Dermatologicals Market Size, Share, Competitive Landscape and Trend Analysis Report, by Disease, Type and Route of Administration : Global Opportunity Analysis and Industry Forecast, 2021--2030

Dermatologicals Market Insights, 2030

The global dermatologicals market size was valued at $19,974.3 million in 2020, and is projected to reach $59,309.3 million by 2030, registering a CAGR of 11.5% from 2021 to 2030. Dermatology is defined as the branch of medicine, which deals with skin and various diseases of skin such as acne, atopic dermatitis, skin cancer, and psoriasis. A dermatologist is a physician having specialization in condition involving hair, skin, and nails. According to the American Academy of Dermatology Association, it was reported that a dermatologist can identify and treat around 3,000 skin-related disease. The skin acts as a barrier of body to protect the internal organ from bacterial and injury. The dermatologic conditions are common, and almost every individual experiences symptoms of one or other dermatologic condition at some point in life. 

The growth of the global dermatologicals market is majorly driven by increase in prevalence of skin diseases such as acne, atopic dermatitis, skin cancer, and rosacea; rise in demand for topical dermatological products; increase in funding from private & government organizations for development of pharmaceutical manufacturing segments; and rise in R&D activities for advancement of dermatological products. According to the American Cancer Society, in 2021, it was reported that around 106,110 new melanoma cases are diagnosed in U.S. In addition, according to American Academy of Dermatology, in 2021, it reported that skin cancer is the most common cancer in the U.S.

Furthermore, increase in number of approval for dermatological products drives growth of the market. For instance, in December 2021, AbbVie Inc., a pharmaceutical company, announced the U.S. Food and Drug Administration (FDA) approval for Rinvoq (upadacitinib) for the treatment of patient suffering from active psoriatic arthritis. This drug is recommended for the patient who had intolerance or inadequate response to the tumor necrosis factor blockers. 

In addition, increase in number of clinical studies for evaluating safety and efficiency of a wide range of therapeutic drugs is anticipated to contribute toward growth of the dermatologicals market. For instance, in December 2021, Amgen Inc., a pharmaceutical company, announced the positive result from phase 3 placebo controlled, double blind clinical study. The study aims to analyze the efficiency of Otezla for treatment of moderate to severe psoriasis. The study reported that Otezla (oral 30 mg) resulted in significantly improvement in the symptoms of genital psoriasis at 16 week as compared to placebo group.  Moreover, increase in prevalence of teenager and younger population, who are more susceptible to skin diseases, due to hormonal change propel growth of the market. According to the American Academy of Dermatology, it was observed that around 85% of population between the age of 12 to 24 years is affected with minor acne. 

Furthermore, technological development in the pharmaceutical industry to manufacture advanced dermatological products is expected to provide remunerative opportunities for expansion of the global dermatologicals market during the forecast period. Moreover, presence of key manufacturing companies to manufacture and distribute dermatologicals products and rise in expenditure on healthcare products propel growth of the dermatologicals market.

Initiatives taken by government and private organizations to develop pharmaceutical industry propel the growth of the market. However, the presence of alternative for acne treatment such as light or lasers therapies, chemical peels, micro needling, micro dermabrasion, and lesion removal is expected to restrict the dermatologicals market growth during the forecast period.

Market Segmentation

The global dermatologicals market is segmented into disease, type, route of administration, and region. By disease, the market is categorized into acne, dermatitis, psoriasis, skin cancer, rosacea, alopecia, and others. 

On the basis of type, it is divided into prescription-based drugs, and over-the-counter drugs. Depending on route of administration, it is categorized into topical administration, oral administration, and parenteral administration.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Saudi Arabia, the UAE, Russia, Kazakhstan, Azerbaijan, Iran, Algeria, Egypt, and rest of LAMEA).

Segment Review

Depending on disease, the acne capsules segment dominated the dermatologicals market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in R&D activities in the healthcare sector and increase in prevalence of acne.

However, the dermatitis segment is expected to witness considerable growth during the forecast period, owing to increase in demand for dermatitis.

By Type

By type, the prescription-based drugs segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in prevalence of skin diseases and initiatives taken by government and private organization about skin disease. However, the over-the-counter drugs segment is expected to witness considerable growth during the forecast period, owing to increase in demand for over-the-counter drugs and increase in number of approval for over-the-counter drugs.

By Route of Administration

On the basis of route of administration, the topical administration segment dominated the dermatologicals market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for topical administration, rise in number of U.S. FDA approval for drug, and advancements in R&D activities in pharmaceutical sectors. However, the parenteral administration segment is expected to witness considerable growth during the forecast period, owing to advancement in technology in the healthcare sector and rise in number of biologics drugs.

By Region

North America garnered a major share in the dermatologicals market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of acne, increase in number of approval for dermatological products, presence of key players, and development in R&D activities in healthcare sector in the region. However, Asia-Pacific is expected to register highest CAGR of 12.3% from 2021 to 2030, owing to increase in prevalence of skin disease, rise in awareness about the use of dermatological drugs, growth in health care expenditures, and rise in adoption of aesthetic product. 

Key Players in Market

The key players operating 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., and Sun Pharmaceutical Industries Limited. 

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the dermatologicals market, and the current trends &future estimations to elucidate imminent investment pockets.

• It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing dermatologicals market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the dermatologicals industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

  Dermatologicals Market Report Highlights

Aspects	Details
By Key Market Players	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.
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  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest of Europe) Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Analyst Review

This section provides the opinions of the top-level CXOs operating in the global dermatologicals market. According to the insights of the CXOs, the global dermatologicals market is expected to exhibit high growth potential attributable to factors such as rise in in R&D activities in pharmaceutical industry for manufacturing of dermatologicals; increase in prevalence of skin diseases, such as acne, atopic dermatitis, rosacea; and surge in number of approvals by the U.S. Food and Drug Administration (FDA) for dermatologicals. Furthermore, the dermatologicals market has gained interest of pharmaceutical manufacturing companies, owing to surge in demand for skin care products and dermatological drugs. Moreover, increase in number of teenagers, who are highly prone to skin diseases, due to change in hormonal level, notably contributes toward the growth of the market.

The CXOs further added that North America is expected to witness the highest growth, in terms of revenue, owing to rise in prevalence of acne, increase in number of approvals for dermatological products, and strong presence of key players.

Author Name(s) : Linu Dash | Roshan Deshmukh

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