Dermatological Therapeutics Market: An Extremely Dynamic and Competitive Market

Mon, 03 August 2020 11:47

Dermatology is the branch of science that deals with skin and its appendages, such as nails, hairs, and sweat glands, among others. Today, the urban population’s primary major remains skincare and skin hygiene. Rising pollution levels have seen an increase in the instances of skin allergies and the prevalence of chronic diseases, such as skin cancer, acne vulgaris, psoriasis, and atopic dermatitis. As per a study by Clinical Dermatology, around 25% of the population across the world suffers from skin disorders, of which 15% consult general practitioners, and 1.2% consult dermatologists. The study also reveals skin problems are the fourth leading cause of the burden of nonfatal diseases. The dermatological therapeutics market is expected to be an exceptionally dynamic and competitive market in the near future.

Impact of COVID-19

The ongoing coronavirus pandemic has led to a paradigm shift in living and shopping habits across the world, and the dermatological market has borne a significant share of this shake-up. The global outbreak has led to severe economic consequences within the healthcare and dermatological markets. The pandemic has changed consumer behavior in terms of the use of dermatological products, and consumers now have limited access to advanced dermatological therapies. Moreover, disruptions in the supply chains of key pharmaceutical market players have led to a decrease in their revenue in the dermatological segment.

Got questions about your regional growth of

Dermatological Therapeutics Market?

Just drop us a line or call on +1 646 480 7505

Key Takeaways

  • The global dermatological therapeutics market was valued at USD 34,309 million in 2019 and is expected to register a CAGR of 9.6% during the forecast period (2020–2029), driven by the rising prevalence of skin-related disorders, new product launches, and the development of novel therapies.
  • In terms of drug class, anti-infective agents have acquired a prominent market share owing to the rising prevalence of infectious skin diseases and a high prescription rate along with other dermatological drugs.
  • In terms of application, the psoriasis segment holds a significant value share in the dermatological therapeutics market, which can be attributed to the rising prevalence of psoriasis across the globe, continuous development in therapeutics for the treatment of psoriasis, and favorable government initiatives for the treatment of psoriasis.
  • By region, North America is expected to lead the global dermatological therapeutics market owing to the growing expenditure on healthcare and cosmetics, rising awareness about skin diseases, and the strong presence of pharmaceutical companies engaged in dermatological product development.
  • Some of the key players in this market are Allergen plc, Novartis, Sanofi, Dermira, Pfizer inc., GlaxoSmithKline Plc., Foamix Pharmaceutical, Sun Pharmaceutical, Mayne Pharma, Glenmark Pharmaceutical, and Valeant Pharmaceuticals.

Dermatological Therapeutics Market: Segmentation

By Drug Class

  • Anti-infectives
  • Corticosteroids
  • Anti-acne
  • Calcineurin inhibitors
  • Retinoids
  • Others

By Application

  • Alopecia
  • Herpes
  • Psoriasis
  • Rosacea
  • Atopic dermatitis
  • Acne vulgaris
  • Other applications

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

View Full Report Buy This Report Now