Topical drug delivery is the application of medication to the skin's surface or within the layers of skin or mucous membrane. These drugs are generally applied to a certain part of the body; usually, the skin, to treat different ailments. After the application on the skin, the drug primarily enters through the stratum corneum and passes via the deeper epidermis and dermis with no drug accumulation in the dermal layer. 

Furthermore, burn injuries are one of the most devastating of all injuries, accounting for the fourth most common kind of trauma worldwide. For instance, as per the Lancet Public Health, one of the leading journals in global health, burns and wound were one of the main reasons for disability, with over 8 million disability-adjusted life-years (DALYs). The burn wounds are mainly treated with the help of topical agents and wound dressings according to their extent and stage.  Therefore, the rising occurrence of burn injuries creates demand for topical drug delivery.

Rising demand for self-administration and home care will boost the market's growth

The significant rise in the geriatric population and the closing of regular OPDs during the global pandemic has surged the demand for self-administration drugs within home care settings. The elderly population forms a large consumer base for topical drugs in-home care. This factor also increases the demand for inhalation, topical, and transdermal drug products designed to cater to the needs of caregivers and patients.  

Recent strategic developments in the topical drug delivery market

The topical drug delivery market has undergone several significant developments, and a few of these have been mentioned below:

• In July 2022, Acrutis Biotherapeutics announced the US Food and Drug Administration had approved the New Drug Application for ZORYVE (roflumilast) cream 0.3% for treating plaque psoriasis, including intertriginous areas, in patients 12 years of age or older. 
• In February 2022, Dyve Biosciences, Inc. announced a joint, two-year research collaboration with Moffitt Cancer Center. The collaboration will study Dyve’s systemic buffering agent, DYV800, utilizing its proprietary and broadly applicable transdermal delivery technology, in various cancer laboratory models

Several players drive the topical drug delivery market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnershipsSOLVAY S.A., Cipla Limited, GlaxoSmithKline PLC, Novartis International AG, Crescita Therapeutics Inc., Bayer AG, Galderma S.A., Janssen Global Services LLC (Johnson and Johnson), and Sienna Biopharmaceuticals is among the prominent players operating in the market.

Target audience for the report:

• Drug developing companies
• Contract development and manufacturing organization,
• Clinical diagnostics -related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policymakers
• Venture capitalists, private equity firms, and start-up companies
• Drug distributors and sales firms
• End users of drug discovery
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Product:
  • Lipid formulations
  • Semi-solid formulations
  • Solid formulations
  • Transdermal products
• Route of Administration:
  • Nasal drug delivery
  • Ophthalmic drug delivery
  • Rectal drug delivery
  • Vaginal drug delivery
  • Pulmonary drug delivery
• End-User:
  • Burn centers
  • Hospitals and clinics
  • Home care settings
  • Other end users
• Region:
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Cipla Inc.
  • Crescita Therapeutics Inc.
  • GlaxoSmithKline plc.
  • Hisamitsu Pharmaceutical Co.,Inc.
  • Skinvisible Pharmaceuticals, Inc.
  • Galderma Laboratories, L.P.
  • Janssen Global Services, LLC
  • Mylan N.V.
  • Skinvisible Pharmaceuticals, Inc.
  • Oxford Nanopore Technologies Plc.