The latest report by IMARC Group, titled “Dermatological Drugs Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global dermatological drugs market size reached US$ 21.58 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.11 Billion by 2028, exhibiting a growth rate (CAGR) of 10.25% during 2023-2028.
Dermatological drugs, also known as dermatological pharmaceuticals or topical medications, are a category of pharmaceutical products specifically designed for the treatment and management of various skin conditions and disorders. These drugs are formulated to be applied directly to the skin’s surface and are available in various forms, including creams, ointments, gels, lotions, and solutions. Dermatological drugs serve a vital role in addressing a wide spectrum of dermatological issues, ranging from common concerns such as acne, eczema, and psoriasis to more complex conditions like skin infections, fungal diseases, and skin cancer. They encompass a diverse range of active ingredients, each tailored to target specific skin ailments. For instance, corticosteroids may be prescribed to reduce inflammation and itching, while antibiotics are used to combat bacterial infections.
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Dermatological Drugs Market Trends and Drivers:
An increase in the incidence of various skin conditions, including acne, eczema, and skin cancer, is a significant driver. Lifestyle changes, environmental factors, and an aging population have contributed to the higher prevalence of these disorders, necessitating the use of dermatological drugs. Additionally, aesthetic dermatology has gained prominence, with individuals seeking dermatological treatments for cosmetic purposes. Increasing awareness of available treatments and a desire for youthful and healthy skin are propelling market growth in this segment. Other than this, the aging global population is more susceptible to various skin conditions, such as wrinkles, skin sagging, and skin cancer. As a result, there is a growing demand for dermatological drugs catering to the needs of older adults. Besides this, expanding healthcare infrastructure, particularly in emerging economies, has made dermatological treatments more accessible to a larger population, thereby driving market demand. In line with this, ongoing research and development efforts have led to the discovery of innovative drug formulations and therapies. This includes biologics, targeted therapies, and novel drug delivery systems, all of which expand treatment options and drive market growth.
Report Segmentation:
The report has segmented the market into the following categories:
Dermatological Diseases Insights:
- Acne
- Dermatitis
- Psoriasis
- Skin Cancer
- Others
Route of Administration Insights:
- Oral
- Parenteral
- Topical
Distribution Channel Insights:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AbbVie Inc.
- Amgen Inc.
- Bausch Health Companies Inc.
- Bristol-Myers Squibb Company
- Eli Lilly and Company
- GSK plc
- LEO Pharma A/S (LEO Holding A/S)
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
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