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(Medical-NewsWire.com, December 06, 2018 ) The global topical drug delivery market is poised to reach USD 125.88 billion by 2021 from USD92.40 billion in 2016, growing at a CAGR of 6.4% 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.
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North America dominates the topical drug delivery market, followed by Europe. However, the market in the Asia-Pacific is expected to witness the highest growth during the forecast period. The high growth in the Asia-Pacific market can be attributed to the rising geriatric population, increasing healthcare expenditure, rising disposable income, and growing focus of global pharmaceutical companies on the markets in emerging APAC countries.
the topical drug delivery market is categorized into hospitals and private clinics, health care settings, and other facilities of use such as research institutes and diagnostic centers. The hospitals and private clinics segment is expected to be the major end-user in the topical drug delivery market. This large share of this segment can is mainly attributed to the increasing incidence of skin diseases, the subsequent increase in the demand for topical products for the treatment of these diseases, increase in funding, and infrastructural development in hospitals.
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The topical drug delivery market is a fragmented market with several global as well as local players operating in various market segments. The key players in this market are 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).
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
Asia-Pacific market is slated to grow at the highest CAGR during the forecast period. The high growth in the Asia-Pacific market can be attributed to the rising geriatric population, increasing healthcare expenditure, rising disposable income, and growing focus of global pharmaceutical companies on the markets in emerging APAC countries. China, India, and Japan are some of the major markets for topical drugs in the Asia-Pacific region.
Click Here for More Information on Topical Drug Delivery Market by Product Type (Formulation (Solid, Cream, Lotion, Paste, Liquid), Transdermal (Patch, Gel)), Route of Administration (Skin, Ophthalmic, Rectal, Vaginal, Nasal), & Facility of Use (Hospital, Clinic, Home care, Research) - Global Forecast to 2021 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=945871 .
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North America dominates the market, followed by Europe. However, the market in the Asia-Pacific is expected to witness the highest growth during the forecast period. The high growth in the Asia-Pacific market can be attributed to the rising geriatric population, increasing healthcare expenditure, rising disposable income, and growing focus of global pharmaceutical companies on the markets in emerging APAC countries.
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Source: EmailWire.Com 
Source: EmailWire.com
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