U.S. Dermatologicals Market - Why Research Study Shows Robust Growth Till Upcoming Decade?

Allied Market Research (AMR) recently published a market research report, titled, "Dermatologicals Market by Disease (Acne, Dermatitis, Psoriasis, Skin Cancer, Rosacea, Alopecia, and Others), Type (Prescription-based Drugs, and Over-the-Counter Drugs), and Route of Administration (Topical Administration, Oral Administration, and Parenteral Administration): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global dermatologicals industry was accounted for $19.97 billion in 2020, and is expected to reach $59.30 billion by 2030, growing at a CAGR of 11.5% from 2021 to 2030.

Factors driving the growth of the global skin care products market include increasing use of skin care products, advancement in R&D activities in the pharmaceutical industry, and increasing demand for skin care products. In addition, the increase in skin diseases such as acne, rosacea, and atopic dermatitis is contributing to the growth of the global skin care product market. Skin diseases are ranked as the fourth leading cause of human diseases, which may increase the demand for dermatological products, thus driving market growth.

♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.alliedmarketresearch.com/request-sample/3805

Major market players -
AbbVie Inc. (Allergan PLC).
Galderma
GlaxoSmithKline Plc.
Novartis AG
Leo Pharma A/S
Amgen Inc.
Johnson & Johnson Services Inc
Pfizer Inc.
Organon & Co (Merck)
Sun Pharmaceutical Industries Limited.

COVID-19 scenario -
• During the COVID-19 pandemic, several dermatological clinics were closed due to strict regulations regarding social gathering and social distancing.
• Moreover, the majority of the professional healthcare workers were diverted to treat Covid-19 patients.

Drivers, barriers and opportunities -

The increase in the prevalence of skin diseases, awareness about skin diseases among individuals, and the rate of adoption of skin products have fueled the growth of the global skin products market. However, there are alternatives to acne treatment that are hindering market growth. On the contrary, the development of the pharmaceutical industry and the increase in medical expenses are expected to open up new opportunities for sellers in the future.

♦ 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/3805

North America has won the largest share of the skin products market in 2020 and is expected to continue to dominate the forecast period, due to the increase in acne, the acceptance rate for dermatological products and the strong presence of the main players. However, Asia-Pacific is expected to register the highest CAGR of 12.3% from 2021 to 2030, due to the increase in the prevalence of skin diseases, awareness about the use of dermatological drugs, rising healthcare costs and increasing cosmetic products.

The Impact of Covid-19 on the Dermatology Product Market (Pre and Post Analysis)

The COVID-19 outbreak is expected to have a positive impact on the growth of the global leather goods market. The COVID-19 pandemic has disrupted healthcare systems around the world. The practice of dermatology is greatly affected by the COVID-19 pandemic. Many hospitals and clinics have been renovated to increase their hospital capacity for patients diagnosed with COVID-19. The implementation of the lockdown, due to the outbreak of COVID-19, led to a decrease in the number of patient visits for treatment during this disease. However, the practice of tele dermatology is recommended in the current situation. In addition, various skin diseases such as urticarial, erythematous, atopic dermatitis, acne, rosacea, and purpuric are observed in patients suffering from COVID-19.

Moreover, rise in disposable income and development of the pharmaceutical sector for manufacturing of dermatologicals are anticipated to drive growth of the dermatologicals market. In addition, expansion of many clinical studies on various types of products to evaluate their safety and efficacy propels the growth of the market. For instance, in November 2021, AbbVie, a pharmaceutical company, announced the positive result from the phase 3 SELECT-PsA 1 and SELECT-PsA 2 trails to analyze the efficiency of upadacitinib in patient suffering from psoriatic arthritis and axial involvement. The result shows that patient with psoriatic arthritis demonstrate greater clinical response to upadacitinib, as compare to patient with axial involvement.

♦ 𝐁𝐮𝐲 𝐍𝐨𝐰:
https://www.alliedmarketresearch.com/checkout-final/1032a7186ab963bbfe13df23a054eef1

Rise in number of approvals for dermatological products and increase in number of pharmaceutical manufacturing companies are the key factors that further boost growth of the market. In addition, surge in demand for skin care products propel the growth of the market.

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