Global Topical Drug Market By Product (liquid, semisolid, solid), Disease (Dermatology, Ophthalmology, Rectal, Genecology, Respiratory), End User (Hospitals, Clinics, Ambulatory Center), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Topical Drug Market
Global topical drug market is registering a substantial CAGR of 7.4% in the forecast period of 2019-2026. This rise in the market can be attributed to the high incidence of skin disease and increasing occurrence of eye disease.
Market Definition: Global Topical Drug Market
Tropical drug is a type of medicine that is intended to be administered directly to the brain rather than ingested or introduced into the environment. Drugs conducted to the eye, ear and nose are deemed topical drugs and will be discussed in distinct papers. Topical medicine in this paper relates to drugs used directly on the skin. Topical medicines accessible for external application include lotions, creams, ointments, powders (talc), and solutions (liquids).
- High incidence of skin diseases is driving the growth of the market
- Increasing occurrence of eye disease is contributing to the growth of the market
- Increasing diabetes incidence rate is propelling the growth of the market
- Technical developments in the distribution of topical drugs is boosting the growth of the market
- Choice for different methods of distribution of drugs is restricting the growth of the market
- Large rate of item recalls is hindering the growth of the market
- Governmental circumstance and financial stress is hampering the growth of the market
Segmentation: Global Topical Drug Market
By End User
- Ambulatory Center
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In March 2019, Abacus Health Products, Inc., a manufacturer offering CBDMEDIC, the first class of topical medicines mixing active pharmaceutical ingredients with hemp paste and other organic moisturizers, has declared the regional release of 10 over-the-counter (OTC) suffering aid goods. The creative formula of CBDMEDIC is based on 15 years of pharmacological research and development. This product launch has expanded the product portfolio of the company as well as increased its market share.
- In February 2018, Lupin released a new version of its Testosterone Topical Solution, 30 mg per actuation previously approved by the U.S. Food and Drug Administration (FDA). Lupin's Testosterone Topical Solution, 30 mg per actuation, is the standard counterpart of Eli Lilly and Axiron Topical Solution, 30 mg per actuation. Replacement treatment in men is suggested for circumstances connected with defect or lack of endogenous testosterone.
Global topical drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of topical drug market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global topical drug market are Galderma laboratories, Novartis AG, Sanofi, ALLERGAN, Bausch Health., GlaxoSmithKline plc, Pfizer Inc., Abbott., Bayer AG, Johnson & Johnson Services, Inc., Crescita Therapeutics Inc., MedPharm, 3M, Janssen Global Services, LLC, Cipla Inc., L'Oréal, Salvepharma, Tergus Pharma., Ciaga, Alna Biotech Private Limited, Rezicure Pharmaceuticals., Aurelderma and others.
Research Methodology: Global Topical Drug Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global topical drug market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)