The global dermatology drugs market size is expected to grow from $49.55 billion in 2021 to $54.54 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The dermatology drugs market is expected to reach $117.82 billion in 2026 at a CAGR of 21.2%.
What is the Global Dermatology Drugs Market?
The dermatology drugs market consists of sales of dermatology drugs by entities (organizations, sole traders and partnerships) that produce dermatology drugs to treat skin diseases. This industry includes establishments that produce drugs to treat diseases such as rosacea, dermatitis, hyperhidrosis, androgenic alopecia, acne drugs, microbial infections and other skin disorders.
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What drives the Global Dermatology Drugs Market?
The dermatology drugs market was mainly driven by rapid growth in emerging markets in the historic period. Emerging markets growth was aided by rising disposable income, stable political environment and increasing foreign investments in these countries. For instance, according to the IMF, China’s GDP growth rate was 2.3% in 2020. Additionally, according to the World Economic Outlook Reports by the IMF, the global growth is 6% in 2021 and expected to be 4.4% in 2022. Thus, strong economic growth boosted the demand for dermatology drugs and this drove the market during the historic period.
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Global Dermatology Drugs Market Segments
The global dermatology drugs market is segmented:
By Type: Acne Drugs, Dermatitis, Psoriasis, Other Drugs for Dermatology Diseases
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others
By Route of Administration: Oral, Parenteral, Others
By Drug Classification: Branded Drugs, Generic Drugs
By Mode of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs
By Geography: The regions covered in the dermatology drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Dermatology Drugs Global Market Report 2022provides market size and growth forecasts for the global dermatology drugs market, global dermatology drugs market share, dermatology drugs market segments and geographies, dermatology drugs market competitive landscape including leading competitors’ revenues, profiles and market shares. The dermatology drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Dermatology Drugs Industry Playersinclude Amgen, Reckitt Benckiser Group plc, AbbVie, Galderma S.A., LEO Pharma A/S, Bayer AG, GlaxosmithKline, Eli Lilly And Company, Novartis AG and Perrigo Company Plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
