Rising prevalence rate of skin and eye diseases anticipated to drive the topical drug delivery market in the forecast period of 2019-2025.
Published Date | 2019 October 31
BlueWeave Consulting review study of the Topical Drug Delivery Market anticipated to propel with a significant CAGR of 5.4% in the forecasted period of 2019-2025. The increasing rate of skin and eye disease prevalence is becoming one of the factors to drive growth in the global topical drug delivery market. The rising trend of skin-related diseases such as psoriasis, cancer, etc. due to changing lifestyle patterns is contributing to an increase in the demand for topical drug delivery in the market with a significant growth rate. Rising alternative modes of drug delivery such as injectable, oral, and pulmonary of the drug delivery care sector are anticipated to hamper the growth of topical drug delivery market in the upcoming years.
prevalence of diabetes expected to dominate the global topical drug delivery
The increasing rate of disposable income, preference shifts in eating habits are the key factor contributing to diabetes prevalence. The rising rate of diabetes prevalence is the key factor anticipated to drive the growth and demand of topical drug delivery system in the market with eye care segmentation. semi-solid formulation segment is expected to dominate the global topical drug delivery market due to an advantage factor such as easy drug release, patient acceptability, and multiple applications in the upcoming years with the commendable growth rate.
Technological advancement in the homecare setting is the key factor propelling the growth in the market in the forecast period
Technological advancement in the healthcare sector, coupled with increasing healthcare expenditure anticipated to dominate the global market in the upcoming years. Properties such as deep penetration of drugs within the body, preference shift of patient due to non-invasive nature and increasing rate of geriatric population, R&D, biologics delivery via a transdermal route with small player’s acquisition expected to drive the global topical drug delivery market in the upcoming years with a significant growth rate. The market is anticipated to dominate by homecare setting as a homecare setting to eliminate the hospital visit to save patient time and money. The rising affordability and convenience are the key factor expected to propel the growth during the forecast period of 2019-2025.
Topical Drug Delivery Market: competitive landscape
Some of the major industry players are Glaxosmithkline, Janssen Global Services (A Subsidiary of Johnson & Johnson), Bausch Health Companies, Merck & Co., Bayer AG, Hisamitsu Pharmaceutical, Nestlé Sa, Novartis AG, Glenmark Pharmaceuticals, Cipla and Other Prominent Player.
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