Opportunity: Delivery of biologics through the transdermal route

The delivery of biologics through the transdermal route is one of the emerging trends in the topical drug delivery market. The transdermal delivery of large molecules as an alternative to intramuscular, subcutaneous, or intravenous routes of administration is expected to provide significant patient benefits, such as painless drug delivery and cost-effective treatment.

Challenge: Technical barriers related to skin irritation and permeability

The potential for local adverse reactions and skin irritation is a significant challenge for topical drug delivery formulation and transdermal systems. However, the emergence of novel techniques for skin permeation and the development of methods to reduce skin irritation would help widen the topical drug delivery formulations and transdermal systems market for hydrophilic compounds, macromolecules, and conventional drugs for new therapeutic indications.

Major Growth Influencing Factors:

The growth of this market is majorly driven by the high prevalence of skin and soft tissue infections, the increasing prevalence of eye diseases, and burns. However, the presence of alternative drug delivery modes such as oral and injectable routes is expected to restrain the growth of this market during the forecast period.

Projected Revenue Surge:

The topical drug delivery market is projected to reach USD 129.8 billion by 2025 from USD 95.2 billion in 2020, at a CAGR of 6.4% during the forecast period.

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The home care settings segment is expected to account for the largest share of the topical drug delivery market in 2019

The home care settings segment accounted for the largest share of the market in 2019. This is attributed to the factors such as the convenience and affordability of topical drugs for home administration. Also, for patients requiring long-term therapy, inpatient care is not only extremely expensive but also prevents patients from resuming a normal lifestyle and work activities. In this regard, technological advancements have helped patients undergo therapies effectively and safely at home.

Geographical Growth Dynamics:

Asia Pacific is expected to grow at the highest CAGR in the topical drug delivery market during the forecast period

The topical drug delivery market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. This is due to high incidence of skin diseases (such as skin cancer), increasing use of contraceptives, and the growing focus of pharmaceutical companies on the R&D of smart transdermal drug delivery systems, all of which are driving adoption of topical drug delivery in the Asia Pacific.

Recent Developments in the Global Topical Drug Delivery Market:

# In 2019, Mylan launched its DICLOFENAC SODIUM Gel.

# In 2019, Nestlé Skin Health opened a new office in Malaysia to accelerate growth in the Southeast Asian market.

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

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