DUBLIN–(BUSINESS WIRE)–The “Global Dermatology Drugs Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
The global dermatology drugs market is expected to grow at a CAGR of 11.22% over the forecast period to reach US$47.892 billion by 2027, from US$22.747 billion in 2020.
Dermatology is a field of medicine that deals with diseases of the skin, hair, and nails, with psoriasis, eczema, and acne vulgaris being the most common. Dermatological drugs are used to treat and manage diseases of the skin, nails, hair, and genital membranes.
Due to reasons such as nutritional insufficiency, poor eating habits, increased stress, pollution and lack of immunity of the world’s population, the pool of people affected by dermatological problems has rapidly expanded in recent years. years. The demand for suitable treatment methods and dermatological drugs for the treatment of dermatological disorders has increased accordingly. The global dermatology drugs market is segmented by indication, route of administration, end user and geography.
The main growth drivers for the market are the increasing prevalence of dermatological conditions and the boom in healthcare research and development.
One of the most significant factors in the dermatological drug industry is the increasing prevalence of skin diseases. Trauma, environmental and hereditary factors, and age are just some of the main variables that contribute to the development of skin diseases in millions of people around the world.
The healthy functioning of human skin begins to deteriorate with age leading to incidence of various skin diseases, propelling the dermatology drug market forward. Additionally, as people age, they begin to experience a variety of other problems, including slower wound healing, increased sensitivity to ultraviolet (UV) light, increased susceptibility to infections, and loss of subcutaneous fat. According to Australian research, acne vulgaris affects more than 4% of the population in the long term. As a result, the market is expected to grow at a faster rate over the projected period owing to an increase in the occurrence of skin diseases and demand for effective drugs.
Acne is the most common skin disorder, according to the American Academy of Dermatology, affecting 40 to 50 million people in the United States each year. Acne is most common in young people, with 85% of people between the ages of 12 and 24 suffering from some form of acne. According to the National Rosacea Society, the population of rosacea patients is on the rise, with 16 million people in the United States alone suffering from the disease.
The global dermatology pharmaceuticals market is likely to be further impacted by the regular release of new customer-centric products. For example, Sol-Gel Technologies announced FDA clearance for TWYNEO in July 2021. It is a topical cream for the treatment of acne vulgaris in adults and children ages 9 and older. .
Risks of negative effects from misuse of the product can be a limitation of the dermatology drugs market.
Emerging countries represent a significant portion of the world’s population suffering from skin infections due to poor diet, pollution and unhealthy habits such as smoking and drinking. Lack of information about skin conditions, along with a higher rate of illiteracy, has led to a decrease in the uptake of dermatological treatments in low- and middle-income countries. Another issue hampering the growth of the market is the negative product-related effects.
For example, the United States Food and Drug Administration (FDA) has issued an advisory regarding the use of certain over-the-counter drugs that may cause life-threatening allergic reactions. This is expected to reduce product adoption, leading to a decline in the market value of dermatological drugs.
During the forecast period, North America and the Asia-Pacific region are expected to hold a major share of the global market.
Due to the sheer availability of dermatology drugs, North America is estimated to account for a large portion of the dermatology drugs market during the forecast period. Additionally, the increase in the occurrence of skin conditions such as dermatitis, acne, and psoriasis is a major factor driving the boom in this market.
On the other hand, due to increased awareness in the use of dermatological drugs, Asia-Pacific is expected to experience the fastest growth throughout the projection period. The market of developing economies like India, China and Malaysia is growing due to the constant evolution of the life science industry. As technology advances, there is an increase in public knowledge about the use of dermatological drugs. Moreover, it contributes to the expansion of the market of dermatological drugs by increasing the aesthetic sensitivity of people.
Due to the implementation of lockdown by the governments of many countries, the COVID-19 pandemic has had a negative impact on the global market as pharmaceutical companies have experienced a setback in supply chain management. This resulted in fewer dermatologist appointments. Before using medication, consultation with a doctor is necessary for skin infections or other dermatology problems.
Market expansion has also slowed due to strict social distancing restrictions. According to the American Association of Dermatology, dermatologists in the United States reported a 43% drop in hospital visits during the pandemic crisis. Additionally, lower product demand has led to lower sales.
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Analysis of the five forces of carriers
4.4. Industry Value Chain Analysis
5. GLOBAL DERMATOLOGICAL DRUGS MARKET, BY INDICATION
6. GLOBAL DERMATOLOGICAL DRUGS MARKET, BY ROUTE OF ADMINISTRATION
7. GLOBAL DERMATOLOGICAL DRUGS MARKET, BY END-USER
7.2. Hospitals And Clinics
7.3. Cosmetic centers
8. GLOBAL DERMATOLOGICAL DRUGS MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. South Africa
8.6. Asia Pacific
8.6.5. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Key Players and Strategic Analysis
9.2. Emerging players and market profitability
9.3. Mergers, acquisitions, agreements and collaborations
9.4. Supplier Competitiveness Matrix
10. COMPANY PROFILES
Johnson & Johnson
Leo Pharma A/S
For more information on this report, visit https://www.researchandmarkets.com/r/k7hy8o