Global Dermatologicals Market is Likely to Grow at a CAGR Value of 11.10% By 2028

17-Aug-2022 | Zion Market Research

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

The medical specialty known as dermatology is focused on treating skin conditions such as psoriasis, atopic dermatitis, skin cancer, and acne. A dermatologist is a doctor who 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.

Global Dermatologicals Market

The global dermatologicals market is expanding as a result of more dermatological products receiving approval. For instance, the pharmaceutical company AbbVie Inc. announced in December 2021 that Rinvoq (upadacitinib) had received FDA approval to treat patients with active psoriatic arthritis. This medication is advised for patients who have an intolerance to or poor response to tumor necrosis factor blockers. The stringent government regulations are restrained in dermatologicals market. Though the market size is increasing at an impressive rate, various regulations still prohibit certain chemicals as ingredients in skin care products.

The global dermatologicals market is segregated based on disease, type, route of administration, and region. Based on disease, the market is divided into acne, dermatitis, psoriasis, skin cancer, rosacea, alopecia, and others. Among these, the acne segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on type, the market is classified into prescription-based drugs and over-the-counter drugs. In 2021, the prescription-based category dominated the global market. Based on the route of administration, the market is classified into topical administration, oral administration, and parenteral administration. In 2021, the topical administration category dominated the global market.

The global dermatologicals market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. 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. However, Asia-Pacific is anticipated to experience the highest CAGR in the global dermatologicals market due to rising skin disease prevalence, increased knowledge of the usage of dermatological medications, rising healthcare spending, and rising aesthetic product use.

Key players in the global dermatologicals market include AbbVie Inc. (Allergan PLC), Amgen Inc., Galderma, GlaxoSmithKline Plc., Johnson & Johnson Services Inc, Leo Pharma A/S, Novartis AG, Organon & Co (Merck), Pfizer Inc., Sun Pharmaceutical Industries Limited.

Recent Development:

  • 2022: Avicanna Inc., the first cannabinoid startup, will join Johnson & Johnson incubator JLABS, which is preparing for pharmaceutical distribution, according to a 2022 announcement from Johnson & Johnson Inc. JLABS offers a relaxed atmosphere that is ideal for a starting business looking to do research and introduce new technology to improve medical care.
  • February 2021: In February 2021, Bristol Myers Squibb Company announced results from POETYK PSO-2, the second Phase III clinical trial evaluating deucravacitinib, a selective tyrosine kinase 2 inhibitor for the treatment of patients with moderate to severe plaque psoriasis.

Browse the full 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. Report at https://www.zionmarketresearch.com/report/dermatologicals-market

Global Dermatologicals 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

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