Prescription Dermatology Therapeutics Market Size, Share, Growth, Opportunities & Trend Analysis – Product Type (Psoriasis Drugs, Skin Cancer Drugs, Acne And Rosacea Drugs, Fungal Infection Drugs, Dermatitis And Seborrhea Drugs) Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) Application (Alopecia, Herpes, Psoriasis, Rosacea, Atopic Dermatitis, Other Applications) Drug Class (Anti-Infectives, Corticosteroids, Anti-Acne, Calcineurin Inhibitors, Retinoids, Other Drug Classes) – Regional Stance, Competitive Tactics, And Forecast To 2031.
Report Highlights:
According To Market Data Library, The Global Prescription Dermatology Therapeutics Market Reached US$ 41.2 Million In Terms Of Revenue In 2022 And Is Forecast To Be Valued At US$ 83.05 Million In 2031. Between 2023 And 2031, Market Revenue Is Expected To Register A Compound Annual Growth Rate (CAGR) Of 8.1%, And Factors Driving This Projected Growth Are Provided In Much Detail Along With Tables, Charts, Infographics, As Well As Supporting Information And Forecasts In The Report.
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Prescription Dermatology Therapeutics Market Analysis & Insights
Dermatology, A Medical Specialty Focused On The Treatment Of Skin, Nails, Hair, And Associated Diseases, Employs Medicines And Therapeutic Solutions Tailored To Specific Regions And Countries. The Prevalence Of Infectious Disorders Affecting The Skin, Nails, And Hair Has Been On The Rise, Leading To A Surge In Patient Volume Seeking Dermatological Care. In Response, There Is An Increasing Demand For Cost-Effective And Highly Effective Homeopathy Dermatology Therapeutics. This Trend Is Further Fueled By The Growing Disposable Income Of Individuals Worldwide And A Heightened Emphasis On Physical Appearance. Moreover, Pharmaceutical Industries Are Actively Developing New Dermatological Treatment Solutions By Incorporating Unique Organic Components, Particularly Biologics, Due To Their Rising Popularity.
Prescription Dermatology Therapeutics Market Dynamics
“Growing Concerns For Skin Diseases”
The Prescription Dermatology Therapeutics Market Witnessed A Significant Growth Rate Owing To High Incidence And An Increase In The Prevalence Rate Of Infectious And Chronic Dermatological Disorders, And Novel Drug Development Across The World. Skin Is The Largest And Most Exposed Organ Body Part To A Wide Variety Of Toxins And Microbes. Lengthy Exposure Of Skin To Toxins Effects In Various Kinds Of Skin Disorders. Skin Disease Is One Of The Leading Causes Of Non-Fatal Disease Burden Globally, Affecting Millions Of People. Aging, Trauma, And Environmental And Genetic Factors Can Result In The Development Of Skin Diseases, Which Are Impelling The Demand For Dermatology Treatment Worldwide. Study Of The World Health Organization (WHO), Skin Diseases Are Among The Most Common Human Health Disorders And Affect Millions Of People Across The World. Some Of The Most Common Types Of Skin Diseases Reported Worldwide Are Pyoderma, Scabies, Acne, Eczema, And Warts.
“Rising Prevalence Of Psoriasis”
Psoriasis Is A Chronic Autoimmune Skin Disease That Speeds Up The Growth Cycle Of Skin Cells. It Causes Patches Of Thick Red Skin And Silvery Scales On The Elbows, Face, Palms, Knees, Scalp, Lower Back, And Soles Of Feet. The Most Common Type Of Psoriasis Is Plaque Psoriasis, And Misguided T-Cell Attacks On The Skin Cause It. The Rising Prevalence Of Psoriasis, The Increasing Number Of Clinical Trials For Psoriasis Drug Development, And The Rising Developments By Major Market Players Are Expected To Boost The Segment’s Growth. The Rising Prevalence Of Psoriasis Is A Major Factor Driving The Segment. For Instance, According To The Data Updated By The National Psoriasis Foundation In December 2022, Around 125 Million People Worldwide Had Psoriasis In 2022, Almost Equal To 2-3% Of The Total Population. The Source Also Stated That More Than 8 Million Americans Had Psoriasis In 2022. Thus, The High Prevalence Of Psoriasis Is Expected To Boost The Adoption Of Dermatological Therapeutics. As Psoriasis Is Often Associated With The Elderly, The Rising Geriatric Population Is Also Expected To Drive Segmental Growth.
“Stringent Regulatory Requirements”
The Development And Approval Process For Prescription Dermatology Therapeutics Involve Rigorous Regulatory Scrutiny, Including Extensive Clinical Trials And Safety Assessments. Compliance With These Regulations Can Be Time-Consuming And Costly, Hindering The Speed Of Bringing New Therapies To Market.
“Expansion Of Telemedicine And E-Health”
The Widespread Adoption Of Telemedicine And E-Health Platforms Presents Opportunities For Virtual Consultations, Remote Monitoring, And Digital Treatment Management In Dermatology. This Allows For Greater Access To Specialized Care, Especially In Underserved Areas, And Facilitates The Delivery Of Prescription Dermatology Therapeutics.
Regional Insights:
During The Projected Period, The UK Will Continue To Be The Most Lucrative Market For Prescription Dermatology. The Asia Pacific Region Is The Largest Market For Prescription Dermatology With A Large Consumer Base.
The Asia Pacific Region Is Anticipated To Expand At The Fastest CAGR From 2022 To 2030. Countries Like Germany, France, And The United Kingdom Also Support The Provision Of Prescription Dermatology Therapeutics Market. North America Also Has A Mature Prescription Dermatology Therapeutics Market.
Key Companies And Competitive Landscape:
Companies Included In The Report Are:
- AbbVie, Inc.
- Janssen Biotech, Inc.
- Novartis AG
- Amgen, Inc.
- Celgene Corporation
- Pfizer, Inc.
- LEO Pharma A/S
- Eli Lilly And Company
- Bausch Health Companies, Inc.
- Sun Pharmaceuticals Ltd.
- Aclaris Therapeutics, Inc.
- Aurobindo Pharma Ltd.
- Allergan Inc.
- Bayer AG
- Bristol-Myers Squibb Company
- Hoffmann-La Roche Ltd.
- Genentech, Inc.
- GlaxoSmithKline Plc
- Merck & Company, And Inc.
Report Segmentation:
The Market Report Is Segmented According To Product Type, Distribution Channel, Application, Drug Class And Region As Shown Below:
Product Type
- Psoriasis Drugs
- Skin Cancer Drugs
- Acne And Rosacea Drugs
- Fungal Infection Drugs
- Dermatitis And Seborrhea Drugs
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Drug Class
- Anti-Infectives
- Corticosteroids
- Anti-Acne
- Calcineurin Inhibitors
- Retinoids
- Other Drug Classes
Application
- Alopecia
- Herpes
- Psoriasis
- Rosacea
- Atopic Dermatitis
- Other Applications
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Developments And Strategies:
In September 2022, The US FDA Approved Sotyktu (Deucravacitinib), An Oral Treatment For Adults With Moderate-To-Severe Plaque Psoriasis Who Are Candidates For Systemic Therapy Or Phototherapy.
In July 2022, The FDA Approved Roflumilast Cream (ZORYVE) 0.3%, A Topical Phosphodiesterase-4 (PDE4) Inhibitor, As A Treatment For Plaque Psoriasis In Patients Aged 12 Years And Above.
In January 2022, Abbvie Announced That The FDA Approved Rinvoq To Treat People Aged 12 Years And Older With Refractory, Moderate-To-Severe Atopic Dermatitis Who Do Not Respond To Or Cannot Take Previous Oral Or Injectable Systemic Medications.
COVID-19 IMPACT ON MARKET
COVID-19 has impacted the Prescription Dermatology Therapeutics market in a number of ways. Firstly, due to the global pandemic, leading to lockdowns and other restrictions, the demand for toluene that are intended for home use has increased drastically. Moreover, due to the lockdowns, transportation of goods has been adversely affected. This has led to a decrease in production capacity, due to which the availability of certain models of toluene has reduced. Consequently, this has hampered the effective and efficient use of Prescription Dermatology Therapeutics in medical settings.
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