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(Health-NewsWire.Net, April 16, 2021 ) 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. The high prevalence of skin and soft tissue infections, the increasing prevalence of eye diseases, and burns are the primary growth factors for this market. However, the presence of alternative drug delivery modes such as oral and injectable routes is expected to restrain the growth of this market in the coming years.
The topical drug delivery market is consolidated at the top with a large number of leading market players based in developed countries.
The prominent players operating in this market include Johnson & Johnson (US), Nestlé SA (Switzerland), Novartis AG (Switzerland), GlaxoSmithKline (UK), Bausch Health Companies (Canada), Merck & Co (US), Bayer AG (Germany), Hisamitsu Pharmaceutical (Japan), Glenmark Pharmaceuticals (India), Cipla Ltd (India), Crescita Therapeutics Inc. (Canada), Mylan (US), Encore Dermatology, Inc. (US), LEO Pharma (Denmark), Almirall, S.A (Spain), Aclaris Therapeutics, Inc. (US), Taro Pharmaceutical Industries Ltd. (US), Teligent Pharma (US), Perrigo Pharma (US), Allergan (Ireland), Biofrontera, Inc. (US), Crown Laboratories Inc. (US), Akorn Inc. (US), Ingenus Pharmaceuticals (US), and Sun Pharmaceuticals (India).
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Janssen Global Services LLC, a subsidiary of Johnson & Johnson provides medicines for an array of health concerns in several therapeutic areas, such as general medicine, mental health, neurology, pain management, and women’s health. To maintain its leading position in the market, the company focuses on acquisitions. For instance, in January 2018, Johnson & Johnson entered into a definitive agreement to acquire Ci:z Holdings Co., Ltd. (Japan). The acquisition gives J&J access to Ci:z Holdings’ line of topical skin health products, helping it diversify its drug portfolio in Japan and other Asia Pacific countries.
Galderma, a subsidiary of Nestlé, is a provider of dermatology solutions and aesthetic and corrective products internationally. The company offers a broad portfolio of topical products, which include drugs, medical dermatology solutions, and therapeutic skin care products that are used in the treatment of hair, nail, and skin diseases. The company focuses on product approvals, product launches, and expansions to maintain its leading position in the topical drug delivery market.
Novartis manufactures healthcare and pharmaceutical products. It operates in three segments—Pharmaceuticals, Alcon (Eye Care), and Sandoz (Generics). The company has a broad range of access-to-medicine programs, which include drug donations, social business initiatives, and patient assistance programs. Novartis has a presence in over 155 countries, including the US, Europe, Asia, Africa, and Latin America.
In order to maintain its leading position, the company significantly invests in R&D activities, which helps it to develop and launch new and advanced products. In 2018, the company invested 12.6% of its total revenue on R&D activities. A diversified product portfolio, wide geographical reach, and constant focus on R&D have enabled the company to create a strong foothold in the topical drug delivery market.
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