Dermatological Drugs Market Size, Share & Trends Analysis Report By Indication (Acne, Psoriasis, Rosacea, Alopecia), By Region (North America, Europe, Asia Pacific, Central & South America, MEA), And Segment Forecasts, 2021 - 2028

Report Overview

The global dermatological drugs market size was valued at USD 15.68 billion in 2020 and is expected to expand at a compound annual growth (CAGR) of 10.8% from 2021 to 2028. Parasites, fungus, and other microorganisms living on the skin, bacteria trapped in skin pores and hair follicles, and increasing pollution levels that may cause allergies and reactions are the key factors driving the global market. Moreover, growing awareness regarding skin diseases and increasing demand for rapid diagnosis are contributing to the growth of the market. Increasing demand for innovative drugs and growing R&D investments in developing new drugs will contribute to the market revenue.

Dermatology is a branch of medical science that deals with the diagnosis, prevention, and treatment of various skin-related diseases, including hair and nails. Dermatological drugs involve drugs that are used to treat skin diseases. The goal of dermatological drugs is to prevent skin disorders. Skin treatment includes laser therapy, topical and systemic medications, photodynamic therapy, radio therapy, vitiligo surgery, and dermatological surgery. These dermatological drugs are also used for skincare to maintain skin features such as glow and healthiness.

During the COVID-19 pandemic and lockdown situation, the governments of various countries restricted the physical movement and citizens preferred to stay at home as a precautionary measure. Supply chains of oncology drugs were disturbed. Considering the urgency and emergency situation of dermatological drugs, the supply of drugs was allowed. Thus, a negligible impact of the pandemic was observed on the market revenue.

Indication Insights

The psoriasis segment dominated the market with a revenue share of more than 35.0% in 2020 and is expected to expand at the highest CAGR from 2021 to 2028. Psoriasis happens when the immune system mistakenly attacks 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 majorly is seen in adults, thereby contributing to the global market revenue.

The alopecia segment is likely to expand at the second-highest CAGR from 2021 to 2028. Alopecia is caused when the body’s immune system attacks hair follicles resulting in hair loss. Alopecia is an autoimmune disorder that causes the hair to come out. Both men and women suffer from Alopecia due to the 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, thus contributing to the market growth.

Regional Insights

North America held the largest revenue share of over 35.0% in 2020. The presence of well-established pharmaceutical vendors is one of the key factors supporting the market growth in the region. Asia Pacific is likely to expand at the highest CAGR of 12.2% from 2021 to 2028. Countries such as China and India with the largest population across the world are expected to have a large number of patients with skin diseases during the forecast period.

Continuous improvement of the life science industry and health services and awareness regarding skin diseases and their treatment are the key factors contributing to the growth of the APAC market. Moreover, increasing incomes and rising purchasing power of the citizens are fuelling the market growth in APAC. Europe held the second-largest revenue share in 2020. Factors such as increasing investment in the healthcare sector, greater prevalence of healthcare insurance among the masses, and supportive regulatory frameworks of the pharmaceutical industry in this region are contributing to the market revenue.

Key Companies & Market Share Insights

The market is characterized by the presence of various well-established players and several small and medium players. Pharmaceutical vendors are focusing on research activities to launch new chemical formulae of drugs to cure skin diseases and relax patients with the most appropriate drug. Moreover, pharmaceutical vendors are expanding their reach across all the regions of the world to increase revenue. Such initiatives are expected to boost the adoption rate of dermatological drugs. The vendors are aggressively following organic as well as inorganic strategies to expand their footprints across the globe. Some prominent players 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

 Dermatological Drugs Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global dermatological drugs market report on the basis of indication and region:

• Indication Outlook (Revenue, USD Million, 2017 - 2028)
  • Acne
  • Psoriasis
  • Rosacea
  • Alopecia
  • Others
• Regional Outlook (Revenue, USD Million, 2017 - 2028)
  • North America
    •  U.S.
  • Europe
    • Germany
    • France
    • U.K.
  • Asia Pacific
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa
    • South Africa