World Topical Drug Delivery Market to Exhibit 6.4% CAGR through 2021, Predicts M&M in Its In-Demand Report Available at MarketPublishers.com
12 Apr 2017 • by Natalie Aster
LONDON – In the past year, the value of the world’s topical drug delivery market was equal to USD 92.4 billion; it is predicted to grow over 2017-2021 to exceed USD 125.88 billion by the year 2021. The global topical drug delivery market is expected to register a 6.4 CAGR through 2021. Key market growth driving factors include increasing geriatric population, high incidence of burn injuries as well as escalating diabetes incidence.
Owing to the high incidence of different skin disease, strong demand for self-administration and rising number of product approvals for various skin-related drug delivery systems, the topical drugs administered through the skin are likely to exhibit the fastest growth through 2021.
The hospitals and private clinics sector is predicted to be the dominant end-use sector in the overall drug delivery market; this is attributed to rising funding, ongoing infrastructural development in hospitals, escalating incidence of skin diseases together with rapidly increasing demand for topical products to treat such diseases.
At present, North America takes lead in the world’s market for topical drug delivery, followed by Europe. But, in the years ahead the highest growth is expected in the APAC market; this is primarily due to constantly increasing healthcare expenditures and disposable incomes in the region, enhancing focus of top Pharmacos on the emerging markets.
In-demand research publication “Topical Drug Delivery Market by Product Type, Route of Administration, & Facility of Use - Global Forecast to 2021” prepared by MarketsandMarkets (M&M) gives access to a detailed overview of the top trends in the global market for topical drug delivery as well as investigates the historical development and the present scenario of the market across the key geographies. The report contains updated statistics and valuable data on the key influencing factors, opportunities, threats, segmentation, shares, competitive environment and regulative framework. Additionally, the report offers a future outlook through 2021.
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