Prescription Dermatology Therapeutics Market Size, Share, Growth, and Industry Analysis, By Type (Fungal Infection Drugs, Skin Cancer Drugs, Acne & Rosacea Drugs, Psoriasis Drugs, Dermatitis & Seborrhea Drugs), By Application (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), Regional Insights and Forecast From 2023 To 2030

Updated On: 20 November 2023

Prescription Dermatology Therapeutics Market Report Overview

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The global prescription dermatology therapeutics market size was USD 29170 million in 2022. As per our research, the market is expected to reach USD 40000 million by 2028, exhibiting a CAGR of 5.4% during the forecast period.

Prescription dermatology therapeutics refer to medications and treatments that are prescribed by dermatologists to treat various skin conditions. Some common skin conditions that may require prescription dermatology therapeutics include acne, rosacea, psoriasis, eczema, and skin cancer.

Prescription dermatology therapeutics may include topical medications, such as creams, gels, and ointments that are applied directly to the affected area of the skin. These medications may contain ingredients such as antibiotics, corticosteroids, retinoids, or immune modulators, depending on the specific skin condition being treated.

COVID-19 Impact: Pandemic Decreased the Market Demand

Pandemic has also had several adverse effects on the prescription dermatology therapeutics market share. One significant impact has been on the supply chain of these medications. The pandemic has disrupted global trade and transportation, leading to shortages of some prescription dermatology therapeutics and increased prices for others. Additionally, many dermatology clinics and practices have had to close or reduce their hours due to lockdowns and other restrictions, resulting in delays in treatment for some patients. This has led to some patients experiencing worsening of their skin conditions and an increased need for prescription dermatology therapeutics when they are finally able to receive care. Furthermore, the pandemic has had an impact on the research and development of new prescription dermatology therapeutics. Clinical trials for new medications have been delayed or suspended due to the pandemic, which could slow down the approval and release of new treatments for skin conditions.

Latest Trends

"Natural and botanical products is expected to fuel the growth in the market"

The trend of using natural and botanical products for the treatment of skin conditions is gaining momentum in the prescription dermatology therapeutics market. Consumers are becoming increasingly aware of the potential benefits of natural products, and they are seeking alternatives to traditional pharmaceuticals. This trend is leading to the incorporation of natural and botanical products into prescription dermatology therapeutics. Many natural and botanical products have been used for centuries in traditional medicine to treat skin conditions. For example, tea tree oil has antifungal and antibacterial properties, and it is commonly used in the treatment of acne and other skin infections. Honey is another natural product that has been used for its antimicrobial properties and wound healing effects. Aloevera is also widely used for its anti-inflammatory properties and its ability to soothe irritated skin. There are also many botanical ingredients that are being incorporated into prescription dermatology therapeutics. For example, green tea extract is a potent antioxidant that has been shown to have anti-inflammatory effects. Licorice root extract is another botanical ingredient that has been used for its anti-inflammatory and skin brightening effects.

Prescription Dermatology Therapeutics Market Segmentation

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• By Type Analysis

According to type, the market can be segmented fungal infection drugs, skin cancer drugs, acne & rosacea drugs, psoriasis drugs, dermatitis & seborrhea drugs.

• By Application Analysis

Based on application, the market can be divided into hospital pharmacies, retail pharmacies, online pharmacies.

Driving Factors

"Growing prevalence of skin conditions to foster the market growth"

Skin conditions such as acne, psoriasis, atopic dermatitis, skin cancer, and rosacea are common worldwide. The prevalence of these conditions is increasing due to factors such as changes in lifestyle, environmental factors, and genetic predisposition. For example, the incidence of skin cancer has been increasing globally due to factors such as exposure to UV radiation and changes in lifestyle habits such as increased outdoor activities and tanning. Similarly, the prevalence of acne has been increasing due to factors such as changing dietary habits and hormonal changes. The growing prevalence of skin conditions is driving the demand for prescription dermatology therapeutics, as patients seek medical intervention to manage their conditions.

"Increasing awareness and education to result in the expansion of the market"

There is growing awareness and education about the importance of proper skin care and the treatment of skin conditions. This awareness is being driven by various factors such as social media, advertisements, and education campaigns by dermatology associations. As a result, patients are becoming more informed about the importance of proper skin care and the treatment of skin conditions. This is leading to an increase in demand for prescription dermatology therapeutics, as patients are more likely to seek medical treatment for their skin conditions. In addition, healthcare providers are increasingly incorporating education and counselling on proper skin care and the use of prescription dermatology therapeutics into their patient care plans, which is further driving the demand for these treatments and contributing to the prescription dermatology therapeutics market growth.

Restraining Factors

"Availability of over-the-counter (OTC) treatments to hamper the market growth"

Many skin conditions can be treated with OTC products, which are readily available without a prescription. These products are generally less expensive and more convenient than prescription dermatology therapeutics, which can be a significant barrier to the use of prescription treatments, particularly for milder cases of skin conditions. For example, mild cases of acne can often be treated with OTC topical creams or gels that contain benzoyl peroxide or salicylic acid, which can be purchased at a local drugstore. Similarly, mild cases of eczema or dry skin can often be managed with OTC moisturizers.

Prescription Dermatology Therapeutics Market Regional Insights

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"Asia Pacific to lead the market owing to the high burden of skin diseases "

Asia Pacific region is expected to show the most growth in the market over the forecast period. This region has a large and growing population, with increasing disposable income and healthcare spending. In addition, the region has a high burden of skin diseases, including conditions such as acne, atopic dermatitis, and psoriasis. As a result, there is a growing demand for prescription dermatology therapeutics in the region, particularly in countries such as China, Japan, and India. Furthermore, the region is experiencing significant advancements in the field of dermatology and the development of new and innovative prescription dermatology therapeutic.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Pfizer: New York, United States
• AbbVie: North Chicago, Illinois, United States
• Johnson & Johnson: New Brunswick, New Jersey, United States
• Novartis: Basel, Switzerland
• Amgen: Thousand Oaks, California, United States
• Eli Lilly: Indianapolis, Indiana, United States
• Celgene: Summit, New Jersey, United States (acquired by Bristol Myers Squibb in 2019)
• LEO Pharma: Ballerup, Denmark
• Bausch Health Companies: Laval, Quebec, Canada
• Sun Pharmaceutical: Mumbai, India
• Aclaris Therapeutics: Wayne, Pennsylvania, United States

Report Coverage

This report examines an understanding of the prescription dermatology therapeutics market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.