Dermatologicals Market Is Expected to Reach $36.20 Billion by 2026: Says AMR
Rise in prevalence of skin disorders, surge in healthcare expenditure across the world, and increase in focus on skin care products drive the growth of the global dermatologicals market. By disease, the psoriasis segment garnered the major share in 2018. On the other hand, by geography, Asia-Pacific would project the fastest CAGR of 12.3% by 2026.
Portland, OR, March 31, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Dermatologicals Market was estimated at $15.56 billion in 2018 and is expected to hit at $36.20 billion by 2026, registering a CAGR of 10.9% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Rise in incidence of skin disorders, increase in healthcare expenditure across the world, and surge in focus on skin care products fuel the growth of the global dermatologicals market. On the other hand, presence of alternatives for acne treatment curbs the growth to some extent. However, development in emerging economies is expected to usher in several growth prospects in the industry.
The psoriasis segment to maintain its dominance till 2026-
Based on disease, the psoriasis segment held the largest share in 2018, generating nearly two-fifths of the global market. At the same time, the dermatitis segment would showcase the fastest CAGR of 12.3% by 2026. The other segments discussed in the report include skin cancer, rosacea, and alopecia.
The prescription-based drugs segment garnered the lion’s share in 2018-
Based on type, the prescription based drugs segment accounted for nearly two-thirds of the total market revenue in 2018, and is projected to dominate throughout the forecast period. Simultaneously, the over-the-counter-drugs segment would register the fastest CAGR of 11.7% till 2026.
North America to rule the roost in terms of revenue-
Based on geography, North America contributed to around two-fifths of the total market revenue in 2018, and is anticipated to lead the trail during the study period. The Asia-Pacific Region, on the other hand, would cite the fastest CAGR of 12.3% from 2019 to 2026. The other provinces discussed in the report include Europe and LAMEA.
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Key players in the industry-
The key market players analyzed in the global dermatologicals market report include Johnson & Johnson, AstraZeneca, Merck KGaA, Pfizer Inc., Bayer AG, Novartis AG, GlaxoSmithKline plc, Galderma S.A., Amgen Inc., and AbbVie Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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