Global Dermatology Drugs Market Analysis

Global Dermatology Drugs Market Executive Summary

Many medications are currently available for the treatment of a variety of dermatologic disorders, including dermatitis, vitiligo, acne, skin cancer, and others. The Global market is anticipated to grow as a result of more product releases and rigorous clinical trials. In terms of their physical appearance, teenagers today frequently struggle with acne. The demand for and sales of dermatology drugs are therefore anticipated to be driven by the rising prevalence of anti-infective products. Additionally, expanded distribution networks and better marketing tactics employed by businesses to maximize product reach are projected to help the market's expansion throughout the projection period.

Market Size and Key Findings

The Global Dermatology Drugs Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

Global Dermatology Drugs Market Size (In $Bn)

(2021-2030F)

Market Dynamics

Market Growth Drivers & Restraints Analysis

The market is majorly driven by the rising burden of dermatology diseases. The factors responsible for developing skin diseases include aging, climatic conditions, stress, auto-immune response, socioeconomic status, personal habits, and genetics. Acne is the most common skin condition among the young population and an increasingly physical appearance-conscious youth is a fuelling factor for the market growth. Moreover, according to the Global Burden of Disease (GBD), skin diseases remain to be the important cause of the nonfatal disease burden, thereby fuelling market demand.

The increasing incidence of dermatological diseases and increasing levels of awareness-related disease progression, etiology, and available therapies are leading to the high growth of dermatological drugs.

However, the side effects caused by several drugs are restraining market growth. Some of the products are withdrawn from the market due to serious side effects.

Competitive Landscape

Key Players

The prominent players operating in this market include Novartis AG, Bausch Health Companies Inc., Bristol-Myers Squibb Company, Pfizer Inc., Merck & Co. Inc., Johnson & Johnson, AbbVie Inc., Amgen Inc., Galderma S.A., Eli Lilly and Company, Mylan N.V., GlaxoSmithKline plc, Sanofi, LEO Pharma A/S