Global Growth Driving Factors:

The global Topical Drug Delivery Market is expected to grow due in large part to the high rate of burn injuries, rising global smoking rates, rising diabetes prevalence, and improvements in transdermal drug delivery systems.

Driver: High Burn Injury Incidence

One of the main uses for topical medications is the treatment of burn injuries. Topical antimicrobial medications, such as Bactroban (GSK), Silvadene (Pfizer), Sulfamylon cream (Mylan), and Fenistil (GSK), are thought to be the best treatments for burn injuries in patients.

With over 8 million disability-adjusted life years (DALYs) caused by burns in 2021, burns were one of the leading causes of disability, according to the Lancet Public Health. Because burn injuries are so common in the world's major regions, topical medications are in high demand for managing and treating burn injuries. To treat burns, numerous topical antimicrobial agents are used. Patients with second and third degree burns are treated for wound infections with an antimicrobial agent, such as silver sulfadiazine cream.

Restraint: Topical medication-induced allergies and persistent skin irritation

Numerous topical formulations, such as antibacterial and antifungal preparations, anti-inflammatory and pain-relieving preparations, and cleansing and moisturizing agents, are sold over-the-counter. Many inflammatory rashes are treated with topical corticosteroids. On the other hand, topical corticosteroid sensitivity can occasionally result in allergic reactions. This is typically interpreted as a sign that corticosteroid-treated dermatitis has not improved or been cured. Rarely, a corticosteroid allergy may manifest as an eczematous rash in a body part that is entirely unrelated to the initial dermatitis. Certain topical antibiotics, like bacitracin, which is used to treat minor skin injuries like cuts, scrapes, and burns, can also result in contact allergies. Among the active ingredients in topical formulations that cause allergies are salicylate and benzocaine.

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Projected Surge in Revenue:

Revenue from topical drug delivery was projected to reach $207.4 billion globally in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% to reach $317.8 billion by 2027.

Global Leading Companies Operating in this Industry:

The global topical drug delivery market is consolidated at the top, with various players governing major shares in the market. Some of the major players in the 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), and 3M (US).

Lets Dive Deep in Key Player's Profile:

Glenmark Pharmaceuticals Ltd. (India) has a strong presence in drug discovery, API, and finished dose formulations. The business split up into three distinct companies: Ichnos Sciences, Glenmark Life Sciences, and Glenmark Pharmaceuticals. The company sells over-the-counter (OTC), novel molecular entities (NMEs), active pharmaceutical ingredients (APIs), and generic and branded formulations.

With products that are medically essential in critical therapy areas like dermatology, oncology, and respiratory, the company has an impressive portfolio. Through this market, the company also provides a large selection of generic products and topical formulations (such as gels, creams, ointments, and lotions).

Galderma (Switzerland) offers premium brands and services across Aesthetics, Consumer Care, and Prescription Medicine. Under each of the three categories, the company sells topical products. Botulinum neuromodulators and hyaluronic acid (HA) fillers are used in aesthetics. Consumer care brands include Loceryl, which treats fungal nail infections, Benzac and Differin OTC for mild-to-moderate acne, and Cetaphil, which offers a broad range of skincare products for people of all ages.

With production facilities and research and development facilities spread across Asia Pacific, Europe, the Middle East, Africa, and North and Latin America, the company has operations across the globe. They employ more than 1200 people at four manufacturing locations, and they run operations out of 50 locations across 40 countries. To expand, the company is entering into a number of agreements and product launches.

Johnson & Johnson Private Limited (US) primary focus is products related to human health and well-being. The three business segments that comprise J&J are Medical Devices, Pharmaceuticals, and Consumer Health. The company's Consumer Health and Pharmaceutical business segments include topical drug delivery products. Products used in the areas of skin health and beauty, over-the-counter medications, oral care, baby care, women's health, and wound care are all included in the Consumer Health segment.

The pharmaceutical segment is concentrated on six therapeutic areas: neuroscience (e.g., mood disorders, neurodegenerative disorders, and schizophrenia), oncology (e.g., prostate cancer and hematologic malignancies), immunology (e.g., rheumatoid arthritis, inflammatory bowel disease, and psoriasis), infectious diseases (e.g., HIV/AIDS), and pulmonary hypertension (e.g., pulmonary arterial hypertension).

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Recent Developments:

# In 2022, Galderma and Taro Pharmaceutical Industries Ltd. signed a definitive agreement for Taro to acquire Alchemee, which is formerly The Proactiv Company, from Galderma. This agreement between Galderma and Taro includes Alchemee’s business and assets around the world, including the Proactiv brand. This agreement will add Proactiv to Taro’s broad portfolio of prescription and over-the-counter dermatology products.

# In 2021, GlaxoSmithKline plans to build a new global campus and innovation center in Weybridge. This campus will house the global headquarters for the new Consumer Healthcare business, including an innovation center (made up of R&D laboratories and the Consumer Healthcare Shopper Science lab) and the company’s global support function teams based in the UK.

# In 2020, Teva Pharmaceuticals Industries Ltd. expanded in Japan, it was a new strategy for its local commercial operations as it will focus on commercializing complex generics, specialty assets, and other pipeline opportunities.

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