Dermatological Drugs Market Growth & Trends
The global dermatological drugs market size is expected to reach USD 34.9 billion by 2028, expanding at a compound annual growth rate (CAGR) of 10.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. The global dermatological drugs market is expected to grow due to driving factors such as the availability of medical resources for detecting and treating skin diseases, nutritional deficiency due to unhealthy food habits, increasing awareness when it comes to lifestyle diseases, and increasing pollution levels, and lack of immunity in the population. Additionally, the rising per capita income and the increasing purchasing power are the driving forces in this market.
Dermatological Drugs Market Segmentation
Grand View Research has segmented the global dermatological drugs market based on Indication and region:
Based on the Indication Insights, the market is segmented into Acne, Psoriasis, Rosacea, Alopecia, Others.
The psoriasis segment dominated the market with a revenue share of more than 35.0% in 2021 and is expected to expand with the highest CAGR of 11.5% from 2022 to 2028. Psoriasis is caused by the immune system mistakenly attacking healthy skin cells. Psoriasis is not a contagious disease. The disease causes swollen fingers and toes, foot pain, lower back pain, nail changes, and eye inflammation. Psoriasis can be triggered by stress, skin injury, infections, some drugs, and heavy drinking. Psoriasis is found in all age groups but is majorly seen in adults and contributes to the global dermatology drug revenue.
The alopecia segment is likely to expand with the second-highest CAGR of 10.9% from 2022 to 2028. Alopecia caused due to the body’s immune system attacking hair follicles resulting in hair loss. Alopecia is an autoimmune disorder that results in hair coming out. Both men and women suffer from Alopecia due to an imbalance of hormones, hair care treatments, scalp infections, and possible side effects of some medications. Additionally, hereditary hair loss is the most common cause of hair loss globally. Citizens are careful about hair loss and visit hospitals for diagnosis. Hair loss requires ongoing treatments for a long period and contributes to the market growth rate.
Dermatological Drugs Regional Outlook
North America
Europe
Asia Pacific
Central & South America
Middle East and Africa (MEA)
Key Companies Profile & Market Share Insights
The market is characterized by the presence of various well-established players as well as several small and medium-sized players. Pharmaceutical vendors are focusing on research activities to launch new chemical formulae of drugs to cure skin diseases and make patients feel relaxed with the most appropriate drug.
Some of the prominent players operating in the global dermatological drugs market include,
Novartis AG
Amgen Inc
AbbVie Inc
Johnson & Johnson
Leo Pharma A/S
Eli Lilly And Company
GlaxoSmithKline Plc
AstraZeneca plc
Pfizer Inc
Merck KGaA
Order a free sample PDF of the Dermatological Drugs Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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