Dermatological Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Application (Alopecia, Herpes, Psoriasis, Rosacea, Atopic Dermatitis, and Other Applications), by Drug Class (Anti-infectives, Corticosteroids, Anti-acne, Calcineurin Inhibitors, Retinoids, and Other Drug Classes), and By Region, Competition 2018-2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationDermatological Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Application (Alopecia, Herpes, Psoriasis, Rosacea, Atopic Dermatitis, and Other Applications), by Drug Class (Anti-infectives, Corticosteroids, Anti-acne, Calcineurin Inhibitors, Retinoids, and Other Drug Classes), and By Region, Competition 2018-2028
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 18.45 billion |
| CAGR (2024-2028) | 8.33% |
| Fastest Growing Segment | Asia Pacific |
| Largest Market | North America |
Market Overview
Global Dermatological Therapeutics Market has valued at USD 18.45 billion in 2022 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 8.33% through 2028.
The increasing incidence of skin disorders such as acne, psoriasis, eczema, skin cancer, and fungal infections is a significant driver for the dermatological therapeutics market. As the population ages and environmental factors continue to affect skin health, the demand for treatment options rises.
Key Market Drivers
Rising Awareness and Aesthetic Concerns
Aesthetic concerns related to aging, such as fine lines, wrinkles, and age spots, drive the demand for anti-aging dermatological products and procedures. This includes the use of topical creams, injectables like Botox, and laser treatments. Many individuals seek dermal fillers to enhance facial volume and achieve a more youthful appearance. These treatments often fall under the domain of dermatological therapeutics. Chemical peels are used for skin rejuvenation, improving skin texture, and addressing aesthetic concerns like pigmentation irregularities. Aesthetic concerns about scars, whether from surgery, acne, or injuries, lead to the demand for scar management products and treatments. The desire for brighter and more even-toned skin has driven the market for dermatological products that address issues such as hyperpigmentation and melasma. Acne is a common skin condition that can lead to aesthetic concerns, especially when it results in scarring. Dermatological therapeutics, including prescription and over-the-counter products, are sought after for acne management and scar reduction.
Increasing awareness of the damaging effects of UV radiation and the importance of sun protection has led to greater use of dermatological products like sunscreens and skin cancer prevention therapies. The influence of social media, beauty influencers, and celebrity endorsements has made people more conscious of their appearance and skincare routines. This has contributed to the demand for a wide range of dermatological products. Consumers have access to more information than ever before, allowing them to educate themselves about skincare and the benefits of dermatological products. This education often leads to increased product adoption. Dermatological therapeutics have become more personalized to meet individual skincare needs. Customized skincare regimens, often recommended by dermatologists, have gained popularity. The preference for minimally invasive aesthetic procedures, such as laser therapy and microdermabrasion, has grown due to reduced downtime and natural-looking results. Celebrities openly discussing their skincare routines and endorsements of specific products or treatments can significantly influence consumer choices and boost demand. The globalization of beauty ideals, where clear and healthy skin is considered universally attractive, has led to the global demand for dermatological products and treatments. This factor will help in the development of
Advancements in Biotechnology
Biotechnology has led to the development of innovative and targeted treatments for various skin conditions.
Biotechnology has improved the ability to culture skin cells and tissues in the laboratory. This facilitates research, drug testing, and the development of novel dermatological therapies. Ongoing research in gene therapy holds promise for treating genetic skin disorders by correcting or replacing faulty genes. Although in its early stages, gene therapy has the potential to revolutionize dermatological therapeutics. Advances in biotechnology have expanded the use of immunotherapy for skin cancer treatment. Immune checkpoint inhibitors and other immunotherapeutic agents have shown efficacy in treating melanoma and other skin cancers. Biotechnology has enabled the development of biology for rare dermatological conditions, addressing previously unmet medical needs and increasing access to effective treatments. Biotech companies invest heavily in dermatological research and development, leading to a pipeline of innovative products and therapies that drive the market forward. This factor will pace up the demand of
Increase in Disposable Income
With higher disposable income, individuals are more willing and able to invest in premium skincare products. This includes high-end moisturizers, serums, and specialty creams, which are often considered part of dermatological skincare. An increase in disposable income allows individuals to afford cosmeceutical products that bridge the gap between cosmetics and pharmaceuticals. Additionally, people may opt for aesthetic dermatological treatments, such as chemical peels, microdermabrasion, and laser therapy, which can be costly but provide visible results. Higher income levels often mean better access to dermatologists and skincare specialists. People can seek professional advice and receive personalized treatment plans, including prescription dermatological therapeutics, when necessary. Affluent individuals may choose to undergo advanced dermatological procedures like Botox injections, dermal fillers, and laser resurfacing to address aging concerns and skin imperfections.
People with higher disposable income may be more inclined to invest in high-quality sunscreens and sun-protective clothing to prevent sun damage and reduce the risk of skin cancer. Individuals with higher incomes can afford long-term treatment regimens for chronic skin conditions such as psoriasis, eczema, and acne, including prescription medications and biologic therapies. Rising income levels often lead to the adoption of holistic skincare routines that encompass a range of dermatological therapeutics, including cleansers, moisturizers, and specialty treatments. The ability to afford preventive and anti-aging dermatological products allows individuals to proactively address skin concerns, maintain youthful skin, and prevent the progression of skin conditions. People with higher disposable incomes may travel to seek dermatological treatments or aesthetic procedures in countries known for their advanced medical facilities and expertise. Medical spas offering a combination of clinical skincare treatments and relaxation services are popular among individuals with disposable income, driving demand for various dermatological procedures. Some affluent consumers prefer customized and boutique skincare solutions, including personalized skincare formulations tailored to their specific needs. Higher-income individuals may be drawn to luxury skincare brands that offer exclusive and premium dermatological products. This factor will accelerate the demand of
Key Market Challenges
Generic Competition
When generic versions of dermatological drugs become found at, they are often sold at significantly lower prices than their branded counterparts. This can lead to price erosion for the branded products, reducing their market share and profitability. Branded dermatological products typically have patent protection for a certain period, during which they enjoy exclusivity in the market. When these patents expire, generic manufacturers can enter the market with lower-cost alternatives, reducing the market share of the original brand. The introduction of generic versions of dermatological drugs can result in a sharp decline in sales revenue for the pharmaceutical companies that developed and marketed the branded products. Generic competition can intensify competition within the dermatological therapeutics market, which can, in turn, lead to pricing pressures and reduced profit margins for both branded and generic manufacturers. As more generic versions of a dermatological drug become found at, the market can become fragmented, with multiple manufacturers offering similar products. This fragmentation can make it challenging for dermatologists and patients to choose among various generic options. Healthcare providers, including dermatologists, may increasingly prescribe generic dermatological drugs to reduce healthcare costs. This can lead to a decline in the use of branded products.
Market Saturation
When multiple companies offer similar dermatological products for the same conditions, competition can become intense. This competition may lead to price wars, reducing profit margins for all players. With a saturated market, companies may lower prices to gain a competitive edge, which can result in reduced overall revenue and profitability. In a saturated market, it becomes increasingly difficult for companies to capture additional market share, as most potential customers are already using existing products. When numerous products treat the same dermatological conditions, it can be challenging for companies to differentiate their offerings based on efficacy or other factors. Market saturation can discourage investment in research and development for new dermatological therapies, as companies may perceive limited opportunities for significant returns on investment. Rather than developing groundbreaking treatments, companies may focus on making incremental improvements to existing products to maintain market share. Established brands may have an advantage in saturated markets due to existing customer loyalty, making it harder for newer entrants to gain traction.
Key Market Trends
Personalized Medicine
Advances in genetics and genomics have allowed dermatologists to analyze a patient's genetic profile to better understand their susceptibility to certain skin conditions or their response to specific treatments. Genetic testing can help identify genetic markers associated with conditions like psoriasis or melanoma, enabling personalized treatment plans. Dermatologists are increasingly using biomarkers, which are specific molecules or genetic markers found in a patient's skin or blood, to assess the severity of skin conditions and predict their response to certain therapies. This helps tailor treatment approaches for better outcomes. With a deeper understanding of the molecular mechanisms underlying skin disorders, dermatologists can prescribe targeted therapies, including biologics and small molecule inhibitors, that specifically address the pathways contributing to a patient's condition. This approach minimizes side effects and maximizes treatment efficacy. Compounded topical treatments can be personalized to suit an individual's skin type, condition, and sensitivities. Dermatologists may work with compounding pharmacists to create customized formulations tailored to the patient's needs. Personalized medicine allows dermatologists to identify individuals at higher risk of skin cancers or other dermatological conditions. This enables more proactive surveillance and preventive measures, such as regular skin cancer screenings or tailored skincare routines.
Segmental Insights
Drug Class Insights
In 2022, the Global Dermatological Therapeutics Market largest share was held by Anti-infectives segment in the forecast period and is predicted to continue expanding over the coming years.
Application Insights
In 2022, the Global Dermatological Therapeutics Market largest share was held by Psoriasis segment and is predicted to continue expanding over the coming years.
Regional Insights
The North America region dominates the Global Dermatological Therapeutics Market in 2022. North America boasts a well-developed healthcare infrastructure, including many dermatology clinics and healthcare providers specializing in skin disorders.
Recent Developments
- In January 2022, RINVOQwas approved by the U.S. Food and Drug Administration (FDA) for the treatmentof moderate to severe atopic dermatitis in adults and children 12 years of ageand older whose condition has not responded to prior therapy and has not beenadequately controlled by other pills or injections, including biologicmedications, or in cases where using other pills or injections is not advised.Children 12 years of age and older and adults who weigh at least 40 kg canstart taking RINVOQ 15 mg once daily.1The dose may be increased to 30 mg oncedaily in young kids and adults under 65 who do not receive an acceptableresponse.
- In July 2022, The U.S. Food and DrugAdministration (FDA) has approved the New Drug Application (NDA) for ZORYVE(roflumilast) cream 0.3% for the treatment of plaque psoriasis, includingintertriginous areas, in patients 12 years of age and older, according toArcutis Biotherapeutics, Inc., an early commercial-stage biopharmaceuticalcompany focused on developing significant innovations in immuno-dermatology.ZORYVE, the first and only topical PDE4 inhibitor licenced for the treatment ofplaque psoriasis, offers quick clearing of psoriasis plaques, and lessensitching over the entire body. ZORYVE, a once-daily, steroid-free cream with apatient-friendly composition, is specially designed to make plaque psoriasiscare easier for those with the condition.
- In September 2022, For the treatment ofadult patients with moderate-to-severe plaque psoriasis who are eligible forsystemic therapy or phototherapy, the FDA has approved deucravacitinib(Sotyktu, Bristol Myers Squibb). Results from the phase 3 POETYK PSO-1 andPOETYK PSO-2 clinical studies were used to support the approval of thefirst-in-class, oral, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor.Deucravacitinib demonstrated greater efficacy in both studies compared toplacebo and twice-daily apremilast (Otezla) in 1684 patients withmoderate-to-severe plaque psoriasis who were 18 years of age and older. At 16and 24 weeks, deucravacitinib's greater efficacy was seen, and responsespersisted for 52 weeks compared to placebo and apremilast.
Key Market Players
- AbbvieInc. (Allergan PLC)
- AlmirallSA
- Amgen Inc.
- BauschHealth Companies Inc.
- GaldermaSA
- GlaxoSmithKlinePLC
- Johnson& Johnson
- NovartisAG
- PfizerInc.
- Bristol-MyersSquibb Company
| By Application | By Drug Class | By Region | By Region |
|
|
|
|
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy