Topical drug delivery has the advantage of delivering drugs more selectively to a specific site. Moreover, the use of topical drugs helps avoid fluctuation in drug levels, improves compliance, and facilitates self-medication. As a result, the topical route is preferred over other routes of drug delivery for the treatment of many diseases/conditions. On the other hand, topical delivery involves painless administrations and minimal risk of infections. Considering these advantages, many pharmaceutical companies are developing and launching topical drugs for indications that were traditionally treated using oral or injectable drugs.

The Following are the Major Objectives of this Study:

• To describe and forecast the Topical Drug Delivery Market, in terms of value, by product type, route of administration, and facility of use
• To describe and forecast the topical drug delivery market, in terms of value, by region–Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW) along with their respective countries
• To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of topical drug delivery
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the reed sensor ecosystem
• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
• To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the reed sensor market

During this research study, major players operating in the topical drug delivery market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market.

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The topical drug delivery market is expected to reach USD 125.88 Billion by 2021 from USD 92.40 Billion in 2016 at a CAGR of 6.4% during the forecast period. Major factors driving the growth of this market are the high incidence of burn injuries, rising geriatric population, and increasing incidence of diabetes. However, the negative impact of product recalls may restrain the growth of this market in the coming years.

The topical drug delivery market is segmented based on product type, route of administration, facility of use, and regions. On the basis of product type, the market is segmented into formulations and devices (transdermal drug delivery). Transdermal drug delivery is expected to offer lucrative growth opportunities and represents a new revenue pocket for market players. This is because transdermal drug delivery offers enhanced therapeutic efficiency and helps maintain a steady plasma level of the drug.

On the basis of route of administration, the market is segmented into skin, ophthalmic, rectal, vaginal, and nasal routes. Considering the high incidence of skin diseases, high demand for self-administration, and the increasing number of product approvals for skin-related drug delivery systems, the market for topical drugs administered through the skin is expected to register the highest CAGR during the forecast period.

Based on facility of use, the topical drug delivery market is categorized into hospitals and private clinics, health care settings, and other facilities of use such as research institutes and diagnostic centers. The hospitals and private clinics segment is expected to be the major end-user in the topical drug delivery market. This large share of this segment can is mainly attributed to the increasing incidence of skin diseases, the subsequent increase in the demand for topical products for the treatment of these diseases, increase in funding, and infrastructural development in hospitals.

Based on region, North America dominates the topical drug delivery market, followed by Europe. However, the market in the Asia-Pacific is expected to witness the highest growth during the forecast period. The high growth in the Asia-Pacific market can be attributed to the rising geriatric population, increasing healthcare expenditure, rising disposable income, and growing focus of global pharmaceutical companies on the markets in emerging APAC countries.

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Key players operating in the global topical drug delivery market are Galderma S.A. (Switzerland), GlaxoSmithKline plc. (U.K.), Valeant Pharmaceuticals International, Inc. (Canada), Crescita Therapeutics Inc. (Canada), Medpharm (U.K.), 3M (U.S.), Bayer AG (Germany), Novartis AG (Switzerland), Janssen Global Services, LLC (U.S.), and Cipla (India).

Major Market Developments:

• In January 2017, Johnson & Johnson entered into a definitive agreement to acquire Actelion, a Switzerland-based biotech company, for USD 30 billion. The acquisition gives J&J access to the Swiss group’s line of high-price, high-margin medicines for rare diseases.
• In December 2016, Novartis signed an agreement with Encore Vision, Inc. (U.S.) to acquire the latter’s clinical-stage, disease-modifying, topical treatment for presbyopia.
• In December 2016, Galderma received approval from the U.S. Food and Drug Administration (FDA) to market Restylane Refyne and Restylane Defyne.
• In December 2015, Valeant Pharmaceuticals signed an agreement with Walgreens (U.S.) with an aim to extend its distribution model to additional participating independent retail pharmacies.

Target Audience:

• Hospitals and Private Clinics
• Ambulatory Surgery Centers (ASCs)
• Academic Institutes
• Medical Research Institutes
• Market Research and Consulting Firms
• Venture Capitalists
• Suppliers and Distributors of Topical Products

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