The global “dermatology drugs market” size is expected to USD 63.99 billion by 2027, exhibiting a CAGR of 12.9% during the forecast period. The increasing prevalence of numerous skin diseases and disorders among the population is expected to spur opportunities for the market, states Fortune Business Insights, in a report, titled “Dermatology Drugs Market Size, Share Industry Analysis, By Application (Acne, Psoriasis, Atopic Dermatitis, and Others), By Route of Administration (Oral, Parenteral, and Topical) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The market size stood at USD 36.82 billion in 2019.
The occurrence of coronavirus has exerted massive economic stress on sectors in various countries. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are perpetually working on our reports to help uplift businesses in this crucial time. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
Get Request a Sample Copy of the Dermatology Drugs Report:
Major Dermatology Drugs Market Key players covered in the report include:
- Allergan (Dublin, Ireland)
- Botanix Dermatology Drugs (NorthBridge, Australia)
- Pfizer Inc. (New York, U.S)
- Galderma S.A (Lausanne, Switzerland)
- Bausch Health Companies Inc. (Bridgewater, U.S)
- Novartis (Switzerland, Europe)
- GlaxoSmithKline Plc. (London, U.K)
- Valeant Dermatology Drugs International Inc. (New Jersey, U.S)
- Johnson Johnson (New Jersey, U.S)
- Other Players
Dermatology Drugs Market Analysis 2021:
Surging Patient Population to Back Growth
The growing number of patients suffering from acne, vitiligo, and dermatitis are expected to spur opportunities for market growth. According to the American Association of Dermatology in 2018, around 50 million people in the U.S had acne. The growing demand for effective products to cure skin infections and disorders coupled with high awareness among the young population will contribute positively to the growth of the market. According to Australian research, more than 4% of the population are affected by acne vulgaris in long term. The growing inclination towards skin health and care among millennials can have an excellent impact on the market growth in the forthcoming years. The increasing RD investments by major companies owing to heavy demand for therapeutically effectual and cost-effective drugs will encourage the healthy growth of the market in the foreseeable future.