The Global Dermatological Therapeutics Market is estimated
to record a CAGR of 7.54% in terms of revenue during the forecast period, 2019-2028.
“Browse 41
Market Data Tables and 44 Figures spread over 135 Pages, along with an in-depth
TOC on the Global
Dermatological Therapeutics Market Forecast
2019-2028.”
Dermatological
therapeutics entails the prevention and treatment of diseases related to hair,
skin, oral cavity, nails, and genitals. It involves a vast range of drug
classes and diseases. Although there are several routes of administration, the
prominent one is topical, followed by oral and others.
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Surging Skin Diseases across the Globe impacts Market Growth
Skin diseases
contribute significantly to the growing global disease burden. The major
factors are evaluated to be aging, genetics, and the environment. The most
common among these include scabies, eczema, warts, pyoderma, etc. A 2014
publication of the Journal of Investigative Dermatology stated that the
diseases related to skin affect almost 900 million people in the world.
According to the stats provided by the Centre for Disease Control and
Prevention (CDC), around 14.3% of the children aged between 0 to 4 years had
skin allergies in 2018. The American Academy of Dermatology Association
determines acne as the most common skin condition in the US. It also states
that approx. 7.5 million people in the US have psoriasis.
Further, factors
contributing to the significant number of skin diseases in countries like
India, are deduced to be a low level of sanitation and rural residence of the
majority. The developed countries of Europe are also encompassed by a considerable
number of diseases associated with the skin. Such alarming rates are estimated
to contribute significantly to market growth.
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Atopic Dermatitis is set to be the Most Prominent Application
by 2028
Atopic
dermatitis (eczema) is an inflammatory skin disease that renders the skin itchy
and red. It is usually common in children, but not limited to them. The
American College of Allergy, Asthma & Immunology states that 30% of
patients experience symptoms of atopic dermatitis by the age of five, and
almost 60% of patients may get symptoms by the age of one. The global
prevalence of the disease stands at 25% in the case of children and 10% in the case
of young adults as per the World Allergy Organization 2020. According to the
National Clinical Trial Registry (NCT), about 130 clinical trials are going on
across the world, for treating atopic dermatitis.
Asia Pacific is determined to record the highest CAGR by 2028
The region of
Asia Pacific is evaluated to be a conducive market with surging patient pool,
growing disposable incomes, and rising awareness. These factors are estimated
to be instrumental in contributing to market growth. In China, according to the
World Population Ageing 2019 report, the population aged above 65 years is
projected to reach 246.98 million by 2030. An open survey with 500 male
respondents in South Korea determined that acne accounted for 44% of the
leading skin concerns in 2019.
The major
companies operating in the global market include, Amgen Inc, AbbVie Inc,
Galderma, Novartis AG, etc. The competition in the market is based on product
innovation. They are targeting long-term treatment options and efficacy through
their product portfolio. Further, the threat of new entrants is determined to
be low to moderate.
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