Global Rx Dermatology Topical Drug Delivery Market (Covid 19 Update) Emerging Technology, Investor Analysis and Worldwide Forecast till 2027
Global Rx Dermatology Topical Drug Delivery Market report identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the industry with analysis on vendors, geographical regions, types, and applications. This market study estimates the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. This report proves to be an indispensable document for every market enthusiast, policymaker, investor, and player. Global Rx Dermatology Topical Drug Delivery Market research report is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis.
Global Rx dermatology topical drug delivery market is expected to reach USD 40,646.26 million by 2026 from USD 29,475.18 million in 2018, growing at a CAGR of 4.2% in the forecast period of 2019 to 2026.
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Topical drugs play an important role in the therapy of dermatologic diseases. Topical dermatology drugs frame a large percentage of products in the drug market. These products are manufactured through specialized manufacturing processes such as precise volume filling, large scale mixing and heating and packaging.
Topical drug administration can be done in the body through ophthalmic, rectal, vaginal and skin as topical routes. In dermatology sector, skin plays a major role for the administration of topical drug for the treatment of skin disease in patients. The topical preparations are applied on the skin for surface, local or systemic effects. The topical formulations include therapeutically active ingredients which help in treating the skin diseases in patients.
Topical drug delivery is one of the most effective ways of drug delivery as it gives optimum therapeutic outcomes. Gradually, the topical drug delivery system has become increasingly important in the pharmaceutical industry. The pharmacological response, both the desired therapeutic effect and the undesired unfavourable effect of a drug is dependent on the concentration of the drug at the place of action, which in turn depends upon the dosage form and the extent of absorption of the drug at the site of action. In dermatology sector, drug molecule applied on the skin which penetrates the skin primarily through the tortuous and continuous intercellular path. These products are available in different forms such as ointments, creams, lotions, gels and others which have the ability to get absorbed in the body and show the positive response in healing wound respectively.
Global Rx Dermatology Topical Drug Delivery Market By Product Type (Semi-Solid, Liquid, Solid), Application (Skin Infections, Dermatitis, Antiaging, Acne, Hyperpigmentation, Rosacea, Skin Cancer, Psoriasis, Onychomycosis, Others), Category (Branded, Generic), Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa) – Industry Trends and Forecast to 2026
Some of the prominent participants operating in this market are Galderma Laboratories, L.P., Hisamitsu Pharmaceutical Co., Inc., Pfizer Inc., LEO Pharma A/S, GlaxoSmithKline plc., ALLERGAN, Bayer AG, 3M, Bausch Health Companies Inc., The Lubrizol Corporation, Cipla Inc., Kaken Pharmaceutical Co.,Ltd. among others.
Segmentation: Global Rx Dermatology Topical Drug Delivery Market
The global Rx dermatology topical drug delivery market is segmented on the basis product type, application, and category.
- On the basis of product type, the market is segmented into solid, liquid and semi-solid. Solid is sub-segmented into powder and others. Liquid is sub-segmented into solution, emulsion, suspension, lotion and others. Semisolid is sub-segmented into creams, gel, ointments, paste, others.
- In December 2016, Pfizer Inc. received approval from U.S. Food and Drug Administration (FDA) for the product called EUCRISATM (crisaborole) ointment 2%. It is a novel non-steroidal topical phosphodieterase-4 (PDE-4) inhibitor. It is used for the treatment of mild to moderate atopic dermatitis (AD). With this launch of the product the company has built a heritage in Inflammation and Immunology sector.
- On the basis of application, the market is segmented into acne, dermatitis, psoriasis, skin infections, antiaging, skin cancer, hyperpigmentation, onychomycosis, rosacea, others.
- In March 2017, Galderma Laboratories, L.P., makers of Cetaphil brand launched seven new facial skincare products. With this launch of the products Cetaphil portfolio of the company has increased. The company has now broad range of specialized solutions for the patients with skin concerns, including hydration and others.
- On the basis of category, the market is segmented into generic and branded.
- In February 2016, Allergan plc received an approval for its product ACZONE (dapsone) Gel, 7.5% from the U.S. Food and Drug Administration (FDA). This product is a new prescription topical treatment which is useful for the treatment of acne in patients 12 years of age and older. The product helped patient in treating acne easily which ultimately helped in increase in revenue.
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- In April 2016, Allergan plc acquired Topokine Therapeutics, Inc. with upfront payment of USD 85.8 million and was eligible to receive contingent development and commercialization milestones of up to USD 260.0 million.
- In February 2019, Kaken Pharmaceutical Co., Ltd. has concluded an exclusive license and distribution agreement for the topical formulation for Onychomycosis in the People’s Republic of China. According to the agreement Kaken Pharmaceutical Co., Ltd., provided exclusive right for the development and commercialization of the Product in PRC and this has led in high revenue generation.
- In April 2019, The Lubrizol Corporation launched its newest multifunctional, 2- in-1 rheology modifier, Carbopol Style 2.0 polymer. The product has the benefits for the skin care such as smooth glossy appearance, unique formulation textures and others. With this launch the product portfolio of the company has increased which resulted higher revenue generation.
- In August 2018, Cipla INC. received final approval for Abbreviated New Drug Application (ANDA) for Diclofenac Sodium Topical Gel, 1% from the U.S. Food and Drug Administration (US FDA). Due to this the company has increased their product portfolio and strong position in market especially in dermatology field.
- In November 2010, 3M re-launched Cavilon Professional Skin Care line. This product helped in preventing skin damage from moisture, friction and adhesive trauma. The product portfolio of the company has increased in dermatology filed and hence increased healthcare revenue.
LOW BIOLOGIC PENETRATION:
Biologics are the medications which are made from animal or the human proteins which has the ability to treat the diseases respectively. They have the ability to treat number of disease such as psoriasis, psoriatic arthritis, other types of arthritis and inflammatory bowel diseases. Due to the low activity of biologics for treating any dermal diseases, topical drugs are overcoming in market for treatment purposes and hence its demand is increasing in market.
INCREASED COMPETITION LEADING TO HIGH INVESTMENTS IN R&D TO INNOVATE NEW PRODUCTS:
The skin disease in recent era is one of the leading diseases among people for which treatments are available. One of the advanced treatments is topical drug delivery system in which skin plays an important role as the drug is applied on the skin that has the capability to deal with the affected areas. Number of companies has taken the initiative in providing high quality of product or drugs for the treatment of skin diseases. This involves the innovation process in pharmaceutical research. Increasing number of diseases requires proper treatment for which topical drugs are playing major role now. Hence many of companies have increased their R&D facilities in order to provide the drugs which are found to be a major factor in driving the market in future.
INCREASING MERGERS AND ACQUISITIONS:
The pharmaceutical industries probably undergo most merger and acquisition (M&A) activity than any other industries involving number of deals and money spending. This activity is required because of increase in the development of a new drug in pharma industry. For instance, In July 2018, Leo Pharma acquired global prescription dermatology unit of Bayer AG (Germany) for an undisclosed price. The aim of this acquisition was to expand their product in skin drugs. Leo Pharma further develops the prescription dermatology business with this acquisition. Increase in acquisition and merger helps the companies to strengthen their revenue along with R&D and manufacturing facility and this ultimate helps in growth of the particular market.
High patient affordability is leading to increased investments from private sector. Many companies are focusing on undertaking strategic developments for increasing their presence in emerging economies. Along with this, the rising aging population and increasing disposable income will contribute to the growth of the market. The topical drug delivery market has a great opportunity as this platform has new elements which have been incorporated for the treatment of skin diseases and mucous membrane. The skin conditions are increasing worldwide which ultimately requires treatment. Increasing awareness in skin disease is also a factor which is helping the market to grow in future.
The side effect of the drugs takes place in human due to long term use of the drugs. There are certain side effects which may takes place in patient’s body after consuming topical drugs. For instance, long term consumption of corticosteroids may cause birth defects in the unborn. Topical drugs can provide better treatment but apart from that the product has side effects too. This happens due to excessive use of topical treatments that increases the risk of both cutaneous and systemic side effects and hence it is hampering the growth of the market.
In last few years, the number of product recalls in the topical drug delivery market has increased tremendously. These product recalls may occur due to failure of compliance such as design or manufacturing defects that may negotiation with the safety, efficacy, and purity of the drug or the drug delivery devices by a drug manufacturing company. For instance, In July 2016, GlaxoSmithKline (U.K.) announced the recall of its Bactroban Ointment and Bactroban Cream due to presence of contamination done during manufacturing; these formulations were used topically for skin infections. Also, in June 2016, Teva Phamaceutical’s migraine drug patch named Zecuity has been recalled for reporting serious burns and potential permanent scarring. Product recalls affects Company’s revenue and ultimately affects the particular market.
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