Dermatological Drugs Market to Expand at 10.8% CAGR by 2028 Due to Growing Awareness Regarding Skin Diseases and Increasing Pollution Levels That Causes Allergies and Reactions | Million Insights

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According to new report available with Million Insights, the global dermatological drugs industry report provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Dermatological Drug Market is segmented by types, manufacturers, applications and regions.

The global Dermatological Drugs Market size is expected to reach USD 34.92 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 10.8% from 2021 to 2028. The market is expected to grow due to key factors such as the availability of medical resources for detecting and treating skin diseases, nutritional deficiency due to unhealthy food habits, increasing awareness regarding lifestyle diseases, increasing pollution levels, and lack of immunity in the population. Additionally, the rising per capita income and the increasing purchasing power are the driving forces in this market.

The acne indication segment is expected to expand at a CAGR of 10.5% from 2021 to 2028. Acne is a skin condition, where dead skin cells and oils clog skin pores, forming spots, pimples, and sometimes cysts. Additionally, infected hair follicles cause acne, which starts from the skin pores. Acne causes bumps on the face, shoulders, chest, and back in the form of pimples, blackheads, and white heads. Acne can be cured and the appearance of the skin can be improved with effective treatment from a dermatologist, thus contributing to the growth of the market. 

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North America held the largest revenue share of more than 35.0% in 2020. The U.S. is positively contributing to the growth of the regional market. The presence of well-established pharmaceutical vendors is one of the key factors supporting the market growth. This region is one of the promising regions to launch new technology in terms of well-established healthcare infrastructure and advanced research and development activities, which help innovate and produce the most appropriate drugs to cure cancer. It is observed that in this region, there is a rapid shift of the healthcare industry towards consumer-driven health care from traditional treatment for providing diagnosis and provision-based health services. Additionally, the ease of availability of drugs and reimbursement policies for patients in the healthcare industry are driving the market in the region.

                                 

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Dermatological Drugs Market Report Highlights:

• North America held the largest revenue share of more than 35.0% in 2020. The presence of well-established pharmaceutical vendors is one of the key factors supporting the market growth

• Asia Pacific is likely to expand at the highest CAGR of 12.2% from 2021 to 2028. Continuous improvement of the life science industry and health services and awareness regarding skin diseases and their treatment are the key factors contributing to the growth of the APAC market

• The acne indication segment is expected to expand at a CAGR of 10.5% from 2021 to 2028. Acne is a skin condition, where dead skin cells and oil clog skin pores, forming spots, pimples, and sometimes cysts

Dermatological Drugs Market Segmentation

Million Insights has segmented the global dermatological drugs market on the basis of indication and region:

Dermatological Drugs Indication Outlook (Revenue, USD Million, 2017 – 2028)
Acne
Psoriasis
Rosacea
Alopecia
Others

Dermatological Drugs Regional Outlook (Revenue, USD Million, 2017 – 2028)
North America
U.S.

Europe
Germany
France
U.K.

Asia Pacific
China
Japan

Central & South America
Brazil

Middle East & Africa
South Africa

List of Key Players of Dermatological Drugs Market

Novartis AG
Amgen Inc.
AbbVie Inc.
Johnson & Johnson
Leo Pharma A/S
Eli Lilly And Company
GlaxoSmithKline Plc
AstraZeneca plc
Pfizer Inc.
Merck KGaA

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