The global dermatology drugs market size is expected to reach USD 50.47 billion by 2032, according to a new study by Polaris Market Research. The report “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, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The dermatology drugs market is experiencing a surge in demand due to a growing burden of dermatology diseases globally, with increasing prevalence rates. Increased awareness of disease progression and etiology has increased, leading to a higher demand for effective treatments. The rise in the elderly population has contributed significantly to the market's growth.
Older individuals are more susceptible to skin-related disorders due to various physiological changes associated with aging. For instance, changes in the connective tissue, reduction in skin strength and elasticity, and decrease in sebaceous gland secretions are common in aging individuals, leading to a higher demand for dermatology drugs.
Dermatology is a diverse specialty encompassing disorders and diseases of the skin, mucous membrane, hair, and nails. Conditions in this category include acne, multiple inflammatory dermatoses, skin cancers, autoimmune disease, occupational dermatitis, and contact dermatitis. It’s a highly fragmented therapeutic area, under which comes acne, rosacea, psoriasis, atopic dermatitis, and other disorders.
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Biologics are becoming a popular treatment option for dermatological conditions due to their effectiveness and targeted approach, with many drugs approved by regulatory bodies and more in development. Patients also increasingly prefer topical treatments over systemic medications due to convenience, fewer side effects, and targeted approach, leading to a rise in the demand for topical dermatology drugs. The rising demand in emerging markets, increasing adoption of combination therapies, and focus on personalized medicine are also driving growth in the industry.
For instance, In March 2022, Johnson & Johnson's Janssen Pharmaceutical Companies initiated a prospective clinical trial named VISIBLE to evaluate the safety and efficacy of a drug for people of color suffering from moderate to severe plaque and/or scalp psoriasis.
Dermatology Drugs Market Report Highlights
Polaris Market Research has segmented the dermatology drugs market report based on therapeutic area, drug class, route of administration, distribution channel, and region:
Dermatology Drugs, Therapeutic Area Outlook (Revenue - USD Billion, 2019 - 2032)
Dermatology Drugs, Drug Class Outlook (Revenue - USD Billion, 2019 - 2032)
Dermatology Drugs, Route of Administration Outlook (Revenue - USD Billion, 2019 - 2032)
Dermatology Drugs, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)
Dermatology Drugs, Regional Outlook (Revenue - USD Billion, 2019 - 2032)