Dermatologicals Market Size Report, Industry Share, Analysis, Growth, 2030

Dermatological Market Size And Industry Analysis

The global dermatological market size was worth USD 19,482.4 Million in 2021 and is estimated to grow to USD 36,637.6 Million by 2028, with a compound annual growth rate (CAGR) of approximately 11.10% over the forecast period.

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The report analyses the dermatological market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the dermatological market.

Radiodermatitis 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.

COVID-19 Impact:

Due to the high rate of COVID-19 transmission worldwide, many nations have experienced and continue to experience a significant strain on both their economies and healthcare systems. During the COVID-19 pandemic, manufacturing facilities for all healthcare-related businesses were impacted, and transportation was severely impacted in both developed and developing economies. The dermatological market may see certain direct and indirect effects throughout the projection period. According to a research study by Munise Daye et al., dermatological disease treatment was quite challenging during the pandemic and was published in Dermatologic Therapy Journal in October 2020. The advised courses of action and patient follow-ups were revised. About half of individuals with chronic skin conditions reduced or stopped receiving therapy during the pandemic.

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Key Insights

• As per the analysis shared by our research analyst, the global dermatological market value will grow at a CAGR of 11.10% over the forecast period.
• In terms of revenue, the global dermatological market size was valued at around USD 19,482.4 million in 2021 and is estimated to grow to USD 36,637.6 billion by 2028
• One of the major factors driving this market is the growing number of approvals for dermatological products.
• By disease, the acne category dominated the market in 2021.
• By type channel, the prescription-based category dominated the market in 2021.
• North America dominated the global dermatological market in 2021.

Dermatological 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 dermatological market. The existence of important manufacturing firms that produce & distribute dermatological products and rising healthcare spending also contribute to the market's expansion.

Dermatological Market: Restraints

The alternative treatments available for acne 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.

Dermatological Market: Opportunity

Significant pharmaceutical expansion to generate investment opportunities

The growth of the pharmaceutical industry is an opportunity for the global dermatological 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.

Dermatological Market: Segmentation

The global dermatological 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 dermatological 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 dermatological 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.

Recent Developments

• 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.

Dermatological Market:  Report Scope

Dermatological Market: Regional Landscape

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 dermatological and is anticipated to maintain its dominance during the forecast period.

Asia Pacific is anticipated to see the highest CAGR in the global dermatological 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.

Dermatological Market: Competitive Landscape

Key players in the global dermatological market include 

• 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.

Global Dermatological Market is segmented as follows:

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

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa