New York, NY, May 03, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Dermatology Drugs Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area; By Drug Class; By Route of Administration (Topical, Oral, Parenteral); By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global dermatology drugs market size/share will be valued at roughly USD 17.28 Billion in 2022, and its revenue is projected to reach about USD 50.47 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 11.3% between 2023 and 2032.”
What are Dermatology Drugs? How Big is Dermatology Drugs Market Globally?
- Report Overview
The usage of antibiotics to cure inflammatory skin conditions such as acne and rosacea is reducing over time, but there has been an escalation in prescriptions linked with dermatologic surgical processes. The rapidly rising demand for the dermatology drugs market can be credited to the fact that several patients, such as those consuming antibiotics for acne, can survive on drugs for increased periods of time in contrast to antibiotic usage that involves a seven or ten-day course.
The critical elements pushing the markets are fungi, parasites, and other microorganism staying on the skin, bacteria aught in the skin pore, and hair follicles suppressed in several fluids prohibiting dehydration and escalating pollution parameters. Also, growing consciousness of skin ailments and escalating demand for speedy diagnosis are contributing to the market growth.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Lupin
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Pfizer Inc.
- Sanofi
- Amgen Inc.
- Lilly
- AstraZeneca
- AbbVie Inc.
- Johnson & Johnson Private Limited
- LEO Pharma A/S
- Merck & Co. Inc.
- Bausch Health Companies Inc.
- Bristol-Myers Squibb Company
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Prominent Market Drivers
- Growing geriatric population: The chosen market is anticipated to increase speedily during the forecast period due to the growing geriatric population. The dermatology drugs market size is expanding due to the growing consciousness of skin issues, escalating people's disbursement power, and massive reserves of dermatology drugs.
- Environmental and hereditary elements: Tension, consumption routines, environmental and hereditary elements, and aging are the most crucial factors pitching into the advancement of skin ailments in people globally. As per the data produced by WHO, skin ailments are the most frequent forms of health illnesses impacting approximately 900 million people globally at one time.
- Advancement of cheap medicines: In spite of endeavors to handle the dermatological skin state of affairs, there is an escalated demand for the advancement of cheap and restorative impactful medicines. The increasing pervasiveness of acne contamination, atopic dermatitis, and other illnesses in the populace has caused pharmaceutical firms to make drugs for skin ailments.
- Participation of government and private firms: Dermatology drugs markets sales are soaring due to the advantage incorporated by governments and private firms to advance the pharmaceutical industries are pushing the market's growth. Additionally, the growth figures of consent for dermatology products are pushing the market growth.
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Top Report Findings
- Growing consciousness of skin issues, escalating people’s disbursement power, and massive reserves of dermatology drugs are driving the market growth.
- The market is essentially divided into a therapeutic area, drug class, route of administration, distribution channel, and region.
- The leading region of the market in North America
Top Trends Influencing the Market
- Curing of drug conditions: The market is proliferating because of drug agreements for curing several drug conditions such as psoriasis, acne, rosacea, and dermatitis. An escalation in product instigation and meticulous clinical studies is pushing the growth. Amidst these surroundings, acne is particularly examined the teenagers as it influences their physical appearance.
- Growth of anti-ineffective commodities: The American Association of Dermatology describes that more than 85% of young people encounter approximately one kind of acne. Therefore, there is a growing demand for anti-ineffective commodities in the market. Further, improvised marketing blueprints and substantial dispensation networks are anticipated to donate to the inflation of the market in the course of the forecast period.
- Technological progressions: The accelerating technological progressions in the pharmaceutical industry sanctioning the production of progressive dermatological commodities with gainful opportunities. Further, the market growth is propelled by critical manufacturing companies that make and administer dermatological commodities, as well as an escalation in healthcare disbursement.
Segmental Analysis
- The psoriasis segment accounted for the largest market share
Based on the therapeutic area, the psoriasis segment accounted for the largest market share. Dermatology drugs market demand is on the rise due to the growing number of manufacturers putting in place functional drugs for their cure. The pervasiveness of psoriasis is also escalating globally, presenting the development of this segment.
- Corticosteroids hold the highest CAGR in the market
Based on drug class, corticosteroids hold the highest CAGR in the market. Dermatology drug market trends include their wise usage in curing incendiary skin conditions, including eczema, psoriasis, and allergic contact dermatitis. These drugs are then segregated into first and second generations. Second-generation drugs are favored due to their being more productive and having lesser side effects.
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Dermatology Drugs Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 50.47 Billion |
| Market size value in 2023 | USD 19.18 Billion |
| Expected CAGR Growth | 11.3% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, Amgen Inc., Lilly, AstraZeneca, AbbVie Inc., Johnson & Johnson Private Limited, LEO Pharma A/S, Merck & Co. Inc., Bausch Health Companies Inc., and Bristol-Myers Squibb Company. |
| Segments Covered | By Therapeutic Area, By Drug Class, By Route of Administration, By Distribution Channel, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America: The region held the largest dermatology drugs market share due to elements such as growing consciousness of skin ailments and their cure, the existence of several entrenched players in the region, and the elevated gross revenue of the populace. Additionally, the rapid instigation of contemporary products is anticipated to propel market growth in North America.
Browse the Detail Report “Dermatology Drugs Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area; By Drug Class; By Route of Administration (Topical, Oral, Parenteral); By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/dermatology-drugs-market
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Recent Developments
- In September 2022, BMS got US FDA approval for Sotyktu (deucravacitinib), an allosteric tyrosine kinase 2 inhibitor, for treating moderate-to-severe plaque psoriasis in adults.
- In October 2021, Sun Pharma launched PrILUMYA (tildrakizumab injection) in the Canadian region. The drug is intended for patients with moderate-to-severe plaque psoriasis.
Frequently Asked Questions
- Who are the key companies in the market?
- What is the CAGR estimated to be calculated for the market?
- What are the key segments covered?
- What are the key driving factors in the market?
- What will be the market value estimated by the end of the forecast period?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What is the market size and growth rate of global and regional markets by various segments?
Polaris Market Research has segmented the dermatology drugs market report based on therapeutic area, drug class, route of administration, distribution channel, and region:
By Therapeutic Area Outlook
- Acne
- Atopic Dermatitis
- Psoriasis
- Rosacea
- Others
By Drug Class Outlook
- Anti-infectives
- Corticosteroids
- Anti-acne
- Calcineurin Inhibitors
- Retinoids
- Others
By Route of Administration Outlook
- Topical
- Oral
- Parenteral
By Distribution Channel Outlook
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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