Digital platform-mediated ecosystem to accelerate the Acne Treatment Market at a CAGR of 5.9%

As per Persistence Market Research's latest revised industry analysis, the global acne treatment market was valued at over US$ 5.8 Bn in 2020, and is expected to exhibit a CAGR of close to 6% over the forecast period (2022-2031).

In the United States, acne affects approximately 50 million people annually. Increasing rate of skin diseases is one of the major factors boosting market growth globally. Acne is most commonly observed among teenagers, but can also be observed in people across all age groups.

According to the American Academy of Dermatology Association, over 85% of the population between the ages 12 and 24 have suffered from minor acne at least once or twice, and this may continue into individuals in their '30s and '40s

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Significant prevalence of acne has led to increased awareness of considering skin treatment. This, in turn, is expected to fuel demand for acne treatment products. As new drugs and treatments are required to replace older methods such as antibiotics, acne research & development generates avenues and opportunities for players in the market. As a result, various industry players are receiving approvals from regulatory authorities.

Some of the recent approvals include AKLIEF (trifarotene) 0.005% cream (October 2019, Galderma SA), ARAZLO (tazarotene) Lotion, 0.045% (Bausch Health Companies Inc., December 2019), and ACZONE (DAPSONE) GEL (September 2019, Almirall S.A.). Thus, growing approvals support a positive outlook for continued healthy market growth.

Company Profile's:

Galderma S.A.
Lumenis Ltd
Alma Lasers, Sisram Medical Company
Cutera Inc.
Almirall, S.A
Johnson & Johnson Services Inc.
Bausch Health Companies Inc.
Teva Pharmaceutical Industries Ltd.
Stiefel Laboratories, a GSK Company
Candela Medical

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Key Takeaways from Market Study

By treatment, retinoid therapy to hold around 40% market value share, globally, primarily due to its effectiveness in controlling the spread of acne as compared to other products and reducing the formation of acne scars.

Based on route of administration, the topical route of administration is leading with over 60% of market share. Ease of application and greater availability of lotions, creams, and gels are positively driving demand for topical products.

Inflammatory acne is estimated to dominate the market by type. This segment accounted for approximately 53% share of the market. Significant scarring and pain associated with this type of acne is a key factor driving the segment.

Institutional sales dominate acne treatment with a market share of 52%. Growing number of dermatology clinics and rising preference toward office-based acne treatment procedures to achieve faster results have created a positive impact on the growth of the market.

By region, North America is set dominate the global acne treatment market with a value share of around 44%.

Europe is slated to be the second-largest leading region with a value share of 20% during the forecast period.

"Growing prevalence of acne, preference toward use of combination treatments, and new product launches & approvals are expected to drive market growth over the coming years," says an analyst of Persistence Market Research.

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Market Competition

New product launches and approvals, agreements, collaborations, and partnerships have emerged as the key growth strategy adopted by industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.

In January 2021, Eligo Biosciences SA and GlaxoSmithKline PLC entered into a research collaboration to develop gene therapies to treat or prevent the growth of normal acne.

In February 2020, Almirall S.A. entered into a licensing agreement with Paratek Pharmaceuticals, Inc. to expand Almirall's Seysara in the market in China.

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This release was published on openPR.