Published: Aug-2021 | Format: PDF | Market Research Store | Number of pages: 180 | Code: MRS - 828622
According to the report published by the Market Research Store, global demand for the acne drug market was estimated at approximately USD 12,300.8 Million in 2020 and is expected to generate revenue of around USD 13,100.7 Million by the end of 2026, growing at a CAGR of around 3.6% between 2021 and 2026.
Acne affects more than 90 percent of the world's population at some point in their lives. This includes all levels of acne, from mild, infrequent breakouts to severe conditions. Twenty percent of the 60 million suffer from acne severe enough to cause skin scarring. Acne medications are medications that are prescribed to treat acne. Prescription and over-the-counter medications such as retinoids, isotretinoin, antibiotics, salicylic acid, benzoyl peroxide, and oral contraceptives fall under acne medications. The acne drug market consists of prescription drugs like onexton, solodyn, retin. A micro and non-prescription drugs like cleanser, retainers, lotions, etc. are used to treat skin diseases. The best treatments limit bacterial growth, promote skin cell shedding to unclog pores, use a newer treatment that blocks male hormones in the skin.
The rise in the prevalence of acne diseases is a major factor driving the growth of the acne medication market. Furthermore, other factors driving the market include an unhealthy urban lifestyle and the presence of potent acne medications in the pipeline. However, the presence of alternative treatments and the side effects associated with the use of acne medications impede the market growth. In contrast, the development of effective medications and high market potential in emerging economies is expected to provide growth opportunities for the market.
Furthermore, rapid economic growth has resulted in a significant increase in the disposable incomes of middle-class people. People are willing to spend more money on their facial appearance as their income rises. As a result, the market for acne therapeutics is expected to expand rapidly during the forecast period.
|REPORT SNAPSHOT & REPORTING DATA TIMEFRAME|
|Historical Date ( Actual Data)||2016 - 2020|
|Base Year Data||2020|
|Current Year Data||2021|
|Projected Data||2021 - 2026|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||product type, application, region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; Middle East & Africa|
|Country Scope||U.S.; Canada; Mexico; Germany; France; U.K.; China; Japan; South Korea; Singapore; Malaysia; Brazil; Saudi Arabia|
|Customization scope||Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.|
|Pricing and purchase options||Avail customized purchase options to meet your exact research needs. Explore purchase options|
The acne drug market is divided into four categories: formulation type, therapeutic class, acne type, and distribution channel. The market is divided into therapeutic segments such as retinoids, antibiotics, salicylic acid, and benzoyl peroxide, and others. The therapeutic segment of retinoids is further subdivided into the topical, combination, and oral retinoid. The market is divided into two segments based on formulation: topical medication and oral medication. It is classified into two types: over-the-counter and prescription medication. Acne is divided into inflammatory and non-inflammatory acne, according to acne segmentation. By distribution channel, it is distributed to into retail store, pharmacy & drug store, and e-commerce.
North America dominates the acne medication market as a result of an increase in concern for facial aesthetics in the American region, as well as increased awareness and availability of better acne treatment options, as well as an increase in spending on facial appearances.
It is expected to grow at a faster CAGR in the Asia-Pacific region during the forecast period. This is due to a greater understanding of treatment options. Increased disposable income, rising acne disorder prevalence, and the availability of acne treatment options concerns about facial beauty among the population in countries like China and India, as well as an increase in unhealthy eating habits, are driving the growth of the industry.
To broaden their product and service offerings, expand their global footprint, and increase their market share, the leading companies have used a variety of strategies. The majority of companies in the global acne drug market used new product launches as their primary strategy, allowing them to expand their product offerings while maintaining a competitive edge in the global acne drug market.
Major players in the acne drugs market are Allergan, Teva Pharmaceutical Industries Ltd., Valeant Pharmaceutical International Inc., Galderma S.A., and Johnson & Johnson Services, Inc.
For instance, Teva Pharmaceutical Industries Ltd. also known as Teva Pharmaceuticals is a global pharmaceutical company that specializes primarily in generic drugs, but other business interests include active pharmaceutical ingredients. It is the largest generic drug manufacturer in the world and one of the 15 largest pharmaceutical companies worldwide. In 2015, the company announced it would collaborate with Heptares Therapeutics with its work on small-molecule calcitonin gene-related peptide antagonists for migraine treatment, with the deal generating up to $410 million.
The rise in economic growth, increase in prevalence, and development of new technologies in the drug market are key factors of acne drug market expansion.
The global demand for the acne drug market was estimated at approximately USD 12,300.8 Million in 2020 and is expected to generate revenue of around USD 13,100.7 Million by the end of 2026, growing at a CAGR of around 3.6% between 2021 and 2026.
Major players in the acne drugs market are Allergan, Teva Pharmaceutical Industries Ltd. Valeant Pharmaceutical International Inc., Galderma S.A., and Johnson & Johnson Services, Inc.