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(Health-NewsWire.Net, July 16, 2020 ) This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Primary Research:
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the topical drug delivery market.
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Secondary Research:
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, companies house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the topical drug delivery market.
Homecare setting segment dominated the topical drug delivery market, by the facility of use, in 2018
Homecare settings are the major facility of use of topical formulations. The homecare setting segment accounted for the largest share of the topical drug delivery market in 2018. The growing need for self-administration of drugs at home, convenience and better affordability in self-administration due to saving in time and cost, and an increasing number of patients are opting for home-based treatments are some of the key factors driving the growth of this segment.
North America to dominate the Topical Drug Delivery market during the forecast period
In 2018, North America dominated the Topical Drug Delivery market, followed by Europe. The growing prevalence of skin diseases coupled with the development of the technologically advanced topical and transdermal products in the region are the factors propelling the growth of the market in the region. For instance, in February 2018, Scilex Pharmaceuticals (US), launched ZTlido (Lidocaine Topical System) 1.8% patches for the management of pain in the US. Similarly, in December 2017, Aclaris Therapeutics Inc. (US), launched ESKATA (Hydrogen Peroxide) Topical Solution, 40% (w/w) for the treatment of raised seborrheic keratosis in the US market.
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Johnson & Johnson (US), Nestle SA (Switzerland), and Novartis AG (Switzerland) are the key players operating in this market. Other prominent players in the market include GlaxoSmithKline (UK), Bausch Health Companies (Canada), Hisamitsu Pharmaceutical (Japan), Merck & Co (US), Mylan (US) Bayer AG (Germany), Glenmark Pharmaceuticals (India), Cipla Ltd (India), and Crescita Therapeutics Inc. (Canada).
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