Dermatology OTC Medications Market Growth, Industry Trends, Size, Key Drivers, Top Players And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Dermatology OTC Medications Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The dermatology otc medications market size has grown steadily in recent years. It will grow from $15.32 billion in 2023 to $15.96 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to regulatory changes, demand for convenience, influence of skincare trends, consumer-driven demand, marketing and advertising.

The dermatology otc medications market size is expected to see steady growth in the next few years. It will grow to $19.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising skin health awareness, global aging population, environmental factors, sustainability and clean beauty, telemedicine and remote consultation. Major trends in the forecast period include niche condition-specific products, gender-neutral skincare, multi-functional products, microbiome-friendly skincare.

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Key Market Players:

Major companies operating in the dermatology otc medications market report are Pfizer Inc., Johnson & Johnson, AbbVie Inc., Bayer AG, Novartis AG, Bristol Myers Squibb Co, GlaxoSmithKline Plc, Acella Pharmaceuticals LLC, Eli Lilly and Company, Amgen Inc., Allergan plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Inc., Perrigo Company PLC, Galderma S.A., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Lupin Limited, LEO Pharma A/S, Almirall S.A., Concert Pharmaceuticals, Arcutis Biotherapeutics, Dermavant Sciences, Roivant Sciences Inc

Market Drivers:

The increase in skin abnormalities is expected to propel the growth of the dermatology OTC medication market going forward. A skin abnormality refers to a skin lesion or strange appearance of the skin. In dermatology, over-the-counter drugs are used to treat skin abnormalities and normalize the skin. The demand for over-the-counter dermatology medications is rising because of increased treatment requirements for skin abnormalities, including psoriasis. For instance, in August 2021, according to the Centers for Disease Control (CDC), a US federal government agency for the prevention and control of diseases, more than 7.5 million people in the USA and over 125 million people globally suffered from psoriasis, one of the most prevalent chronic cutaneous dermatitis. Therefore, the increase in skin abnormalities is driving the growth of the dermatology OTC medication market.

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The dermatology otc medications market covered in this report is segmented -

1) By Type: Tablets And Capsules, Oils Gels, Creams And Ointments, Other Types
2) By Indication: Dermatitis, Acne, Psoriasis, Skin Bleaching, Anti-Fungal, Wart Remover, Other Indications
3) By Route Of Administration: Topical, Oral
4) By Distribution Channel: Online Distribution, Offline Distribution

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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