11 November 2020
Visiongain has published a new report Topical Drug Delivery Market Report 2020-2030: Forecasts by Product (Semi-solid Formulations (Creams, Ointments, Lotions, Gels, Pastes)), (Liquid Formulations (Suspensions, Solutions)), Solid Formulations (Powders, Suppositories)), and (Transdermal Products (Transdermal Patches, Transdermal Semi-solids), and by Region (North America, Europe, Asia Pacific, Latin America and the Middle East & Africa) PLUS Analysis of Leading Topical Drug Delivery Companies AND COVID-19 Recovery Scenarios.
The topical drug delivery market is projected to reach USD xx Bn by 2030 from USD xx Bn in 2019, at a CAGR of xx%. COVID-19 pandemic has spread across 215 countries, affecting over billions of people globally. According to the statistics by WHO, there were more than 24 million confirmed cases and over 800,000 deaths by the end of August 2020. Owing to the outbreak of COVID-19 pandemic, there are many restrictions and lockdown implemented by the governments of many countries to limit the spread of this disease. The restrictions and lockdowns implemented globally, especially in the Asian countries such as China and India, has negatively affected the supply of raw materials to the manufacturing sites as well as supply of manufactured drugs to the end users. The normalization of the global economy is expected to increase slowly after 2021, which will also help to normalize the supply chain and transportation scenario and increase the growth of market.
A topical drug is a medication that is applied to a particular place on or in the body. Most often topical administration means application to body surfaces such as the skin or mucous membranes to treat disease and disorders through a large range of classes including semi-solid formulation (creams, ointments, lotions, gels, paste), liquid formulation (suspensions, solutions), solid formulation (powder, suppositories) and transdermal products (transdermal patches, transdermal semi-solids). These topical drugs are epicutaneous, meaning that they are applied directly to the skin. Topical drugs may also be inhalational, such as asthma medications, or applied to the surface of tissues other than the skin, such as eye drops applied to the conjunctiva, or ear drops placed in the ear, or medications applied to the surface of a tooth.
According to the American Academy of Dermatology Association, acne is the most common skin condition in the United States, affecting up to 50 million Americans annually. One in 10 people develops atopic dermatitis during their lifetime. Rosacea is a common skin disease that affects 16 million Americans and approximately 7.5 million people in the United States have psoriasis. Psoriasis is a chronic, painful, disfiguring, disabling but non-communicable disease for which currently there is no cure. Thus skin disease in current era is one of the leading diseases among people where topical drug delivery system plays an important role as the drug is applied on the skin that has the capability to deal with the affected areas. Moreover other factors such as high prevalence of diabetes, age and lifestyle associated diseases, which includes macular degeneration, cataracts, diabetic retinopathy, glaucoma, dry eye syndrome, inflammation and ocular allergies and growing incidence of burns injuries are also contributing considerably to the growth of topical drugs delivery market.
The semi-solid formulations segment is expected to account the largest market share of the market in 2019 and expected to dominate the market by growing at the highest CAGR during the forecast period. Novel semisolids formulations are produced using a water-washable base, which allows for less skin irritation. Innovative topical creams developed with nanoparticles and microspheres are another evolving technology in the semisolid formulation space. A nano or micronized particle permits increased bioavailability which results in increased absorption and efficacy of the drug product. Laser diffraction, dynamic light scattering (DLS), disc centrifugation and light microscopy are various recent techniques involved in achieving particle size distribution.
The Visiongain report analyst commented “That delivery of biologics through the transdermal route is anticipated to open new avenues for the manufacturers of topical drugs. Transdermal route provides appropriate and painless self-administration for patients. It overcomes frequent dosing administration, plasma level instability related to oral dosing and injections to uphold constant drug concentrations, and a drug with a short half-life can be supplied effortlessly. Moreover, it permits multiple dosing, on-demand or variable-rate delivery of drugs thereby adding more aids to conventional patch dosage forms.”
In 2019, North America seized the dominant share in the global topical drug delivery market. However, Asia-Pacific region is projected to record lucrative growth and is expected to witness the highest CAGR during the forecast period. The rising prevalence of skin diseases, and increasing diabetic population coupled with new product approvals, launches of innovative topical formulations and funding for the development of topical drugs are some of the key factors driving the growth of the Asia-Pacific market.
However, alternative mode of drug delivery such as intravenous infusion drug delivery, subcutaneous (SC), intra-dermal, and intramuscular (IM) modes may gain a strong market hold and further may pose a negative impact on the growth of topical drug delivery market. Also, product recalls occurred due to failure of compliance such as design or manufacturing defects that led to the loss of safety, efficacy, and purity of the drug or the drug delivery devices by the drug manufacturing company may further hamper the market growth.
Key manufacturers are adopting several strategies and development which may lead to increase in the development of a new drug in pharma industry. In Aug 2020, LEO Pharma A/S, announced that delgocitinib cream, an investigational topical pan-Janus kinase (JAK)-inhibitor, has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for the potential treatment of adults with moderate-to-severe chronic hand eczema (CHE). In March 2020, Hisamitsu Pharmaceutical Co. Inc. launched launched Secuado® transdermal system. The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Key players profiled in the report include Glaxosmithkline, Johnson & Johnson, Bausch Health Companies, Merck & Co., LEO Pharma, Hisamitsu Pharmaceutical, Novartis AG, Glenmark Pharmaceuticals, Cipla and Mylan AV.
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