The Global Dermatological Therapeutics Market to Garner $48.94 Billion by 2028

A report by Triton Market Research estimates that the global dermatological therapeutics market, which generated $24.69 billion in 2019, will showcase a CAGR of 7.90% by the year 2028.

A recent study by Triton Market Research titled ‘Global Dermatological Therapeutics Market,’ covers the Global Analysis and Forecast for 2019-2028 by Application (Rosacea, Atopic Dermatitis, Psoriasis, Alopecia, Herpes, Acne Vulgaris, Other Applications), by Drug Class (Calcineurin Inhibitors, Retinoids, Corticosteroids, Anti-acne, Anti-infectives, Other Drug Classes), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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The report on the global dermatological therapeutics market shows that the industry would generate $48.94 billion by 2028, with a CAGR of 7.90% over the forecast years from 2019 to 2028.
Dermatological therapeutics is an area of treatment and prevention of the diseases associated with the skin, along with hairs, nails, oral cavity, and genitals. Its scope expands across drug classes and diseases. There are several modes available to administer these treatments, with the most popular being is topical. This is succeeded by oral and other routes.

According to the American Academy of Dermatology (AAD), acne is the most common dermatological condition affecting people in the United States, with up to 50 million people reporting to be living with it, annually. Also, according to the National Rosacea Society, rosacea is a condition that affects nearly 415 million people across the world. Therefore, people are increasingly seeking treatment for such conditions. This is propelling the growth of the dermatological therapeutics market. In certain cases, patients lack knowledge and are ignorant, due to which, they change the course of action of the therapy quite abruptly. This is creating challenges for companies and care providers to transfer the right treatment to the targeted patient population.

The market for dermatological therapeutics is primarily classified into application and drug class. According to components, it is bifurcated into receivers and transmitters. Application is divided into rosacea, atopic dermatitis, psoriasis, alopecia, herpes, acne vulgaris, and other applications. Whereas, drug class consists of calcineurin inhibitors, retinoids, corticosteroids, anti-acne, anti-infectives, and other drug classes.

North America has the most evolved dermatological therapeutics market, globally, at present. This is attributable to the high prevalence of chronic skin diseases and increased adoption of biologic drugs for treating moderate to severe plaque psoriasis. Also, anticipated new product approvals are likely to fuel the growth of the prescription dermatology therapeutics market in North America. Further, the Asia-Pacific is expected to showcase the fastest growth rate in the global market over the forecasting years.

Merck & Co, AGI Dermatics, Allergan, Amgen Inc, Bausch Health Companies Inc, Johnson & Johnson, Galderma, Almirall, Abbvie Inc, Novartis AG, Pfizer Inc, Glaxosmithkline Plc, and Leo Pharma A/S are some of the prominent names in this market.

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Question & Answer: Dermatological Therapeutics Market

Question 1: What is propelling the growth of the dermatological therapeutics market?
Answer: According to the American Academy of Dermatology (AAD), acne is the most common dermatological condition affecting people in the United States, with up to 50 million people reporting to be living with it, annually. Also, according to the National Rosacea Society, rosacea is a condition that affects nearly 415 million people across the world. Therefore, people are increasingly seeking treatment for such conditions. This is propelling the growth of the dermatological therapeutics market.

Question 2: What is challenging the dermatological therapeutics market growth?
Answer: In certain cases, patients lack knowledge and are ignorant, due to which, they change the course of action of the therapy quite abruptly. This is creating challenges for companies and care providers to transfer the right treatment to the targeted patient population, thereby affecting market growth.

Question 3: Which regions are influencing the growth of the dermatological therapeutics market?
Answer: North America has the most evolved dermatological therapeutics market, globally, at present. This is attributable to the high prevalence of chronic skin diseases and increased adoption of biologic drugs for treating moderate to severe plaque psoriasis. Also, anticipated new product approvals are likely to fuel the growth of the prescription dermatology therapeutics market in North America. Further, the Asia-Pacific is expected to showcase the fastest growth rate in the global market over the forecasting years.

Question 4: Which are some of the prominent names in the dermatological therapeutics market?
Answer: Merck & Co, AGI Dermatics, Allergan, Amgen Inc, Bausch Health Companies Inc, Johnson & Johnson, Galderma, Almirall, Abbvie Inc, Novartis AG, Pfizer Inc, Glaxosmithkline Plc, and Leo Pharma A/S are some of the prominent names in this market.

Related Report:
Global Medical Aesthetics Market

The global medical aesthetics market has been forecasted to showcase a CAGR of 5.53% during the projected phase of 2019 to 2028, and generate $18527.3 million in revenue by 2028.

Medical aesthetics is a field of dermatology that focuses on improving people’s physical appearance via cosmetic treatments. Researchers in this field are invested in studying the application of minimally invasive cosmetic procedures that can be used to enhance an individual’s physical appearance. These procedures have increased the use of facial rejuvenation products, as well as dental implantation and breast implant procedures, among others.

People in developed nations have embraced medical aesthetics, and it is especially in high demand among baby boomers. It has even become an integral part of the regular health treatment in people wanting a natural and healthy appearance. Aesthetic clinical treatments are increasingly becoming popular, as they provide rapid results in a short duration. According to research estimates, the number of skilled medical professionals practicing aesthetic medicine has increased since the 2000s. Various marketing strategies adopted by clinics and vendors in the medical aesthetics market are increasing people’s interest in medical aesthetic treatments.

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