Pune, Sept. 28, 2020 (GLOBE NEWSWIRE) -- The global tretinoin market is anticipated to gain popularity over the coming years as tretinoin products are used to treat acute promyelocytic leukemia and acne. This information was announced by Fortune Business Insights in a report, titled “Tretinoin Market Size, Share and Global Trend By Application (Acne, Acute Promyelocytic Leukemia (APL)), By Strength (0.025%, 0.01%, 0.05%, 0.1%), By Distribution Channel (Hospitals & Clinics Pharmacies, Retail Pharmacies, Online Pharmacies), By Route of administration (Topical Applications, Oral), Geography Forecast till 2026.” Tretinoin also referred to as Retin-A helps to treat skin discoloration and aging.
According to the report, the demand for tretinoin products in hospitals, retail, and online pharmacies is likely to increase in the coming years. Furthermore, as per the report, acne treatment accounts for a major share in the global market at present and continues to remain strong in the forecast years. This is ascribable to the rising use of tretinoin for acne vulgaris as compared to acute promyelocytic leukemia.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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Demand for Tretinoin Products is the Highest in North America and Europe
Among regions, North America and Europe are anticipated to hold a major share in the global tretinoin market throughout the forecast years. The rising prevalence of acne vulgaris in the U.S. is the main factor that is likely to drive the market in this region. Also, FDA approvals for the treatment of acne are expected to create growth opportunities for the market by 2026.
Well-established healthcare infrastructure is expected to encourage growth in the market in Europe by 2026. The market in Asia Pacific is likely to register considerable growth during the forecast period. Japan is projected to offer the largest market opportunity owing to the presence of a drug manufacturer called Chugai. The manufacturing unit is controlled by F. Hoffmann-La Roche AG in Japan.
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Extensive Use of Tretinoin Products Stimulates Growth in the Market
Tretinoin, a derivative of vitamin A helps to treat mild to moderate acne on skin, which are damaged by excessive sun exposure. Other benefits offered by tretinoin include treatment for hyperpigmentation and wrinkles. As per research studies, use of tretinoin cream over a long term helps to reduce the visibility of skin aging symptoms. The report predicts such benefits to augment demand for tretinoin cream and tretinoin microsphere gel in the coming years.
“Launch of new products and existing number of products for all-trans retinoic acid leukemia are likely to drive the market,” stated a lead analyst at Fortune Business Insights. “The demand for such products in different strengths and forms is expected to increase, which is indicative of boosting the tretinoin market,” he added.
As per the American Academy of Dermatology or AAD, over 50 million Americans get affected by acne conditions every year. Furthermore, the study suggested that administration of tretinoin for skin is the most effective treatment. The tremendous benefits offered by tretinoin products are expected to propel growth in the market between 2018 and 2026.
Adverse Effects of Tretinoin Products May Hamper Growth
Certain factors that may inhibit the growth of the market include side effects of tretinoin products. These side effects such as itching, excessive dryness, redness, and scaling may restrict the market’s growth. Also, administration of tretinoin for the treatment of leukaemia can have some side effects such as retinoic acid syndrome, liver damage, hypertension and others. These side-effects may pose a serious threat to the market during the forecast duration.
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Recent FDA Approvals are Encouraging Companies to Expand their Product Offering
Some of the leading players in the global tretinoin market are Ortho Dermatologics, Sun Pharmaceutical Industries Ltd., Mylan Pharmaceuticals Inc., Janssen Pharmaceuticals, Inc., Glaxosmithkline Inc., and Bausch Health Companies Inc. Some of the companies received FDA approvals for treating acute conditions of acne, which in turn, will encourage product expansion. Some of the recent FDA approvals are:
- Ortho Dermatologics received FDA approval in August 2018 on its first ever tretinoin product called Altrena. This product is developed in the form of a lotion to effectively treat acne.
- An efficacy clinical trial on trans-retinoic acid (tretinoin) is underway in Phase 2 as of June 2018 at Yale University in the U.S. The trial was initiated for patients suffering from Primary Sclerosing Cholangitis.
List of Key Players in the Tretinoin Market:
- Mylan Pharmaceuticals Inc.
- Sun Pharmaceutical Industries Ltd.
- Glaxosmithkline Inc.
- Janssen Pharmaceuticals, Inc.
- Bausch Health Companies Inc.
- Ortho Dermatologics
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Tretinoin Market Segmentations:
By Application
• Acne
• Acute Promyelocytic Leukemia (APL)
• Others
By Strength
• 0.025%
• 0.01%
• 0.05%
• 0.1%
• Others
By Distribution Channel
• Hospitals & Clinics Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
By Route of administration
• Topical Applications
• Oral
• Others
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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