Global Dermatology Drugs Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global dermatology drugs market is expected to decline from $40.7 billion in 2019 to $36 billion in 2020 at a compound annual growth rate (CAGR) of -11.7%. The decline is mainly because of drop in sales due to the lockdown measures to contain COVID-19 spread. Apart from restricting non-emergency medical services, new rules of the governments across the globe has forced many companies in the dermatology drug market to halt their business operations which has impacted the market growth. The market is then expected to recover and grow at a CAGR of 13% from 2021 and reach $66.3 billion in 2023.
The dermatology drugs market consists of sales of dermatology drugs and related 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, microbial infections and other skin disorders.
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The global dermatology drugs market is further segmented based on type, distribution channel, route administration, drug classification, mode of purchase and geography.
By Type: Acne, 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 global dermatology drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific dermatology drugs market accounts for the largest share with 35% of the global dermatology drugs market.
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Trends In The Dermatology Drugs Market
Pharmaceutical companies are offering new drugs referred to as immune modulators for the treatment of skin diseases such as eczema. Eczema is a chronic skin condition caused by the lack of skin proteins that results in inflammation and irritation in the skin. These drugs are used to externally treat the skin without changing the immune system of the body. In addition, unlike topical steroids, these new medications do not cause thinning of the skin and breaking of superficial blood vessels. Tacrolimus (Protopic) and Pimecrolimus (Elidel) are major drugs available for the treatment of eczema.
Dermatology Drugs Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides dermatology drugs market overviews, analyzes and forecasts market size and growth for the global dermatology drugs market, dermatology drugs market share, dermatology drugs market players, dermatology drugs market segments and geographies, dermatology drugs market’s 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.