Articles
Dermatology Drug Market Latest Trends, Analysis & Insights
by Pramod Kumar Digital Marketing ProfessionalDue to the
increasing geriatric population, rising incidents and awareness about dermatological diseases, a strong channel for dermatological
drugs, and increasing purchasing power of people, the market for dermatology
drugs is growing. An ample number of drugs have been approved by the FDA and
other drugs regulatory bodies for various skin conditions and disorders, such as
acne, wrinkles, and psoriasis. The dermatology drugs market generated a revenue
of $21.5 billion in 2017 and is expected to register a CAGR of 8.2% during the
forecast period (2018–2023).
The market
has been segmented by treatment, drug, therapy area, prescription mode,
distribution channel, end-user, and region. Based on treatment, the market is
divided into retinoids, calcineurin inhibitors, topical corticosteroids,
biologics, hormonal therapy, antihistamines, and others, wherein the others
category consists of antibiotic, antifungal, antibacterial, and antiviral
agents, and enzyme inhibitors. Out of these, topical corticosteroids led the
dermatology drugs market in 2017 with a revenue share of 28.9%. The reason for
its dominance was the increasing prevalence of eczema across the globe, which
resulted in a growing demand for these drugs.
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The
end-users of these drugs include hospitals, clinics, at-home, cosmetic centers,
and others, which consists of research and clinical laboratories, ambulatory
surgical centers and nursing homes. Among all these, hospitals dominated the
dermatology drugs market during the historical period 2013–2017, accounting for
38.0% revenue share in 2017. Moving further to the global ground, North America
has the largest market for dermatology drugs. In 2017, the region held a 43.3%
share in the market due to high per capita income and growing awareness on
newly developed drugs.
Various
dermatological drugs manufactured by market players are getting approval from
authorized regulatory authorities, such as U.S. Food and Drug Administration
and the European Union (EU) that are positively affecting the growth of the
dermatology drugs market. For instance, in September 2018, Libtayo
(cemiplimab-rwlc) developed by Sanofi received the USFDA approval for treating
metastatic cutaneous squamous cell carcinoma in those, who have not qualified
for surgical or radiation treatments.
Therefore,
it is clear that as more people are affected by dermatological issues in the
future, the market for related drugs will also grow.
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About Pramod Kumar 
Digital Marketing Professional
84 connections, 0 recommendations, 236 honor points.Joined APSense since, August 29th, 2018, From Noida, India.
Created on Nov 12th 2019 02:38. Viewed 510 times.
Leading Players changing the Global Market of Dermatology Drugs are GlaxoSmithKline, Johnson & Johnson Services Inc., AstraZeneca, AbbVie Inc., LEO Pharma A/S, and Pfizer, Inc.
Nov 20th 2019 04:06