The overall Topical Drug Delivery Market is expected to grow from USD 92.40 billion in 2016 to USD 125.88 billion by 2021, at a CAGR of 6.40% from 2016 to 2021.
Major factors driving the growth of this market are the high incidence of burn injuries, rising geriatric population, and increasing incidence of diabetes. Topical drug delivery is a method of drug administration in the body through ophthalmic, rectal, vaginal, and skin as topical routes to achieve its therapeutic effect. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
Galderma S.A. (Switzerland), GlaxoSmithKline plc (U.K.), Valeant Pharmaceuticals International, Inc. (Canada), Crescita Therapeutics Inc. (Canada), Medpharm (U.K.), 3M (U.S.), Bayer AG (Germany), Novartis AG (Switzerland), Janssen Global Services, LLC (U.S.), and Cipla (India) are the prominent players operating in the topical drug delivery market.
GlaxoSmithKline (GSK) plc is the leading player in this market. The company offers products for various dermatological conditions, such as acne, dermatoses, fungal infections, atopic dermatitis, psoriasis, superficial skin infections, and non-melanoma skin cancer. The company primarily focuses on inorganic growth strategies to strengthen its position in the market. For instance, in 2009, GSK acquired Stiefel Laboratories Inc. (U.S.), a dermatological pharmaceutical company, for USD 2.9 billion. Through this acquisition, GSK combined its existing dermatological products with Stiefel’s products.
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Novartis AG is the next leading player in the topical drug delivery market. The company manufactures healthcare and pharmaceutical products. It operates in three segments, namely, Pharmaceuticals, Alcon (Eye Care), and Sandoz (Generics). The company has a broad range of access-to-medicine programs which include drug donations, selling at cost, social business initiatives, and patient assistance programs. In order to maintain its position, the company invests in R&D activities which help it to develop and launch new and advanced products. In 2015, the company invested 18.1% of its total revenue on R&D activities, as compared to 17.4% in 2014. Novartis also focuses on acquisitions to sustain its strong presence in the market. For instance, in December 2016, Novartis acquired Ziarco Group Limited (U.K.), a privately held company focused on the development of novel treatments in dermatology. This acquisition strengthened Novartis’ dermatology portfolio and pipeline.
The overall growth strategies mapped from January 2013 to June 2017 include partnerships, agreements, collaborations, alliances, product launches and approvals, acquisitions, and expansions. Among these, product launches & product approvals and expansions were the key strategies adopted by industry players to achieve growth. Galderma S.A. (Switzerland), Valeant Pharmaceuticals International, Inc. (Canada), and Janssen Global Services LLC (U.S.) were some of the key players that adopted these strategies.
For instance, in December 2016, Galderma S.A received approval from the U.S. Food and Drug Administration (FDA) to market Restylane Refyne and Restylane Defyne. Similarly, in September 2016, Crescita Therapeutics Inc. received approval for its Pliaglis topical anesthetic cream for commercial sale in Mexico. In November 2014, Valeant Pharmaceuticals received an approval from the U.S. Food and Drug Administration for ONEXTON Gel (clindamycin phosphate and benzoyl peroxide), used as a once-daily treatment of comedonal and inflammatory acne.
Target Audience
- Hospitals and Private Clinics
- Ambulatory Surgery Centers (ASCs)
- Academic Institutes
- Medical Research Institutes
- Market Research and Consulting Firms
- Venture Capitalists
- Suppliers and Distributors of Topical Products
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