Global Topical Drug Delivery Market is estimated at USD 101.7 billion in 2017 and is projected to reach USD 205.1 billion by 2024, at a CAGR of 9.2% during the forecast period from 2017 to 2024.

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Drivers:
Some of the major factors driving the topical drug delivery market are ability to deliver drug at the desired site, inter-and intra-patient variations, without fluctuations in drug levels, an enhanced suitability for self-medication and improved compliance.
Also, increasing aging population, growing prevalence of skin related ailments and rising prevalence of chronic diseases, also new and better technologies for topical drug delivery is expected to boost the growth of this market are the major factors driving the growth of the injectable drug delivery market.

RISING CASES OF ACUTE AND CHRONIC DISEASES
The prevalence of diseases and conditions such as infections which includes-
• Bacterial infection and fungal infections,
• Inflammations,
• Pain management,
• Acne,
• Sun burns,
• Psoriasis,
• Dermatitis,
• Skin allergy,
• Skin cancer,
• Diabetes and many others have increased considerably over a period of time.

TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS
With the rising prevalence of acute and chronic diseases it has become important for the drug and device manufacturers to develop advanced technologies that will provide more effective treatment for the diseases.
In the few years, many developments took place for the topical drug delivery due to the rapid absorption of drugs.

APPROVAL OF NEW DRUGS
With the increasing demand for the treatment of diseases using painless and non-invasive method the demand for topical drug delivery is increasing.

BETTER OPPORTUNITY IN PHARMERGING MARKETS
According to Data Bridge Market Research analysts, Japan, Europe and North America are expected to account for around 73% of total global pharmaceutical market, while the rest of the world only own 27% of the market.
Major Players: Global Topical Drug Delivery Market

The major players in the topical drug delivery prescription drugs are
• Galderma Pharma, S.A.,
• Allergen Plc. Kaken Pharmaceuticals, Co., Ltd,
• Pfizer,
• Bayer AG,
• 3M,
• Hisamitsu
• Pharmaceuticals, Co., Inc.,
• Abbvie, Inc.,
• Valeant Pharmaceuticals,
• Antares Pharma among others.

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