Topical Drug Delivery Market Worth $129.8 Billion By 2025
Summary
- Delivery of biologics through the transdermal route.
- Self-administration and home care.
Global Topical Drug Delivery MarketSize Estimation:
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by product, route of administration, facility of use, and region).
What the Market Looks Like?
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.
Data Triangulation:
After arriving at the market size, the total topical drug delivery market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation, and market breakdown procedures were employed, wherever applicable.
Major Growth Boosters:
The growth of this market is majorly driven by the high prevalence of skin and soft tissue infections, the increasing prevalence of eye diseases, and burns.
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Restraint: Preference for alternative modes of drug delivery
Several alternative drug delivery modes are available for patients and end users. The benefits of these alternatives over topical drug delivery form a key restraint to the growth of this market. Of these, the oral route is the most preferred as it is easy to use, convenient, cost-effective, safe, and acceptable.
Furthermore, orally administered drugs can be conveniently stored and are portable, economical, noninvasive, and safe. No special training is required for the administration of these drugs as compared to topical formulations. Injectables also witness widespread use—for example, insulin injections for diabetics to self-administer.
Opportunity: Delivery of biologics through the transdermal route
The delivery of biologics through the transdermal route is one of the emerging trends in the topical drug delivery market. The transdermal delivery of large molecules as an alternative to intramuscular, subcutaneous, or intravenous routes of administration is expected to provide significant patient benefits, such as painless drug delivery and cost-effective treatment.
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