Dermatological Therapeutics Market Size will Grow from 2020 to 2029 at an Estimated CAGR of 9.6% | StraitsResearch

Dermatological Therapeutics Market Overview:

Dermatology is the specialization that deals with the treatment of conditions of the hair, skin, and nails. Dermatological therapeutics involves both clinical and surgical aspects. Generally, dermatologists prefer minimally invasive therapeutic procedures for treating skin disorders. Dermatological medicines can be available over-the-counter as well as on prescription, and many of the prescription dermatological medications are used for cosmetic applications. Drugs used to treat acne are the most common form of prescription dermatological drugs and also used for enhancing skin texture and color. Acne is the most prevalent skin condition, which affects around 50 million Americans every year, as per the American Academy of Dermatology.

The global dermatological therapeutics market is valued at USD 34,309 million in 2019 and expected to register a CAGR of 9.6% during the forecast period, 2020–2029.

The growth of pollutants in the environment, the increasing use of cosmetics, and the increasing prevalence of chronic diseases are all contributing to the rising prevalence of skin conditions, which in turn is accelerating the demand for dermatological therapeutics.

As per the U.S. National Library of Medicine and the American Hair Loss Association, nearly 50% of men experience some grade of hair fall by the age of 50. And as per the American Hair Loss Association, 95% of the hair loss in men is caused by androgenetic alopecia. The Association also reports that about 800,000 people are undergoing some sort of hair loss treatment around the globe.
The International Federation of Psoriasis Association estimates about 5.0% of the global population suffers from one or more forms of psoriasis. The disease affects about 7.5 million people in the U.S. alone, accounting for about 2.0% of the country’s population. In addition, about 100,000 new cases of psoriasis are recorded and reported every year.
As per the U.S. report Global Burden of Disease (GBD), acne Vulgaris affects almost 85% of young adults in the age group of 12–25. The incidence of acne vulgaris is observed to be increasing among adolescents due to various factors such as adolescence, puberty, genetics, race, nationality, socioeconomic status, diet, Western diet, dairy, whey protein, chocolate, glycemic index, drugs, smoking, and nicotine.

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The Major Players Covered in this Report: Allergen plc, Novartis, Sanofi, Dermira, Pfizer inc., GlaxoSmithKline Plc., Foamix pharmaceutical, Sun pharmaceutical, Mayne Pharma, Glenmark Pharmaceutical, Valeant pharmaceuticals, Galderma SA, AbbVie Inc., Amgen Inc., Eli Lilly, AstraZeneca, and Johnson and Johnson are some of the key players operating in the market, & More...

Dermatological Therapeutics Market Segmentation-
By Drug Class- Anti-infectives, Corticosteroids, Anti-acne, Calcineurin inhibitors, Retinoids, Others,
By Application- Alopecia, Herpes, Psoriasis, Rosacea, Atopic dermatitis, Acne vulgaris, Other applications

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Dermatological Therapeutics in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Dermatological Therapeutics market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Dermatological Therapeutics and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Dermatological Therapeutics. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Impact of COVID-19:
Dermatological product supply chains are struggling on a global scale due to the COVID-19 healthcare crisis. Disruptions caused due to the pandemic have increased the strain on dermatological products’ availability in the market. Unless restrictions are relaxed, manufacturing operations in key dermatological companies are expected to face a shortage of resources, which will negatively impact manufacturing as well as product sale in the dermatological therapeutics market.

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Rapid Product Development:
Rising awareness about skin diseases and their treatments is a key factor that drives the dermatological therapeutics market. Novel and advanced dermatology drug products, such as Suncros, a highly efficient product for all skin disorders launched by Sun pharmaceutical industries in 2016, have contributed largely to the market growth. Some such recent product developments include,

The introduction of fast-acting, U.S.FDA-approved JAK inhibitor drugs
The development of methods to stimulate hair growth by using human pluripotent stem cells
The development of Platelet Rich Plasma therapy
The introduction of a new drug SM04554, which stimulates hair growth specifically in men

Hairmax Laser Comb, Follinex Massager Comb, Lifemax Infrared Hair Brush, and Hair Growth Renewing Lasers are some of the advanced-technology products available in the market today. The pipeline of drug products for acne vulgaris has moved from small drug molecule therapeutics to biologics and peptides.

Allergan plc is in the process of developing ANT-1207, a topical botulinum toxin A, for the treatment of acne vulgaris, which is in the phase II development stage. This therapeutic drug has an anticholinergic effect and is under development for topical route administration in the treatment of acne vulgaris.
Helix Biomedix, Inc. is in the process of developing peptide-based molecules for the treatment of acne vulgaris.

Most of the companies possess specialized technologies for the development of acne vulgaris treatment.

Sol-Gel Technologies Ltd. introduced a technology known as sol-gel, in which silica forms a microcapsule shells on acne sites and releases drugs at the site of action. The drug substance that is added during the sol-gel reaction is encapsulated by forming a core-shell structure around it.
In May 2017, Foamix Ltd. announced positive results for a foam-based therapy FMX101 under phase III clinical studies for the treatment of moderate to severe acne vulgaris. In May 2019, the company filed a new drug application for this novel therapy.
AndroScience Corporation has demonstrated a therapeutic effect of ASC-J9 a cream in lowering lesion counts in moderate to severe acne.

Recent Developments:
In February 2019, Mayne Pharma Group launched the drug LEXETTE (halobetasol propionate) foam 0.05% in the U.S., which is indicated for the treatment of plaque psoriasis in adult patients. The U.S. FDA approval of the drug for three years of marketing will generate significant revenue in the psoriasis segment and drive the scope of the dermatological therapeutics market in the future.

In October 2019, Galderma Laboratories, L.P. received FDA approval for the product Aklief (trifarotene) Cream, which is used for the topical treatment of acne. AKLIEF Cream is supported by data from the two pivotal Phase 3 clinical trials.

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