Dermatology Drugs Global Market Report 2021 - COVID-19 Impact And Recovery

The dermatology drugs market size saw a revival to its pre-COVID levels during 2021, and is expected to see high growth during the forecast period.

LONDON, GREATER LONDON, UK, January 4, 2022 /EINPresswire.com/ -- The global dermatology drugs market looks set to resume rapid growth following the pandemic, fuelled by increasing skin allergies and rashes and increased cosmetic concerns. The global dermatology drugs market reached $40 billion in 2019 and is likely to have achieved these levels again in 2021 following a short dip due to the pandemic. Asia Pacific has the largest share in the global dermatology drugs market, and is expected to be one of the fastest growing. Psoriasis is the largest segment of the dermatology treatment market.

The dermatology drugs market includes establishments that produce drugs to treat diseases such as rosacea, dermatitis, hyperhidrosis, androgenic alopecia, acne, microbial infections and other skin disorders. The drugs are sold primarily through pharmacies, hospitals and include branded and generic drugs and those available only through prescription and those available over the counter.

Historic growth over the last 10 years has been 8.9%, while forecast market growth from 2020-2030 is even faster at 10.1%. This expected growth is due to three factors. Air and water pollution leading to skin complaints, the desire for unblemished and attractive skin in particular related to social media images including ‘selfies’, and global economic growth.

Asia Pacific is largest regional market for dermatology products, with a market size of $13.5 billion in 2020, followed by North America and Western Europe. Other regions such as Eastern Europe, South America and Africa are much smaller at $2 billion or less. However, these regions represent some of the strongest growth opportunities; Africa and South America are expected to experience growth in excess of 12% per annum over the next ten years, driven by economic development and improving healthcare.

Psoriasis, Acne and Dermatitis treatments make up some the largest markets for dermatology drugs as per the Global Market Model. Psoriasis is the largest market for dermatological drugs at $15.1 billion. This is due to its wide spread occurrence and chronic nature (often occurring throughout the patients’ lifetime) and the fact that in some cases such Erythrodermic psoriasis it can be severe and dangerous. The Acne treatment market at $3.0 billion is also a large market, as is Dermatitis at $3.1 billion – and this is the fastest growing market, expected to reach $6.7 billion by 2030 due to increased allergic skin conditions caused by contaminants, and higher healthcare expenditure in developing countries.

The Dermatology Drugs Global Market Report is one of a series of new reports from The Business Research Company that provides dermatology drugs market overviews, dermatology drugs market analyzes and forecasts, dermatology drugs market size, dermatology drugs market share, dermatology treatment market players, dermatology drugs market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

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The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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