Dermatology Drugs Market Share, Size, Trends, Industry Analysis Report, By Therapeutic Area; By Drug Class; By Route of Administration (Topical, Oral, Parenteral); By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM1106
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global dermatology drugs market was valued at USD 19.18 billion in 2023 and is expected to grow at a CAGR of 11.40% during the forecast period. The dermatology drug market is poised for rapid growth during the forecast period, fueled by factors, including a growing elderly population, heightened awareness of skin issues, increased consumer purchasing power, and large reserves of dermatological drugs.
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Another factor responsible for expansion is the rising prevalence of skin ailments worldwide. Contributing factors include stress, genetics, environmental factors, dietary habits, and aging, which have led to the development of skin diseases in millions of people globally. According to data from the World Health Organization, skin diseases affect nearly 900 million people at any given time, making them one of the most prevalent health issues worldwide.
The market is experiencing a surge in drug approvals for treating various skin conditions such as acne, psoriasis, rosacea, and dermatitis. An increase in product launches and rigorous clinical studies is fueling this growth. Among these conditions, acne is particularly concerning for teenagers due to its impact on their physical appearance.
The American Association of Dermatology reports that over 85% of young individuals experience at least one type of acne. As a result, there is a growing demand for anti-infective products in the market. Additionally, improved marketing strategies and extensive distribution networks are expected to contribute to the expansion of the market during the forecast period.
Furthermore, raising in technological advancements in the pharmaceutical industry, enabling the production of advanced dermatological products with lucrative opportunities. Additionally, the market's growth is driven by key manufacturing companies that produce and distribute dermatological products, as well as an increase in healthcare spending.
The market has been affected by the COVID-19 pandemic in multiple ways. Initially, there was a decline in demand due to lockdowns and restrictions on medical services. However, the market has since rebounded, driven by increased demand for skin-related treatments. Some dermatology drugs have been repurposed to treat COVID-19, but their efficacy is still being investigated. The pandemic has disrupted the supply chain, leading to production delays, drug shortages, and price increases. Despite these challenges, the market is expected to continue growing due to an aging population and the rising prevalence of skin-related conditions.
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Industry Dynamics
Growth Drivers
The global prevalence of skin-related conditions drives the market. Skin diseases such as acne, dermatitis, psoriasis, and rosacea have become more common, leading to a higher demand for dermatology drugs to treat these conditions.
Another significant driver of the market is the aging population. As people age, their skin becomes more susceptible to various skin-related conditions, leading to a higher demand for dermatology drugs. This demographic trend will continue driving the dermatology drugs market growth in the coming years.
Technological advancements, such as biologics and targeted therapies, have also led to the developing of more effective dermatology drugs that provide better outcomes and fewer side effects. Additionally, there has been a growing awareness of skin health and an increased willingness to seek medical attention for skin-related conditions, leading to a higher demand for dermatology drugs. As healthcare expenditure continues to rise globally, more people can afford dermatology drugs and treatments, further driving demand for these products.
Report Segmentation
The market is primarily segmented based on therapeutic area, drug class, route of administration, distribution channel, and region.
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By Therapeutic Area |
By Drug Class |
By Route of Administration |
By Distribution Channel |
By Region |
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Psoriasis segment accounted for the largest market share in 2022
The psoriasis segment accounted for the largest share of the market, owing to the increasing number of manufacturers launching effective drugs for its treatment. The prevalence of psoriasis is also on the rise globally, contributing to the growth of this segment. Moreover, the easy availability of topical solutions at retail pharmacies has increased patient preference for these products.
The acne segment is expected to grow at a considerable CAGR during the forecast period, driven by the increasing number of market players introducing advanced products globally. The prevalence of acne is also on the rise, particularly among the youth population, which is a major factor contributing to the growth of this segment. Additionally, the availability of a wide range of acne products in retail pharmacies and the ease of accessibility are further driving the development of this segment.
Corticosteroids segment holds the highest CAGR of the market
Corticosteroids holds the highest CAGR in the market. Topical corticosteroids are widely used to treat inflammatory skin conditions, including eczema, psoriasis, and allergic contact dermatitis. These drugs are categorized into two groups includes first-generation and second-generation. While first-generation topical corticosteroids are more potent, they also have more side effects. Therefore, second-generation drugs are preferred over first-generation ones as they are more effective and have fewer side effects.
Parenteral segment holds the largest share of the market
The parenteral segment held the largest share of the market, owing to the development of biologics for treating dermatological conditions. Biologics require parenteral administration as they are large and complex molecules that cannot be taken orally.
The oral segment is projected to see a significant CAGR during the forecast period. The US FDA has approved several oral medications for treating dermatological conditions, making them a convenient option for patients who prefer to take medication orally. The ease of administration and availability of oral medications are expected to contribute to the growth of the oral category in the dermatology drugs market.
Hospital pharmacy segment dominated the market in 2022
The hospital pharmacy segment dominated the market and expected to maintain its dominant position in the market due to increasing patient visits and sales of prescription-based drugs to treat various skin disorders. Additionally, the availability of a wide range of drugs in hospital pharmacies and the presence of skilled healthcare professionals to recommend appropriate medicines to patients contribute to this segment's growth.
The rise in patient preference for buying products from nearby pharmacies, coupled with the availability of low-cost over-the-counter (OTC) products, is also driving the growth of the hospital pharmacy segment. This is particularly true in emerging economies where the accessibility of healthcare facilities is limited.
The online pharmacy segment is expected to witness a lucrative CAGR over the forecast period, driven by the growing penetration of online portals and websites such as Amazon and Walmart, which offer customers a range of dermatology drugs at competitive prices.
Moreover, the convenience of online shopping and the availability of a wider range of products are also expected to fuel the growth of this segment in the coming years. However, concerns regarding the authenticity of products and the lack of direct communication with healthcare professionals may hinder the development of the online pharmacy segment.
North America holds the largest market share in 2022
North America held the largest share of the market in 2022 and is expected to maintain its dominance throughout the forecast period. The region's growth can be attributed to factors such as the increasing awareness of skin diseases and their treatment, the presence of numerous established players in the region, and the high disposable income of the population.
Furthermore, frequent launch of new products by market players is expected to drive the market's growth in North America. The region is home to several leading pharmaceutical companies that invest heavily in research and development to bring innovative dermatology drugs to the market. Additionally, the availability of advanced healthcare facilities and increasing government support for developing the healthcare sector are expected to contribute to market growth.
Competitive Insight
Some of the major players operating in the global market include Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, Amgen Inc., Lilly, AstraZeneca, AbbVie Inc., Johnson & Johnson Private Limited, LEO Pharma A/S, Merck & Co. Inc., Bausch Health Companies Inc., and Bristol-Myers Squibb Company.
Recent Developments
- October 2021: Sun Pharma has launched PrILUMYA (tildrakizumab injection) in the Canadian region. The drug is intended for patients with moderate-to-severe plaque psoriasis.
- September 2022: BMS got US FDA approval for Sotyktu (deucravacitinib), an allosteric tyrosine kinase 2 inhibitor, for treating moderate-to-severe plaque psoriasis in adults.
- June 2023: Eli Lilly and Company, along with DICE Therapeutics, Inc., announced a definitive agreement for Lilly to acquire DICE. DICE is a biopharmaceutical company that utilizes its exclusive DELSCAPE technology platform to create innovative oral therapeutic candidates, such as oral IL-17 inhibitors in clinical trials, aimed at treating chronic immunological diseases.
- August 2023: Huadong Medicine Co., Ltd.'s fully owned subsidiary, Hangzhou Zhongmei Huadong Pharmaceutical Co., formed a strategic partnership with Arcutis Biotherapeutics, Inc. The partnership involves the licensing of topical roflumilast for commercialization across Greater China and Southeast Asia.
Dermatology Drugs Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 21.30 billion |
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Revenue forecast in 2032 |
USD 50.47 billion |
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CAGR |
11.40% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Therapeutic Area, By Drug Class, By Route of Administration, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, Amgen Inc., Lilly, AstraZeneca, AbbVie Inc., Johnson & Johnson Private Limited, LEO Pharma A/S, Merck & Co. Inc., Bausch Health Companies Inc., and Bristol-Myers Squibb Company. |
FAQ's
Key companies in dermatology drugs market are Lupin, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sanofi, Amgen Inc., Lilly, AstraZeneca, AbbVie Inc., Johnson & Johnson Private Limited, LEO Pharma A/S.
The global dermatology drugs market expected to grow at a CAGR of 11.3% during the forecast period.
The dermatology drugs market report covering key segments are therapeutic area, drug class, route of administration, distribution channel, and region.
Key driving factors in dermatology drugs market are increasing Elderly Population and rise in clinical studies.
The global dermatology drugs market size is expected to reach USD 50.47 billion by 2032.
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