As per our research report, the size of the global acne drugs market was valued at USD 8.71 billion in 2021. This value is further estimated to be growing at a CAGR of 4.9% from 2021 to 2026 and worth USD 11.06 billion by 2026.
The COVID-19 pandemic significantly influences dermatology patients’ continued care, especially those on systemic therapy. A vast number of skin clinics have temporarily closed their doors. A few skin specialty wards have been converted to Covid aria to treat COVID-19-infected patients. Because acne is the most common condition among patients who request an appointment, the COVID-19 era has seen a reduction in dermatology outpatient clinics. Instead, patients’ attention is being drawn to telemedicine or teledermatology. Since the WHO declared COVID-19 a pandemic, governments worldwide have enacted stringent regulations to prevent the virus from spreading. Only COVID-19 patients and emergency non-COVID-19 patients were allowed medical care for two months during the lockdown. Patients were treated via online consultation during this difficult time, and teledermatology played an essential role.
Acne is a long-term skin condition that affects people of all ages. It can continue up to 40 years. It’s a common skin condition that can result from various factors. In recent years, acne has become more common all across the world. Acne affects 9.4% of the world’s population, according to the National Centre for Biotechnology Information (NCBI). The increased incidence of acne, which continues to rise year after year, is driving the global market for acne medications. According to the American Academy of Dermatology, acne affects roughly 50 million Americans every year. According to statistics, the vast majority of incidents involve teenagers and adults. In 2013, acne treatments and pharmaceuticals generated over 1.2 billion dollars in revenue in the United States alone.
One of the major factors driving the expansion of the global acne drugs market is the rising frequency of skin-related illnesses such as acne vulgaris. Furthermore, increased public awareness of the advantages of utilizing high-end skincare products is propelling market expansion. In addition, the development of efficient therapies and treatment alternatives with few side effects and great potential is also driving the market forward. Another growth-inducing element is the increasing consumer preference for items made from natural ingredients. As a result, manufacturers are manufacturing acne-treatment solutions that include natural herbs and organic substances such as aloe vera, green tea, honey, jojoba oil, and rosemary.
Other factors, such as increasing consumer spending power and the growth of online retail platforms that offer tailored acne medications based on the user’s skin type, are likely to boost the market’s prospects. In addition, many acne medications are awaiting FDA approval. It indicates that market competition becomes more robust during the forecast period. The majority of females worldwide are concerned about their facial issues. The increased desire to have attractive appearances, particularly among young people, is another major factor accelerating the growth rate of the global acne drugs market. One of the other factors driving the market is the rise in prevalent long-term skin issues worldwide. Pollution is another factor that causes an increase in skin illnesses, hastening the development of acne medicines.
On the other hand, the acne drugs sector is impacted by strict rules restricting drugs to treat acne. Moreover, due to the different side effects and bad occurrences during therapy, the limitations have become increasingly stringent.
Isotretinoin, an oral medication, and its safety standards were recently released by the Central Drugs Standard Control Organization (CDSCO) in India. The CDSCO has instructed state and union territory drug controllers to examine the labeling of the Isotretinoin medicine and inform end-users of the drug’s potential for significant birth abnormalities.
Furthermore, the Dermatology and Allergy Subject Expert Committee (SEC) suggested that the drug be marketed only on a dermatologist’s prescription, that manufacturers offer a package insert in local languages, and that retail chemists keep track of the drug’s retail sales. As a result, these stringent standards and restrictions are forecasted to impact the market for acne drugs.
Avail sample market brochure of the report to evaluate report usefulness, get a copy @ https://www.marketdataforecast.com/market-reports/acne-medication-market/request-sample
KEY MARKET INSIGHTS:
- Based on the drug type, the OTC drugs segment is estimated to account for the most significant share in the global acne drugs market during the forecast period. The OTC drugs segment is encouraged by the patient population’s increased usage of over-the-counter drugs, which are easy to obtain and inexpensive. As a result, prescription drugs are predicted to grow at a steady rate of 6.3% from 2021 to 2026. In addition, antibiotic prescription treatment combined with topical retinoids accelerates the acne drugs market growth.
- Based on the route of administration, the topical segment is rising at a CAGR of 3.6% during the forecast period. This segment’s growth is fuelled by the high availability of products, their high success rate, and the fact that there are few adverse side effects.
- The anti-inflammatory sector accounts for a large portion of market revenue based on the drug class. Therefore, it is anticipated to continue its leadership position during the forecast period.
- North America led the global acne drugs market in 2021. The key factors driving the growth of the acne drugs market in North America are the rising prevalence of acne in the region and recent product launches. Many significant market participants in the region are developing fresh products and technologies to compete with existing goods, while others are acquiring and partnering with other acne treatments companies that are trending. For instance, Glenmark Pharmaceuticals received provisional approval from the U.S. Food and Drug Administration in June 2019 for Clindamycin Phosphate Foam, which treats acne. In addition, a generic version of Mylan Pharmaceuticals’ Evoclin Foam has been approved. As a result, the market research in North America is projected to be driven by regular product launches and R&D initiatives undergoing novel acne therapies. Acne is the most frequent skin disorder that affects late adolescents worldwide. In addition, acne vulgaris is a frequent teenage health concern that significantly influences their quality of life. According to the Canadian Dermatology Association, over 20% of Canadians had acne in 2018.
- Europe was the second-largest market for acne drugs globally in 2021, with the second-largest share.
- Due to increased ability to afford, increased healthcare spending, and growing knowledge of the safety of acne prescription products, the Asia-Pacific region is expected to grow at the fastest rate of 5.6% from 2021 to 2026.
- The anti-Inflammatory category is expected to increase significantly in the Middle East and Africa. Therefore, during the projection period, the Anti-inflammatory acne sector of the Acne treatment market in the Middle East and Africa is the most appealing.
- According to a cross-sectional study (conducted among all-female secondary school students in three randomly selected schools in Arab city (Saudi Arabia) from January to March 2018, the total prevalence of Acne vulgaris was 14.3 percent. It was unaffected by participants’ age, marital status, or nationality, and acne vulgaris significantly influenced the quality of life in 14.5 percent of instances. As a result, the market is likely to be driven by the high incidence of acne worldwide throughout the forecast period.
- Almirall SA., Bausch Health Companies Inc., GlaxoSmithKline Plc (GSK), Johnson & Johnson, Galderma S.A., Mayne Pharma Group Limited, Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Limited, and Teva Pharmaceutical Industries Ltd. are a few of the notable companies operating in the global acne drugs market.
The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/acne-medication-market/customization
SEGMENTS COVERED IN THIS REPORT:
- OTC drugs
- Prescription drugs
By Route of Administration:
By Drug Class:
- Anti-Inflammatory Drugs
- Combination Drugs
- Hormonal Agents
- Oral Retinoid
- Topical Retinoid
- North America
- Latin America
Browse Regional Reports:
- North America Acne Drugs Market
- Europe Acne Drugs Market
- APAC Acne Drugs Market
- Latin America Acne Drugs Market
Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.
Market Data Forecast