Market Size For Topical Drug Delivery Systems Market to Expand SignificantlyPosted by Devanand on April 14th, 2021 Topical drug delivery systems are designed to deliver drugs through topical routes such as the skin, mucosa or cavities in the body. These are applied locally for site specific action or to avoid first pass effect of the drug. Skin is the most readily accessible part of the body with a large surface area and is rich in blood vessels and porous structures, enhancing the absorption of the drugs. The topical drug delivery system has witnessed technological advancements over a period of time and is attracting many researchers to develop novel products in this area. Common skin diseases that are treated preferably by topical drug delivery system include bacterial infections, fungal infections, inflammations and pruritic manifestations, acne, psoriasis, hair and skin problems, and others. Nasal mucosa is highly perfused with blood vessels and has been proven as a site for faster absorption of drugs. Hence, there is increasing research toward the development of targeted drug delivery systems for nasal route. Topical is a highly preferred route of drug administration for the treatment of ocular disorders owing to its site specific action, reduced first pass metabolism, and faster action. Read Report Overview - https://www.transparencymarketresearch.com/topical-drug-delivery-systems-market.html The growing incidence and prevalence rate of tropical diseases is boosting the growth of the topical drug delivery systems market. According to the American Academy of Dermatology, in the U.S., about 50 million people are affected by acne each year. The global topical drug delivery systems market is expected to expand at a fast growth rate during the forecast period owing to factors such as increasing number of patients with skin diseases, preference for novel transdermal delivery systems, growing patient preference towards topical drugs over oral drugs owing to avoidance of bitter taste of the drugs taken orally, and desired site specific actions to treat many disorders. However, high development cost, different solubility profiles of drugs making product formulation challenging, stringent regulatory requirements, and difficult testing procedure of final products are some of the factors restraining the growth of the global market. Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=37007 The global topical drug delivery systems market is segmented based on drug delivery system, route of administration, distributor, and region. In terms of drug delivery system, the global market is segmented into conventional drug delivery systems and novel drug delivery systems. The conventional drug delivery systems segment is further categorized into solid drug delivery systems, semi-solid drug delivery systems, and liquid drug delivery systems. The solid drug delivery systems sub-segment is further divided into powders and suppositories. The semi-solid drug delivery systems sub-segment is further categorized into creams, ointments, gels, and pastes. The liquid drug delivery systems sub-segment is divided into lotions, sprays, solutions, and others. The novel drug delivery systems segment includes nanosomes, liposomes, and transdermal patches. Based on route of administration, the global market is segmented into dermal, ophthalmic, nasal, oromucosal, rectal, and vaginal. In terms of distributor, the market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Geographically, the global topical drug delivery systems market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market for topical drug delivery systems owing to high incidence of skin diseases, growing awareness about cosmetic care, high health care expenditure, and growing R&D activities in the transdermal drug delivery systems by players located in the U.S. Europe is the second largest market due to growing geriatric population, increasing R&D investments, and rising adoption of novel drug delivery systems to treat chronic dermatological conditions. Asia Pacific is considered as an emerging market owing to higher prevalence of skin diseases due to unhealthy lifestyle among general population, and lack of hygiene, along with increasing awareness and accessibility for topical drugs for treatment of various diseases. Key players operating in the global topical drug delivery systems market include GlaxoSmithKline plc, Valeant, 3M, Bayer AG, Novartis AG, Cipla, Galderma S.A., Pharmatek Laboratories, Mylan Pharmaceuticals, Inc., Transdermal Technologies, Inc., and Prosollus Pharmaceuticals. This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions. Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment. The following regional segments are covered comprehensively:
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders. Like it? Share it! More by this author |