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Topical Drug Delivery Market - Impact of COVID19 Pandemic on the Global Industry Revenue

(PharmaNewsWire.Com, September 05, 2022 ) Research Methodologies Followed for This Study:

Secondary Research:

This research study involved the use of comprehensive secondary sources; directories and databases such as D&B, Bloomberg Business, and Factiva; and white papers, annual reports, and companies’ house documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the Topical Drug Delivery Market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, technology perspectives, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

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. Primary sources from the supply side and demand side are detailed below. Industry experts such as CEOs, presidents, vice presidents, directors, marketing directors, marketing managers, and related executives from various key companies and organizations in the topical drug delivery industry were interviewed to obtain and verify both the qualitative and quantitative aspects of this research study. A robust primary research methodology has been adopted to validate the contents of the report and fill in the gaps.

COVID-19 Impact on Topical Drug Delivery Market

During the COVID-19 pandemic surge, self-medication was a usual pattern for consuming medicines during COVID-19. Due to the pandemic, many treatment facilities and single doctor clinics were closed, depriving common people of timely medical assistance. The pandemic has encouraged self-medication. Topical corticosteroids were the most used therapeutic strategies for self-medication. The most used topical drugs were anti-acne preparations, corticosteroids, combinations (corticosteroids, antibiotics, and antifungals), moisturizers, and barrier creams. Self-medication has increased the demand for over-the-counter and topical drugs, positively impacting the topical drug delivery market.

During COVID-19, one of the main symptoms was running nose, cold, and cough. Nasal sprays used during COVID-19 were effective in curing nasal congestion. For example, Amcyte Pharma launched its Nasitrol nasal spray (topical solution) for sinus irrigation. The nasal cavity and the rhino pharynx were the key sites of the initial replication of SARS-CoV-2. The spray is formulated to reduce the viral load in upper respiratory airways, preventing viruses from proliferating and spreading into the lungs. This increase in nasal sprays that can suppress the viral load during COVID-19 has increased the demand for topical sprays and foams used to relieve the nasal congestion caused by the virus.

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Major Growth Boosting Factors:

Growth in this market is majorly driven by the high incidence fo burn injuries, increasing number of smokers around the world, growing prevalence of diabetes, and advancements in transdermal drug delivery systems.

Expected Revenue Gains:

The global topical drug delivery market is projected to reach USD 317.8 billion by 2027 from USD 207.4 billion in 2022, at a CAGR of 8.9%.

Restraint: Continuous irritation on skin and allergies caused by topical drugs

Many topical formulations are available over the counter and include antibacterial & antifungal preparations, anti-inflammatory & pain-relief preparations, and cleansing & moisturizing agents. Topical corticosteroids are used in many inflammatory rashes. However, in some cases, topical corticosteroid sensitivity produces allergic reactions. Usually, this is seen as a failure to cure dermatitis or to worsen existing dermatitis treated with corticosteroids. Very rarely, corticosteroid allergy may appear as an eczematous rash in a completely different area of the body from the original dermatitis.

Challenge: Topical formulation for drugs with limited plasma concentration

Topical drug delivery refers to the application of medication to the surface of the skin or within the layers of skin or mucous membrane. Skin acts as a barrier and prevents the penetration of many APIs, even though it is an ideal site to achieve both local and systemic effects via the delivery of drug substances. However, drugs that have a larger particle size are not easily absorbed through the skin. To facilitate skin absorption, the molecular weight of a compound should be under 500 Dalton when developing drug substances for use in topical dermatological therapies. These high molecular weight drugs are poorly lipid-soluble and cannot achieve the desired therapeutic effect and action. Percutaneous absorption decreases with high molecular weight. This decreased therapeutic effect of topical medicines limits the adoption of topical drug delivery.

Opportunity: Rising demand for self-administration and home care

Self-administration of drugs within home care settings is expected to provide significant growth opportunities for players operating in the topical drug delivery market. This is mainly due to the rising geriatric population and closing regular OPDs for a few months during COVID-19. Elderly individuals form a large consumer base for topical drugs in-home care. This factor also increases the need for inhalation, topical, and transdermal drug products designed to cater to the needs of caregivers and patients.

Transdermal drug delivery enhances the ease of administration of drugs as it uses a transdermal patch that can be easily self-administered. It provides suitable and painless self-administration for patients. This approach helps reduce healthcare costs by reducing the duration of hospital stays. Also, in the case of transdermal patches, caregivers can easily determine if a patch is placed securely. This acts as one of the main opportunities to increase the demand for transdermal patches, boosting the growth of topical drug deliveries.

North America accounted for the largest share of the topical drug delivery market in 2021

In 2021, North America accounted for the largest share the topical drug delivery market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the rising prevalence of target health conditions, the increasing preference for pain-free drug delivery solutions, the growing prevalence of skin diseases, an increasing number of smokers around the world, rising advancements in transdermal patches, and the high demand for drugs that can be self-administered.

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Key Market Players

Major players in the topical drug delivery market are Glenmark Pharmaceuticals Ltd. (India), Galderma (Switzerland), Johnson & Johnson Private Limited (US), GlaxoSmithKline Plc. (UK), Bausch Health Companies Inc. (Canada), Hisamitsu Pharmaceuticals Inc. (Japan), Cipla (India), Bayer AG (Germany), Viatris Inc. (Mylan N.V.) (US), 3M (US), Merck & Co.Inc.. (Germany), Crescita Therpeautics Inc. (Canada), Novartis International AG (Switzerland), Boehringer Ingelheim International GmBH (Germany), Pfizer Inc. (US), Teva Pharmaceuticals Industries Ltd. (Israel), Bristol Myers Squibb (US), Lead Chemical Co., Ltd. (Japan), Purdue Pharma L.P. (US), Lavipharm (Greece), AbbVie Inc. (US), CMP Pharma, Inc. (Germany), Encore Dermatology, Inc. (US), Prosolus Inc. (US), and Rusan Pharma Ltd. (India).


Mr. Aashish Mehra


Source: EmailWire.Com


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