Global Dermatological Therapeutics Market Company Share, Industry Size, Strategies and Forecast to 2030

The Global Dermatological Therapeutics Market is estimated to record a CAGR of 7.54% in terms of revenue during the forecast period, 2019-2028.
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Dermatological therapeutics entails the prevention and treatment of diseases related to hair, skin, oral cavity, nails, and genitals. It involves a vast range of drug classes and diseases. Although there are several routes of administration, the prominent one is topical, followed by oral and others.

Surging Skin Diseases across the Globe impacts Market Growth
Skin diseases contribute significantly to the growing global disease burden. The major factors are evaluated to be aging, genetics, and the environment. The most common among these include scabies, eczema, warts, pyoderma, etc. A 2014 publication of the Journal of Investigative Dermatology stated that the diseases related to skin affect almost 900 million people in the world. According to the stats provided by the Centre for Disease Control and Prevention (CDC), around 14.3% of the children aged between 0 to 4 years had skin allergies in 2018. The American Academy of Dermatology Association determines acne as the most common skin condition in the US. It also states that approx. 7.5 million people in the US have psoriasis.
Further, factors contributing to the significant number of skin diseases in countries like India, are deduced to be a low level of sanitation and rural residence of the majority. The developed countries of Europe are also encompassed by a considerable number of diseases associated with the skin. Such alarming rates are estimated to contribute significantly to market growth.
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Atopic Dermatitis is set to be the Most Prominent Application by 2028
Atopic dermatitis (eczema) is an inflammatory skin disease that renders the skin itchy and red. It is usually common in children, but not limited to them. The American College of Allergy, Asthma & Immunology states that 30% of patients experience symptoms of atopic dermatitis by the age of five, and almost 60% of patients may get symptoms by the age of one. The global prevalence of the disease stands at 25% in the case of children and 10% in the case of young adults as per the World Allergy Organization 2020. According to the National Clinical Trial Registry (NCT), about 130 clinical trials are going on across the world, for treating atopic dermatitis.

Asia Pacific is determined to record the highest CAGR by 2028
The region of Asia Pacific is evaluated to be a conducive market with surging patient pool, growing disposable incomes, and rising awareness. These factors are estimated to be instrumental in contributing to market growth. In China, according to the World Population Ageing 2019 report, the population aged above 65 years is projected to reach 246.98 million by 2030. An open survey with 500 male respondents in South Korea determined that acne accounted for 44% of the leading skin concerns in 2019.
The major companies operating in the global market include, Amgen Inc, AbbVie Inc, Galderma, Novartis AG, etc. The competition in the market is based on product innovation. They are targeting long-term treatment options and efficacy through their product portfolio. Further, the threat of new entrants is determined to be low to moderate.

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