U.S. Dermatology Drugs Market, By Drug Class (Corticosteroids, Retinoids, Monoclonal Antibodies, Antibiotics Agent, Antiviral Agents, Antifungal Drugs, Antihistamines Agents, Immunosuppressive Drugs, Others), Drug Type (Branded, Generics), Prescription Mode (Prescription Based Drugs, Over-The-Counter Drugs), Indication (Infectious Skin Disease, Inflammatory/Autoimmune Disorders, Pigmentation Disorders, Skin Cancer, Others), Route of Administration (Topical, Oral, Parenteral), End User (Homecare, Hospitals, Dermatology Clinics, Others), Distribution Channel (Retail Pharmacy, Hospitals Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The market was particularly hard hit during the 2008-2009 recession, due to its reliance on disposable consumer income. However, the dermatology drugs industry quickly recovered in the following years owing to the rising expenditure for the skin care which increased the pace of expansion. In recent years, the market for dermatology drugs has seen significant growth and the growth is expected to grow at the same pace within the forecasted period.
- Data Bridge Market Research analyses that the dermatology drugs market is expected to grow at a CAGR of 8.2% during the forecast period. The “prescription based drugs” accounts for the largest prescription mode segment in the dermatology drugs market within the forecasted period.
Market Definition
Dermatology drugs are basically the drugs that are used to treat several skin conditions. The dermatological indications such as pigmentation, acne, wrinkles, psoriasis and many other can be treated by the dermatology drugs.
Dermatology Drugs Market Dynamics
Drivers
-
Surging Prevalence Of Skin Diseases
The high frequency of skin cancer and other skin disorders or other skin issues such as acne, vitiligo and dermatosis coupled with demand of effective drugs are the most significant factor driving the growth for this market. Moreover, the effective surgical treatments are available for common dermatology conditions and the inexpensive nature and easy availability of these drugs are also projected to boost the growth of the market.
Moreover, the rise in number of companies investing in the market and a significant increase in the number of drug classes available are also expected to fuel market growth. The increased awareness among patients regarding available courses of treatment for dermatological conditions and rising expenditure on skin and haircare products also cushions the market’s growth within the forecasted period.
Opportunities
Furthermore, the plausible pace of research and development practices from major industry players extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the expansion of the number of indications treated by topical drugs and growing awareness regarding the dermatological procedures will further expand the dermatology drugs market's growth rate in the future.
Restraints/Challenges
On the other hand, the patient non-adherence to treatment along with the high costs associated with drugs is expected to obstruct market growth. Also, the dearth of knowledge procedure and are projected to challenge the dermatology drugs market in the forecast period of 2022-2029.
This dermatology drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the dermatology drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Dermatology Drugs Market
The healthcare industry across the globe has been heavily impacted by the COVID-19. The sudden coronavirus outbreak has impeded the growth of the dermatology drugs market. The government’s stringent guidelines restricted various activities which further created hurdles for the supply and production of the drugs, thus disrupting the supply chain for the drugs. Vaccinations for dermatology, chemotherapy sessions, and other non-essential services have been postponed in the majority of hospitals. Moreover, the fall in the dermatological procedures further decreased the adoption of these drugs which worked as a root cause in hampering the growth of the market. However, the dermatology drugs market is projected to regain the traction post COVID, as there is growing awareness amongst consumers regarding the skin disorders.
Recent Developments
- In July 2021, with the goal of expanding its product portfolio, Sol-Gel Technologies, Ltd. announced the approval of TWYNEO cream by the US Food and Drug Administration for the treatment of acne vulgaris in adults and paediatric patients aged 9 years and up.
- In June 2021, Galderma announced two S-year agreements with Sol-Gel Technologies itd, with the goal of commercialising EPSOLAY and TWYNEO in the United States while maintaining its brand position as a leader in this region.
U.S. Dermatology Drugs Market Scope
The dermatology drugs market is segmented on the basis of drug class, drug type, prescription mode, indication, route of administration, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Drug Class
- Corticosteroids’
- Retinoids, Monoclonal Antibodies
- Antibiotics Agent
- Antiviral Agents
- Antifungal Drugs
- Antihistamines Agents
- Immunosuppressive Drugs
- Others
On the basis of drug class, the dermatology drugs market is segmented into corticosteroids, retinoids, monoclonal antibodies, antibiotics agent, antiviral agents, antifungal drugs, antihistamines agents, immunosuppressive drugs and others.
Drug Type
- Branded
- Generics
On the basis of level of drug type, the dermatology drugs market is segmented into branded and generics.
Prescription Mode
- Prescription Based Drugs
- Over-The-Counter Drugs
On the basis of level of prescription mode, the dermatology drugs market is segmented into prescription based drugs and over-the-counter drugs. Prescription based drugs are expected to grow significantly within the forecasted period.
Indication
- Infectious Skin Disease
- Inflammatory/Autoimmune Disorders
- Pigmentation Disorders
- Skin Cancer
- Others
On the basis of level of indication, the dermatology drugs market is segmented into infectious skin disease, inflammatory/autoimmune disorders, pigmentation disorders, skin cancer and others.
Route of Administration
- Topical
- Oral
- Parenteral
On the basis of level of route of administration, the dermatology drugs market is segmented into topical, oral and parenteral.
End User
- Homecare
- Hospitals
- Dermatology Clinics
- Others
On the basis of level of end user, the dermatology drugs market is segmented into homecare, hospitals, dermatology clinics and others.
Distribution Channel
- Retail Pharmacy
- Hospitals Pharmacy
- Online Pharmacy
- Others
On the basis of level of distribution channel, the dermatology drugs market is segmented into retail pharmacy, hospitals pharmacy, online pharmacy and others.
Patient Epidemiology Analysis
The dermatology drugs market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analyzed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and Dermatology Drugs Market Share Analysis
The dermatology drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to dermatology drugs market.
Some of the major players operating in the dermatology drugs market are Novartis AG, Pfizer Inc., Eli Lilly and Company., Johnson & Johnson Services, Inc., Almirall, S.A, Mylan N.V., Sun Pharmaceutical Industries Ltd., UCB S.A., Glenmark Pharmaceuticals Limited, Tolmar Pharmaceuticals, Inc., GlaxoSmithKline plc., Galderma Laboratories, L.P., Teva Pharmaceutical Industries Ltd., LEO Pharma A/S, MELINTA THERAPEUTICS, INC., Mayne Pharma Group Limited, BIOFRONTERA AG, and AbbVie Inc., among others.
SKU-