The topical drug delivery market size is valued approximately at USD 93.2 billion in 2019,and is expected to thrive at a CAGR of 5.7% over the forecast period 2020-2027. Topical medications are preferable for local therapy and are applied on body surfaces such as skin and mucous membrane, they project good applicability and patient compliance. These medications include creams, foams, gels, lotions, ointments, and others. The high prevalence of skin and eye diseases, high incidence of burn injuries, psoriasis, eczema and the growing prevalence of diabetes are the factors supporting for high end demand of topical products which in turn boost the global topical drug delivery market. The innovations and developments taken by key market players in topical formulation is further going to boost the market. For instance, in December 2018, Cipher Pharmaceuticals Inc. (Canada) obtained approval for its "A-101, 40% topical solution" by Health Canada. This solution is used for treatment of facial SK lesions and target disease is seborrheic keratosis, which is a common type of non -carcinogenic skin outgrowth that nearly impact 9 million Canadian adults. Similarly, in December 2018, GlaxoSmithKline (UK) invested USD 36.0 million in manufacturing sites in Canada to increase the production and support logistics of its blockbuster product "VOLTAREN" which is a topical pain reliever. Furthermore, the rise in demand of topical route of administration, non-invasive nature and increase in population geriatric patients are few remunerative opportunities which is responsible for the growth of the market during the forecast period. However, technical barriers related to skin irritation and permeability of drug, drug failures and product recalls may subject hinderance and instability to the flourishing market.
The regional analysis of the topical drug delivery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the favorable funding for development of topical drugs and innovative topical formulations in the region, along with the presence of a significant number of skilled personnel in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027

Major market player included in this report are:
Johnson & Johnson (US)
Nestle SA (Switzerland)
Novartis AG (Switzerland)
GlaxoSmithKline (UK)
Bausch Health Companies (Canada)
Merck & Co (US)
Bayer AG (Germany)
Hisamitsu Pharmaceutical (Japan)
Glenmark Pharmaceuticals (India)
Cipla Ltd (India)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Semi-solid Formulations
Liquid Formulations
Solid Formulations
Transdermal Products
By Route of Administration:
Dermal Drug Delivery
Ophthalmic Drug Delivery
Nasal Drug Delivery
By Facility of use:
Homecare Settings
Hospitals & Clinics
Other Facilities (academic & research institutes and diagnostic centers)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2018
Forecast period - 2020-2027
Target Audience of the Global Topical drug delivery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors