Acne Remedies Maket to Reach 10,929 million US$ by 2025- Latest Innovation Trends and Growth Opportunities
The Acne Remedies Market reached $ 8,017 million in 2017 and is projected to reach $ 10,929 million by 2025, with annual average growth of 3.9% from 2018 to 2025.
Factors driving the growth of the acne remedies market include increased global epidemic outbreaks, unhealthy urban lifestyles, increased pollution, and increased interest in skin care products. However, the presence of alternative therapies, such as side effects associated with acne treatment and modification and laser therapy, hinders market growth. Conversely, the development of new products with fewer side effects and the presence of undeveloped markets in emerging economies are expected to provide favorable market growth opportunities.
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The key players of this market include
• Allergan Plc.
• Nestle S.A. (Galderma S.A.)
• Johnson & Johnson
• Mayne Pharma Group Limited
• Mylan N.V.
• Pfizer Inc.
• GlaxoSmithKline Plc (Stiefel Laboratories Inc.)
• Sun Pharmaceutical Industries Limited
• Teva Pharmaceutical Industries Ltd.
• Valeant Pharmaceuticals International Inc.
The retinoids segment accounted for the largest share in 2017, owing to high usage in treatment of acne and lesser side effects as compared to other therapeutics. However, the salicylic acid segment is expected to grow at the high CAGR from 2018 to 2025.
The inflammatory acne segment is the largest acne type segment in the global acne medication market in 2017 and is expected to maintain its lead in the forecast period. On the other hand, non-inflammatory acne segment is anticipated to record the highest CAGR from 2018-2025.
By type, the prescription medicine segment dominated the global acne treatment market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.
The utilization rate of topical medications for acne treatment is high owing to high availability of these products with high success rate and lesser side effects. However, the oral medication segment is expected to grow at a CAGR of 3.6% during the forecast period.
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Key Findings of the Acne Medication Market:
• The antibiotics segment accounted for nearly one-fourth share of the global acne medication market in 2017.
• The over-the-counter medicine segment is expected to grow at a CAGR of 2.9% from 2018 to 2025.
• The non-inflammatory acne segment accounted for around two-fifths share of the global market in 2017.
• Europe accounted for around one-fourth share of the global market in 2017.
• LAMEA is expected to provide lucrative market growth opportunities and grows with the CAGR of 4.5% from 2018 to 2025.
North America was the leading revenue contributor to the global acne medication market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the early approval of acne medication products and high adoption of prescription medicines in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 5.6% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward safe acne medications products.
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