Acne Medication Market Growth Strategies To Boost The Industry
Acne Medications are medicines that are indicated for the treatment of acne. This includes many prescription and over-the-counter medications such as retinoids, isotretinoin, antibiotics, salicylic acid, benzoyl peroxide, and oral contraceptives.
Asia-Pacific is expected to record the highest CAGR in the forecast period, due to an increase in product launches, higher demand for acne treatments and rising healthcare costs, as well as increased awareness of newly developed treatments that can replace traditional acne.
Acne is one of the most common skin conditions caused by changes in the structure of the skin. It affects millions of teens around the world. It is characterized by pimples, blackheads, oily skin and blemishes. There are two types of acne, non-inflammatory and inflammatory, where the latter takes longer to heal and can have a permanent effect on the skin. It usually affects the skin with more sweat glands than the upper part of the chest, back and face.
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According to a new report published by Allied Market Research, "Therapeutic Classes, Formulations, Types, Acne Types, Distribution Channels and Regions by Acne Medicine Market: Opportunity Analysis and Industry Forecast, 2019-2027”, The global acne drug market is valued at $ 11,865.9 million in 2019 and is projected to reach $ 13,357.57 million by 2027 at a CAGR of 3.80% from 2020 to 2027.
Key Market Players
- Almirall Sa
- Bausch Health Companies Inc.
- Glaxosmithkline Plc (Gsk)
- Johnson & Johnson
- Galderma S.A.
- Mayne Pharma Group Limited
- Mylan N.V.
- Sun Pharmaceutical Industries Limited
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd
The increase in the prevalence of acne is a major factor contributing to the growth of the acne drug market. Furthermore, other factors driving the market include unhealthy urban lifestyles and the presence of strong acne drugs in the pipeline. The side effects associated with the use of acne drugs and the presence of alternative treatments hinder the growth of the market. In contrast, the development of effective drugs with low side effects and high market potential in unused emerging economies is expected to provide profitable growth opportunities for market growth.
Key Advantages:
- Quantitative analysis of the current acne medication market trends and future estimations from 2020 to 2027, which assists in identifying prevailing acne medication market opportunities.
- An in-depth analysis of various regions is likely to provide a detailed understanding of the current trends to the stakeholders to formulate region-specific plans.
- Comprehensive analysis of factors that drive and restrain growth of the acne medication market are provided.
- Key regulatory guidelines for the acne medication market are critically dealt according to region.
- A deep dive analysis of various regions provides insights that would allow companies to strategically plan their business moves.
