Press release
AI-powered algorithms to drive the Acne Treatment Market at a CAGR of 4.4%
As assessed by Persistence Market Research, therapeutic treatment is expected to hold a largest market value of US$ 5.4 Bn by 2023. Overall, acne treatment market sales account for approximately 6.5% revenue share in the global skincare market, which was valued at around US$ 100.1 Bn at the end of 2022.
The acne treatment market includes a variety of products and procedures designed to improve the appearance of acne-prone skin and prevent future breakouts. These products and procedures include over-the-counter (OTC) and prescription medications, as well as a range of aesthetic procedures, such as laser treatments and chemical peels.
The global acne treatment market is expected to grow significantly over the next few years, driven by factors such as the increasing prevalence of acne, the growing awareness of the condition, and the availability of new and improved treatments. The market is also being fueled by the increasing demand for aesthetic procedures and the growing adoption of advanced technologies, such as laser treatments and chemical peels.
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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.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the acne Treatment market in its latest study, presenting historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
The research study is based on the product (therapeutic treatment [antibiotics, retinoid therapy, hormonal drugs, anti-inflammatory drugs, and chemical peels] and devices [laser devices and radio frequency therapy]), route of administration (topical and oral), acne type (inflammatory and non-Inflammatory acne), distribution channel (institutional sales [hospitals and speciality clinics) and retail sales [retail pharmacies, drug stores, and online sales]), across seven key regions of the world.
Read More:
https://www.medgadget.com/2022/12/global-acne-treatment-market-is-expected-to-reach-us-10-8-bn-by-the-end-of-2031-with-sales-revenue-expected-to-register-6-cagr-pmr.html
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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