Pune, India, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The Global “Dermatology Drugs Market Size” is expected to USD 63.99 billion by 2027, exhibiting a CAGR of 12.9% during the forecast period. The increasing prevalence of numerous skin diseases and disorders among the population is expected to spur opportunities for the market, states Fortune Business Insights, in a report, titled “Dermatology Drugs Market Size, Share & COVID-19 Impact Analysis, By Application (Acne, Psoriasis, Atopic Dermatitis, and Others), By Route of Administration (Oral, Parenteral, and Topical) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size stood at USD 36.82 billion in 2019.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 12.9% |
| 2027 Value Projection | USD 63.99 billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 36.82 billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 135 |
Market Growth Drivers
Surging Patient Population to Back Growth
The growing number of patients suffering from acne, vitiligo, and dermatitis are expected to spur opportunities for market growth. According to the American Association of Dermatology in 2018, around 50 million people in the U.S had acne. The growing demand for effective products to cure skin infections and disorders coupled with high awareness among the young population will contribute positively to the growth of the market. According to Australian research, more than 4% of the population are affected by acne vulgaris in long term. The growing inclination towards skin health and care among millennials can have an excellent impact on the market growth in the forthcoming years. The increasing R&D investments by major companies owing to heavy demand for therapeutically effectual and cost-effective drugs will encourage the healthy growth of the market in the foreseeable future.
Regional Analysis
Presence of Prominent Companies to Boost Market in North America
The market size in North America stood at USD 18.08 billion in 2019 and is expected to grow rapidly during the forecast period. The growth in the region is attributed to the increasing prevalence of dermatology infections. The presence of major players coupled with the introduction of novel products will further aid expansion in the region. Europe is expected to grow excellently during the forecast period owing to the heavy R&D investments for the development of effective drugs. The increasing sales of dermatology products are expected to enable speedy expansion of the market in the forthcoming years. Asia Pacific is expected to account for a high share during the forecast period owing to the growing awareness about the care & management of acne among the population. Latin America and Middle East & Africa are expected to experience a slow growth rate owing to the lower adoption of topical solutions coupled with a lack of awareness about medicines and therapies related to acne, dermatitis, and other skin conditions.
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Market Segmentations
| Segmentation | By Application
|
By Route of Administration
| |
By Distribution Channel
| |
By Region
|
Diminished Demand for Dermatology Drugs to Impede Market amid COVID-19
The COVID-19 pandemic has critically impacted the global market because of the weakened demand for dermatology drugs. Pharmaceutical companies producing skin-related drugs experienced massive losses owing to the lockdown imposed by governments. Thus, leading to disrupted supply and demand. Social distance regulations coupled with lower demand for mandatory prescribed dermatology medications will further restrict the growth of the market. According to the American Association of Dermatology, the dermatologists in the U.S reported an approximately 43% decline in patient consultations during the pandemic crisis. In addition, declining production and demand will simultaneously affect market sales during the coronavirus pandemic.
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The Report Lists the Key Companies in the Global Dermatology Drugs Market
- Allergan (Dublin, Ireland)
- Botanix Pharmaceuticals (NorthBridge, Australia)
- Pfizer Inc. (New York, U.S)
- Galderma S.A (Lausanne, Switzerland)
- Bausch Health Companies Inc. (Bridgewater, U.S)
- Novartis (Switzerland, Europe)
- GlaxoSmithKline Plc. (London, U.K)
- Valeant Pharmaceuticals International Inc. (New Jersey, U.S)
- Johnson & Johnson (New Jersey, U.S)
- Other Players
Table of Contents
- Global Dermatology Drugs Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Topical
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Dermatology Drugs Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- By Application
- Canada
- By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- By Application
- U.S.
- Europe Dermatology Drugs Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country/Sub-region
- U.K.
- By Application
- Acne
- Psoriasis
- Atopic Dermatitis
- Others
- By Application
- U.K.
ToC Continued…
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