What is Prescription Dermatology Therapeutics Market Scope?
Skin diseases are among the leading causes of the non-fatal burden of disease worldwide. Aging, trauma, and environmental and genetic factors can all lead to skin conditions. According to the World Health Organization (WHO), skin diseases, which are among the most common diseases affecting human health, affect nearly 900 million people worldwide at one point in time. Some of the most commonly reported skin conditions worldwide are pyoderma, scabies, acne, eczema, and warts. Acne is one of the most common skin conditions present in the United States that is affecting around 50 million Americans annually. According to the National Eczema Association, 31.6 million people in the US had some form of eczema in 2019. Therefore, it is expected that associated drugs will be in high demand in the coming years due to the increasing number of dermatological cases. As disposable income has increased, healthcare spending has increased over time. According to the Organization for Economic Co-operation and Development (OECD), the US recorded a 2.3% increase in disposable income in 2017 compared to the previous year. In addition, the OECD reported that around 3% of total health expenditure in Germany was spent on skin diseases in 2016. As people become aware of various skin diseases, they spend a significant portion of their income on dermatology and related services, which has fueled the growth of the dermatology drug market.
The Prescription Dermatology Therapeutics market study is being classified by Type (Topical Corticosteroids, Retinoids, Biologics, Calcineurin Inhibitors, Antihistamines and Hormone Therapy), by Application (Psoriasis, Atopic Dermatitis, Acne, Rosacea, Skin Cancer and Scar) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Players from European and United States will contribute to the maximum growth of Global Prescription Dermatology Therapeutics market throughout the predicted period.
Allergan Inc. (Ireland), Pfizer Inc. (United States), Aclaris Therapeutics Inc. (United States), Eli Lilly and Company (United States), Celgene Corporation (United States), Janssen Biotech Inc. (United States), Sonoma Pharmaceuticals (United States), Amgen Inc. (United States), LEO Pharma A/S (Denmark), NovaBay Pharmaceuticals, Inc. (United States), Bausch Health Companies Inc. (Canada), Novartis (Switzerland) and Sun Pharmaceuticals Ltd. (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Aurobindo Pharma Ltd. (India) and Lupin Limited (India).
Analyst at AMA have segmented the market study of Global Prescription Dermatology Therapeutics market by Type, Application and Region.
On the basis of geography, the market of Prescription Dermatology Therapeutics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In May 2020, Sanofi S.A. had thereby received USFDA approval of Dupixent (dupilumab) for the treatment of moderate to severe atopic dermatitis. and In April 2020, Bausch Health Companies Inc. and its dermatology company Ortho Dermatologics had received USFDA approval for the topical solution JUBLIA (efinaconazole) for the treatment of onychomycosis.
Influencing Market Trend
- Increasing the Demand for This Drug for the Treatment of Mild-To-Moderate Atopic Dermatitis in Children and Adults
- Increasing Preference for Consultation with Dermatologists for Chronic Skin Conditions
- The Availability of a Broad Range of Prescription Drugs
- The Increasing Aging Population
- Rising Incidence of Skin Diseases
- Growing Awareness about Skin Diseases
- The Growing Pollution and Ozone Layer Depletion Rate
- The Rising Number of Skin Cancer Cases
- Escalating Disposable Income in Developing Countries
- Surging Number of Research Programs
- High Cost of Biologic Drugs
- Side Effects Associated With the Drugs and Treatment
- Lack of Access to Skin Care Treatments in the Under Developed Countries
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Providers of Prescription Dermatology Therapeutics, Venture Capitalists and Private Equity Firms and End-Use Industry
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