Press release
Remote diagnostic platforms to simulate the Dermatology Biologics Market at a CAGR of 6.6%
Revenue from dermatology biologics accounted for 29.2% share of the global dermatology market in 2021. Demand for dermatologic biologics is increasing with the rise in the number of biologics launched in recent years.
The global dermatology biologics market is expected to grow significantly in the coming years due to the increasing prevalence of skin disorders, as well as the growing demand for more effective and targeted treatments. The market is also being driven by the development of new and innovative biologics that have improved efficacy and safety profiles.
One of the key drivers of the dermatology biologics market is the increasing prevalence of skin disorders. According to the World Health Organization, skin diseases are the fourth most common type of disease worldwide, and they affect people of all ages. The growing prevalence of skin disorders is likely to increase demand for biologics, as these medications can provide more targeted and effective treatment options.
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Dermatology Biologics Market: Drivers and Restraint
Dermatology Biologics market will witness promising growth due to rising prevalence of chronic diseases. Introduction of various innovative products in the form of dermatology biologics and drug-releasing implants, as a result of research and development and continuous efforts to invent treatment alternatives, are also contributing to market growth.
Efficiency and target specific approach of dermatology biologics and high adoption rate of dermatology biologics in psoriasis treatment are the other driving factors for the market growth.
However, the availability of a limited number of dermatology biologics, stringent regulatory norms associated with the approval of dermatology biologics, severe side effects of dermatology biologics and expensive nature of dermatology biologics may hamper the dermatology biologics market growth during the forecast period.
Dermatology Biologics Market: Segmentation
The global market for Dermatology Biologics can be segmented on the basis of product type, indication, distribution channel and geography:
Drug Type
Monoclonal antibodies
Fusion antibody proteins
Recombinant human cytokines and growth factors
Based on Indication
Psoriasis
Atopic dermatitis
Autoimmune bullous diseases
Blistering diseases
Other
Based on Distribution Channel
Hospitals
Retail Pharmacies
E-commerce Pharmacies
Based on Geography
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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Dermatology Biologics Market: Overview
The global dermatology biologics market is witnessing rapid growth due to the emergence of innovative dermatology biologics in recent years. The FDA recently approved Janssen's guselkumab (Tremfya) for the treatment of plaque psoriasis. The overall market is expected to report promising growth as the epidemiologic studies have revealed that prevalence of psoriasis in the UK is estimated to be at 1.3%-2.2%. Promising revenue growth is expected in the dermatology biologics market during the forecast period due to the introduction of novel dermatology biologics products in near future.
Dermatology Biologics Market: Region-wise Outlook
On the basis of geography, the global Dermatology Biologics market is segmented into six key regions North America, Latin America, Europe, Asia Pacific excluding China and Middle East & Africa. North America followed by Europe will continue to dominate the global dermatology biologics market in terms of revenue owing to rising technological advancements in healthcare and systematic drug review processes.
The Europe dermatology biologics market is driven by growing funding for the development of dermatology biologics available through public-private partnerships, availability of high-quality research infrastructure and innovative strategies being developed by drug makers. Furthermore, rising disease incidences in emerging countries are expected to prove to be favorable for the growth of the dermatology biologics market.
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