Portland, OR, April 28, 2021 (GLOBE NEWSWIRE) -- The global Dermatologicals Market was estimated at $15.56 billion in 2018 and is expected to hit at $36.20 billion by 2026, registering a CAGR of 10.9% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Dermatological are the drugs that are used to treat or prevent conditions related to the skin. Moreover, dermatological preparations are applied directly to the skin by topical application or are administered through the parenteral route. Furthermore, dermatlogicals drugs are also taken through oral route to cure skin conditions.
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Covid-19 Scenario-
- The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries, especially the production and manufacturing of dermatological products and medicines.
- The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
- On the other hand, as the majority of the clinics were instructed to be closed, the patients with dermatological problems consulted doctors virtually to avoid physical contact as much as possible.
The dermatological market is segmented into dermatological disease, drug type, route of administration, and region.
Based on dermatological disease, it is segmented into acne, dermatitis, psoriasis, skin cancer, rosacea, and alopecia. dermatological disease, the psoriasis segment occupied the largest dermatological market share in 2018. Furthermore, it is also expected to be the fastest growing segment during the forecast period. The growth of this segment is attributed to surge in the incidence of psoriasis worldwide.
Based on drug type, the prescription segment occupied the largest share, owing to surge in skin disorders. Furthermore, skin disorders are severe and require skilled medical attention, which is provided by skin specialists. Moreover, over-the-counter drugs is expected to be the fastest growing segment during the forecast period due to surge in the awareness among general public regarding the availability of dermatologicals.
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Based on route of administration, it is segmented into topical, oral, and parenteral administration.
Based on region, North America accounted for the major dermatologicals market share in 2018 and is expected to continue this trend, owing to easy availability of dermatologicals. Moreover, surge in the incidence of skin disorders such as dermatitis, acne, and psoriasis, is another major reason that contributes to the growth of this dermatologicals market. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period attributed to the increase in awareness regarding the use of dermatologicals. The constantly evolving life science industry drives the growth of the market in developing economies such as India, China, and Malaysia. As the constant development leads to surge in awareness related to the use of dermatologicals. Furthermore, it also leads to rise in aesthetic consciousness among people which contributes to the growth of the dermatologicals market.
Leading market players analyzed in the market include Bayer AG, Johnson & Johnson, Pfizer Inc., Novartis AG, GlaxoSmithKline plc, AstraZeneca, Galderma S.A., Amgen Inc., AbbVie Inc., and Merck KGaA.
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