Global Topical Drug Delivery Market
Topical Drug Delivery Market Size And Forecast
According to Verified Market Research, Global Topical Drug Delivery Market was valued at USD 84.7 Billion in 2018 and is projected to reach USD 120.3 Billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026.
Global Topical Drug Delivery Market Outlook
The prevalence of skin infections, like eczema, psoriasis, etc. and minor ailments, such as acne has increased the growth of the global topical drug delivery market. Some other key factors such as deep penetration of drugs in the body, growth in preference for topical drug delivery due to non-invasive nature, and rise in the geriatric population are further fueling the market growth. Moreover, some approvals of new drugs and technological advances and innovations are also likely to propel the market growth. For instance, in April 2019, Crescita Therapeutics signed an out-licensing agreement with Cantabria labs for the sales and distribution of its topical Pliaglis formulation. However, the slow onset of action and side effects of topical drugs, such as allergies and rashes might restrict the market growth.
Global Topical Drug Delivery Market Competitive Landscape
suitable insight with an emphasis on global market including some of the major players such as Bayer AG, Nestl Sa, Hisamitsu Pharmaceutical, Glaxosmithkline, Novartis AG, Janssen Global Services (A Subsidiary of Johnson & Johnson), Cipla, Merck & Co., Glenmark Pharmaceuticals, and Bausch Health Companies.
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