Dermatology Drugs Market Value Worth USD 45.35 billion by 2031 – Astute Analytica
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Skin cancer, psoriasis, eczema, and acne are the most prevalent skin conditions. Numerous variables, including genetics, way of life, environmental conditions, and infections, contribute to the development of these disorders. These disorders are becoming more common owing to the alterations in lifestyle and the environment. Various topical and systemic medicines are needed for the treatment of skin diseases. Corticosteroids, antihistamines antifungals, retinoids, and antibiotics are the most widely used topical medications. Immunosuppressants, biologics, and small-molecule therapies are examples of systemic agents.
Acne is the most common skin condition that affects adolescents and young adults, affecting about 85% of them. Psoriasis is a different prevalent chronic skin condition that impacts 2-3% of the population. With more than 2-3 million new cases of non-melanoma skin cancer and more than 132,000 new cases of melanoma per year, skin cancer is the 13th most common type of cancer. There are many effective medicines for many different ailments, but there is still a big unmet need for more effective and secure treatments.
Aspects Contributing to the Growth of the Global Dermatology Drugs Market
Drivers
The rising incidence of skin illnesses is driving growth in the market for dermatology drugs. According to the World Health Organization (WHO), an estimated 3.5 billion people worldwide today suffer from skin problems, a significant increase in incidence over the previous several years. Given that there will be 9 billion people on the planet by the year 2050, the need for dermatology medications is likely to increase significantly during the next years.
The industry's growth is also a result of increased public knowledge of skin health issues and the accessibility of effective treatments. The most frequently prescribed topical drugs include antifungals, corticosteroids, retinoids, antibiotics, and antihistamines. Systemic medications include immunosuppressants, biologics, and small-molecule treatments. Additionally, the type and severity of the condition determine the best course of action.
Restraint
The high prices of dermatology drugs and limited availability of workforce/physicians and dermatologists may affect the market growth.
Segmentation Summary
Drug Type Insights
In the base year 2022, the branded prescription drugs segment registered a revenue share of 53.9% of the global industry. Whereas, the over-the-counter drugs (OTC) segment will see a rise at the highest annual growth rate of 12.0%.
Most dermatology drugs help to treat skin infections, psoriasis, eczema, and acne and come in a variety of formats, including gels, creams, lotions, ointments, and solutions. Some are universally applicable, while others are designed for particular body parts, such as the face or scalp. Additionally, the most often used active ingredients in dermatology medications are retinoids, corticosteroids, antifungals, keratolytic, and antibiotics. While corticosteroids are used to reduce inflammation, retinoids help to clear clogged pores and slow down cell turnover. Antifungal treatment for infection caused by fungi, whereas an antibiotic treats infection caused by bacteria. Keratolytic chemicals help clear the skin's surface of accumulation.
Formulation Insights
According to the formulation segment, the global dermatology drug industry divides into creams, ointments, lotions, tablets, gels, and other formulations based on formulation. This is because skin conditions like eczema, psoriasis, acne, cold sores, hives, and others are becoming more common. Acne occurs more frequently in atopic dermatitis patients between the ages of 12 and 18, particularly in females.
Route of Administration Insights
The tropical drugs segment dominated the global market. The most often-used classes of topical dermatologic drugs are corticosteroids, antifungals, antibiotics, and retinoids. Topical corticosteroids are the most widely used category of topical dermatologic drugs. They can all be used to effectively treat inflammatory skin conditions like eczema, psoriasis, and allergic contact dermatitis.
Topical corticosteroids can be divided into two groups: first-generation and second-generation. The first generation of topical corticosteroids is more potent and has more adverse effects than the second generation. Second-generation drugs are often preferred over first-generation ones in the global dermatology drug market because they are more effective and have fewer negative effects. Skin fungal infections like jock itch, ringworm, and athlete's foot are treated with antifungal medications. Cellulitis and acne are bacterial skin illnesses that are treated with antibiotic medications. Retinoids, which are vitamin A derivatives, are used in the treatment of a variety of conditions, including psoriasis, photoaging, and acne.
Therapeutic Application Insights
Dermatitis and Acne segment led the global market. The majority of persons with acne are treated with topical drugs, while a very small percentage use oral treatments, according to research on the prevalence of acne and its treatment. Salicylic acid and benzoyl peroxide are the most frequently given oral drugs, but tetracyclines are the most widely used topical treatments for acne. Approximately 80% of acne sufferers are between the ages of 12 and 24, according to a survey of the worldwide dermatology treatment market. The majority of people who experience acne are teenagers and young adults. Women are more prone than men to develop acne, accounting for over 60% of those with the condition.
Distribution Channel Insights
The globe is shifting to internet purchasing; hence it is predicted that the online channel segment will expand at a lucrative CAGR. Adults are also increasingly turning to self-medication, which has resulted in the online sale of dermatology drugs and drugs without a prescription.
It is no secret that purchasing items from groceries to clothing has become increasingly popular on the internet. It appears that the list of goods that can be purchased online is now being expanded to include prescription drugs. According to recent research on the worldwide dermatology drug market, more people have been purchasing these medications online recently. In fact, behind only visiting a doctor and obtaining a prescription, it is currently the second most common way to buy these drugs. This trend is happening for a variety of reasons. The fact that purchasing drugs online is more practical is among the most important.
Regional Study
North America controls a major portion of the market. The two nations that use dermatological drugs the most are the United States and Canada for a variety of reasons. First of all, these countries have a higher prevalence of skin conditions compared to other parts of the world. A World Health Organization survey claims that skin disorders affect more than 80% of persons in the United States and Canada.
Second, because the level of living in these countries varies from country to country, people have more discretionary money to spend on items like dermatology prescription drugs or treatment medications. Additionally, the healthcare infrastructure in North America is frequently more developed and capable of enabling reasonable access to dermatology treatments.
Finally, the United States and Canada have substantially more advanced marketing and advertising techniques for dermatology drugs as compared to other regions of the world. Pharmaceutical firms spend a lot of funds advertising their products in these nations, which raises demand for their products.
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Companies Landscape
Some of the top competitors in the global dermatology drugs market are:
Pfizer Inc.
Amgen Inc
Novartis AG
Bausch Health Companies Inc.
Mylan N.V.
Botanix Pharmaceuticals
Merck KGaA
Johnson & Johnson
Bristol-Myers Squibb Company
LEO Pharma A/S
Eli Lilly and Company
Other Prominent Players
Segmentation Outline
The global dermatology drugs market segmentation focuses on Drug Type, Formulation, Route of Administration, Therapeutic Application, Distribution Channel, and Region.
By Drug Type
Branded Prescription Drugs
Generic Prescription Drugs
Over-The-Counter Drugs (OTC)
By Formulation
Ointments
Cream
Lotion
Gel
Tablets
Other Formulations
By Route of Administration
Oral Medicines
Topical Medicines
Parenteral Medicines
By Therapeutic Application
Acne
Dermatitis
Psoriasis
Rosacea
Inflammatory dermatoses
Others
By Distribution Channel
Retail Channel
Non-retail
Online Channel
By Region/Country
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Thailand
Singapore
Vietnam
Indonesia
Malaysia
Philippines
Cambodia
Rest Of ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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