Dermatology Drugs Market Size, Share, Industry, Forecast and outlook (2024-2031)

Dermatology Drugs Market is segmented By Application (Atopic Dermatitis, Psoriasis, Acne, Alopecia, Herpes, Rosacea), By Drug-Class (Anti-Infectives, Anti-acne, Calcineurin Inhibitors, Retinoids, Corticosteroids, Other Drug Classes), By End-User (Hospitals, Dermatology Clinics, Cosmetic Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Dermatology Drugs Market Size

The Global Dermatology Drugs Market size was worth US$ 18,684.8 million in 2022 and is estimated to reach US$ 40,830.9 million by 2031, growing at a CAGR of 10.5% during the forecast period (2024-2031). Dermatology is a field of medicine that treats illnesses of the skin, hair, and nails, with the most prevalent ailments being psoriasis, eczema, and acne vulgaris.

Dermatology medicines are used to control and treat skin, nail, hair, and vaginal membrane illnesses. 

The key factors that are driving the market of dermatological drugs include the increasing geriatric population, rising awareness of skin problems, soaring people's spending power, and huge reserves of dermatology drugs.

Increasing demand for innovative drugs & product approvals in developing new drugs will contribute to the market growth. For instance, The FDA has accepted a new drug application for Novan's berdazimer gel for the treatment of molluscum contagiosum. Berdazimer gel will be the first FDA-approved prescription treatment for molluscum contagiosum, a viral skin infection that affects approximately 6 million people, mostly children, each year if FDA approved.

Dermatology Drugs Market Summary

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Dermatology Drugs Market Dynamics

Rise In The Prevalence Of Dermatologcial Disorders 

Rise in the prevalence of dermatological disorders is the key driver of the dermatlogy drugs market as growing awareness about skin diseases. For instance According to American academy of Dermatology Psoriasis and Acne are the most common skin condition in united states where  7.5 million Approximately 7.5 million people in the United States have psoriasis.

Psoriasis affects people of all ages, although it is more common in adults, with the maximum prevalence between the ages of 45 and 64.Around 25-30% of persons with psoriasis have joint inflammation, which causes arthritis symptoms. This is known as psoriatic arthritis.

Approximately 80% of persons with psoriasis have mild to moderate illness, whereas 20% have moderate to severe psoriasis that affects more than 5% of the body surface area.Plaque psoriasis is the most prevalent kind of psoriasis, involving around 80 to 90 percent of psoriasis sufferers. It is distinguished by elevated, reddish areas of skin coated with silvery-white scale.

Rise of Side Effects About Improper Use Of Products

Because of the increase in adverse effects associated with incorrect product usage, the market growth of dermatological medications would be hampered. As a result of inadequate diet, pollution, and unhealthy behaviours such as smoking, drinking, and so on, emerging nations account for a sizable proportion of the world's population suffering from dermatological illnesses. Lack of information about skin concerns, along with a higher rate of illiteracy in low- and middle-income countries, has resulted in lower uptake of dermatological products.

Dermatology Drugs Market Segment Analysis

The global Dermatology drugs market is segmented based on Application , Drug class and End user.

The Psoriasis Application Segment will be Dominated By Market Players During the Forecast Period

Psoriasis application sector (47.6%) is predicted to dominate throughout the projection period as the immune system incorrectly assaults healthy skin cells, resulting in psoriasis. Psoriasis is not a contagious illness. The condition causes swollen fingers and toes, foot discomfort, lower back pain, nail alterations, and eye irritation. Psoriasis can be caused by stress, skin damage, infections, certain medications, and frequent drinking. Although it affects people of all ages, psoriasis is more frequent in adults, increasing global need for dermatological medications.

Dermatology Drugs Market Geographical Share

North America is the Dominating Region During The Forecast Period.

North America has been a dominant region  for Dermatology drugs  market due to the Because of the continent's greater prevalence of skin problems and illnesses, North America accounted for the majority of the market share of 38.7%. According to Dermatolgoy drugs data individuals aged 18 to 29 made the greatest share of dermatologist visits (16.9%), followed by those aged 50 to 64 (15.73%), and those aged 30 to 49 (12.91%). 

Furthermore, the launch of new drugs and the presence of big industry-important players are driving market growth. The biggest drivers to market growth in the area are the United States, Canada, and Mexico. Because large corporations invest much in research and development to create new drugs, the European Union ranks second on the market. 

Dermatology Drugs Companies

The major global players include Leo Pharma, Allergan, Amgen GI Dermatics, Sanofi, Merck & Co, Pfizer, AbbVie, Bausch Health, and Novartis.

COVID-19 Impact on Dermatology Drugs Market

Regarding handling of COVID-19 patients with dermatological disorders, a multidisciplinary approach is appropriate. Psychosocial issues include the effects of quarantine, restrictive measures, and substantial life changes. To treat the fundamental cause of stress-induced cutaneous symptoms, providers such as psychiatrists and therapists are required. In more severe situations, coordinated care with pulmonologists, intensivists, and cardiologists can offer a complete treatment strategy to clear infections and decrease risk factors.

Russia-Ukraine Conflict Analysis

During Russia Ukraine war Dermatology drugs had a huge impact on many factors like Regulatory changes: During times of political instability, regulatory changes and policy changes had occurred and   Changes in national regulations, licensing requirements and import/export restrictions had the  impact on  distribution and availability of dermatological medicines in affected areas.  

Key Developments 

• In March 2023, LEO Pharma and ICON partnered for clinical trial execution in dermatology. LEO Pharma and ICON announced an agreement to increase clinical trial execution in medical dermatology. This alliance, to be known as PACE, is intended to help LEO Pharma achieve its goal of becoming one of the most successful and efficient clinical portfolio execution companies in the business.
• It is also projected to enhance the lives of dermatological patients by offering access to breakthrough clinical trials and the introduction of new treatments. In a personalized and adaptable hybrid approach, the cooperation will utilize wholly outsourced and functional outsourcing methods.
• In March 2023, Eli Lilly forays into dermatological space with the launch of psoriasis drug firm Eli Lilly on Tuesday said it has forayed into the dermatological space in the country with the launch of a product to treat moderate-to-severe plaque psoriasis. The company has launched Copellor in the market after getting approval from the Drug Controller General of India (DCGI).
• In September 2022, SotyktuTM (deucravacitinib), an oral treatment for adults with moderate-to-severe plaque psoriasis, was approved by the US Food and Drug Administration. Bristol-Myers Squibb announced today that the FDA has approved SotyktuTM (deucravacitinib), a first-in-class, oral, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor, for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.  Sotyktu should not be used in conjunction with other strong immunosuppressants.

Why Purchase the Report?

• To visualize the global dermatology drugs market segmentation based on the application, drug class, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of global dermatology drugs market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global dermatology drugs market report would provide approximately 92 tables, 108 figures and 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies