HOME Research Insight Major Players in the Topical Drug Delivery Market are Focusing on Product Launches and Approvals as their Key Growth Strategy

Major Players in the Topical Drug Delivery Market are Focusing on Product Launches and Approvals as their Key Growth Strategy

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.

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.

Related Reports:

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

Mr. Rohan
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports