Acne Medication Market to Hit $13.35 Billion by 2027
Acne or acne vulgaris is a skin disease caused due to clogging of hair follicles with dead skin cells and oil from skin cells. This disease is characterized by pimples, blackheads, oily skin, and scarring. There are two types of acne including non-inflammatory and inflammatory acne, where the latter takes longer duration to heal and can cause permanent effects on skin. It generally affects skin with comparatively high number of sweat glands such as upper part of chest, back, and face. Acne medications are drugs that are indicated for treatment of acne. These include several prescription and over-the-counter medicines such as retinoids, isotretinoin, antibiotics, salicylic acid, benzoyl peroxide, and oral contraceptives.
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This pandemic has disrupted growth in many economies across various domains. Impact of COVID-19 pandemic remained negative for key players in the acne medication market. However, many dermatologist clinics are facing a difficulty due to lockdown, which has led to a drop in number of patient visits to clinics. However, this deleterious impact is being compensated by some means with the use of telemedicine.
Rise in prevalence of acne vulgaris across the world, unhealthy urban lifestyle, surge in pollution, and increase in focus on skin care products are the major factors that boost the market growth. However, side effects associated with acne medications and reforms and presence of alternative treatment options such as laser therapies impede the market growth. Conversely, development of newer products with lesser side effects and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the acne medication market.
By therapeutic class, the retinoids segment accounted for the largest share in 2019. Retinoids are most effective for moderate to severe acne as it unblocks pores, allowing topical creams and gels to work better. Moreover, retinoids decrease post-inflammatory hyperpigmentation, while simultaneously preventing formation of any new acne on the skin. However, the salicylic acid segment is expected to grow at the highest CAGR of from 2020 to 2027.
On the basis of type, presently, the prescription medicine segment is the revenue generating segment in the market. Prescription acne products such as antibiotics are usually combined with benzoyl peroxide or a topical retinoid that makes up for an effective combination, which drives the prescription acne medication market during the forecast period.
On the other hand, over-the-counter medicine segment is anticipated to record a CAGR of 3.20% during the forecast period, owing to rise in preference of patient population to use over-the-counter (OTC) products as they are convenient to purchase and in expensive in nature, which propels the acne medication market growth.
North America accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2020 to 2027, owing to numerous developments related to acne therapeutics.
However, Asia-Pacific is expected to register highest CAGR during the forecast period, owing to increase in number of product launches, high demand for acne therapeutics, and surge in healthcare expenditure as well as growth in awareness about new developed therapeutics that can replace conventional acne treatment in this region.
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The global acne medication market is segmented into therapeutic class, formulation, type, acne type, distribution channel, and region. By therapeutic class, the market is divided into retinoids, antibiotics, salicylic acid, benzoyl peroxide, and others.
The retinoids segment is further classified into topical retinoid & combination retinoid and oral retinoid (is otretinoin). Moreover, the antibiotics segment is further sub-segmented into topical antibiotics & combination antibiotics and oral antibiotics.On the basis of formulation, the market is bifurcated into topical medication and oral medication.
By type, it is divided into prescription medicine and over-the-counter (OTC) medicine. By acne type, it is fragmented into non-inflammatory and inflammatory acne.
By distribution channel, it is classified into retail Store, pharmacy & drug store, and e-commerce. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings Of The Study
• The study provides an in-depth analysis of the global acne medication market with current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets.
• Comprehensive analysis of factors that drive and restrict the acne medication market growth is provided.
• Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
• Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the acne medication market.
The report provides some of the key players operating in the market include Almirall SA.,Bausch Health Companies Inc.,GlaxoSmithKline Plc (GSK), Johnson & Johnson, Galderma S.A, Mayne Pharma Group Limited, Mylan N.V., Pfizer Inc., Sun Pharmaceutical Industries Limited, and Teva Pharmaceutical Industries Ltd
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