NEW YORK, Aug. 17, 2022 /PRNewswire/ -- As per Zion Market Research study, The global dermatologicals market was worth USD 19,482.4 million in 2021 and is estimated to grow to USD 36,637.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 11.10 percent over the forecast period.
Dermatologicals Market: Overview
The medical specialty known as dermatology is focused on treating skin conditions such as psoriasis, atopic dermatitis, skin cancer, and acne. A dermatologist specializes in diseases of the skin, hair, and nails. According to the American Academy of Dermatology Association, an estimated 3,000 skin-related diseases can be recognized and treated by a dermatologist. The skin is a physical barrier that shields the body's interior organs from infection and damage. Practically everyone can experience the symptoms of one or more dermatological disorders at some point.
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Key Industry Insights & Findings of the Dermatologicals Market Reports:
As per the analysis shared by our research analyst, the Dermatologicals Market is expected to grow annually at a CAGR of around 11.10 % (2022-2028).
Through the primary research, it was established that the Dermatologicals Market was valued at approximately USD 19482.4 million in 2021 and is projected to reach roughly USD 36637.6 million by 2028.
During the forecast period, technological advancement in the pharmaceutical sector to produce innovative dermatological products is anticipated to offer lucrative prospects for expanding the global dermatologicals market.
"all-natural supplements" have not been proven beneficial, and some may even be dangerous, according to the American Academy of Dermatology (AAD).
Rise in the quantity of clinical research greatly impacts market expansion. Clinical research aims to assess the effectiveness and safety of dermatological products.
The biopharmaceutical company Amgen announced in December 2021 that the Food and Drug Administration (FDA) had approved Otezla (apremilast), which is advised to treat people with plaque psoriasis.
The rise in the prevalence of acne, the rise in the number of dermatological products receiving approval, the presence of key players, and the development of R&D activities in the healthcare sector in the region, North America captured a significant portion of the market for dermatologicals and is anticipated to maintain its dominance during the forecast period.
The most populous nations globally, such as China and India, are anticipated to have many skin disease sufferers during the projection period.
The highest growth in this market is attributed to factors such as health services, life science industry advancements, and increased awareness of skin conditions and their treatments.
Zion Market Research published the latest report titled "Dermatologicals Market By Disease (Acne, Dermatitis, Psoriasis, Skin Cancer, Rosacea, Alopecia, Others), By Type (Prescription-Based Drugs, Over-The-Counter Drugs), By Route of Administration (Topical Administration, Oral Administration, Parenteral Administration) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.
Dermatologicals Market: Growth Drivers
An increase in technological advancements to drive market growth.
During the forecast period, technological advancement in the pharmaceutical sector to produce innovative dermatological products is anticipated to offer lucrative prospects for expanding the global dermatologicals market. The existence of important manufacturing firms that produce & distribute dermatological products and rising healthcare spending also contribute to the market's expansion.
Dermatologicals Market: Restraints
The alternative treatments available for acne to hamper market expansion.
People who have acne frequently use complementary or alternative medicine. Gels, creams, lotions, herbal supplements, dietary regimens unique to you, and dietary supplements are a few examples. Alternative methods for treating acne are highly regarded. However, "all-natural supplements" have not been proven beneficial, and some may even be dangerous, according to the American Academy of Dermatology (AAD). The group mentions an over-the-counter (OTC) acne supplement as an illustration, which included more than 200 times the recommended dosage of selenium. It resulted in a variety of harmful effects.
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Global Dermatologicals Market: Opportunities
Significant pharmaceutical expansion to generate investment opportunities.
The growth of the pharmaceutical industry is an opportunity for the global dermatologicals market. Additionally, a rise in the quantity of clinical research greatly impacts market expansion. Clinical research aims to assess the effectiveness and safety of dermatological products. The increase in dermatological product approvals is one of the major factors propelling the global market. For instance, the biopharmaceutical company Amgen announced in December 2021 that the Food and Drug Administration (FDA) had approved Otezla (apremilast), which is advised to treat people with plaque psoriasis.
Global Dermatologicals Market: Segmentation
The global dermatologicals market has been segmented into disease and distribution channels.
Based on disease, the market is classified into acne, dermatitis, psoriasis, skin cancer, rosacea, alopecia, and others. In 2021, the acne category dominated the global market. Due to improvements in healthcare R&D activities and increased acne incidence, the acne capsules category dominated the dermatologicals market. This trend is anticipated to continue over the forecast period. However, due to an increase in demand for dermatitis, the dermatitis segment is anticipated to experience significant growth throughout the projection period.
Based on the type channel, the global dermatological market is segmented into prescription and over-the-counter drugs. Due to the rising prevalence of skin illnesses and activities taken by public and private organizations to address skin disease, the prescription-based pharmaceuticals segment was the largest contributor and is anticipated to continue its lead throughout the forecast period. However, the over-the-counter pharmaceuticals segment is anticipated to experience significant growth during the projected period due to rising over-the-counter drug demand and increasing the number of over-the-counter drug approvals.
Based on the route of administration, the market is classified into topical administration, oral administration, and parenteral administration. The dermatologicals market was dominated by the topical administration segment. This trend is anticipated to persist throughout the forecast period due to rising topical administration demand, an increase in the number of drugs receiving U.S. FDA approval, and improvements in R&D activities in the pharmaceutical industry. However, due to technological advancements in the healthcare industry and an increase in biologic pharmaceuticals, the parenteral administration segment is anticipated to have significant growth over the forecast period.
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List of Key Players in Dermatologicals Market:
Sun Pharmaceutical Industries Limited
AbbVie Inc. (Allergan PLC)
Johnson & Johnson Services Inc
Leo Pharma A/S
Organon & Co (Merck)
Key questions answered in this report:
What are the growth rate forecast and market size for Dermatologicals Market?
What are the key driving factors propelling the Dermatologicals Market forward?
What are the most important companies in the Dermatologicals Market Industry?
What segments does the Dermatologicals Market cover?
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Market size value in 2021
USD 19482.4 Million
Revenue forecast in 2028
USD 36637.6 Million
CAGR of almost 11.10 % 2022-2028
2016 – 2021
2022 – 2028
By Product Type, By Application, And By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Sun Pharmaceutical Industries Limited, AbbVie Inc. (Allergan PLC), GlaxoSmithKline Plc., Amgen Inc., Galderma, Johnson & Johnson Services Inc, Leo Pharma A/S, Organon & Co (Merck), Novartis AG, Pfizer Inc.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
January 2020: Eli Lilly & Company struck a legally binding agreement to add late-stage and commercial pharmaceuticals to its portfolio by paying USD 1.1 billion in cash for the dermatological drug developer Dermira.
December 2019: Psoriatic arthritis (PsA), chronic severe plaque psoriasis (PsO), and other indications were treated with AVSOLA (infliximab-axxq), which Amgen Inc. got FDA approval for it.
December 2019: In a similar vein, Bausch Health Companies Inc. got FDA approval for ARAZLOTM (tazarotene) Lotion, 0.045 percent, for the topical treatment of acne vulgaris. Therefore, it is anticipated that these reasons will greatly increase the market for dermatological therapies in the North American continent.
North America is the fastest growing region in the dermatological market in 2021.
Due to the rise in the prevalence of acne, the rise in the number of dermatological products receiving approval, the presence of key players, and the development of R&D activities in the healthcare sector in the region, North America captured a significant portion of the market for dermatologicals and is anticipated to maintain its dominance during the forecast period.
Asia Pacific is anticipated to see the highest CAGR in the global dermatologicals market. The most populous nations globally, such as China and India, are anticipated to have many skin disease sufferers during the projection period. The highest growth in this market is attributed to factors such as health services, life science industry advancements, and increased awareness of skin conditions and their treatments. Additionally, this industry is expanding at a fast rate due to rising incomes and consumer power.
Global Dermatologicals Market is segmented as follows:
Dermatologicals Market: By Disease Outlook (2022-2028)
Dermatologicals Market: By Type Outlook (2022-2028)
Dermatologicals Market: By Route of Administration Outlook (2022-2028)
Dermatologicals Market: By Region Outlook (2022-2028)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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