Dermatological Drugs Market by Product and Geography - Forecast and Analysis 2022-2026

According to Technavio's analyst, the dermatological drugs market size is expected to be valued at USD 19.33 billion by 2026 with a progressing CAGR of 14.67%.

This dermatological drugs market research report has covered details of key players and demographic segmentations that highlight potential growth areas and competition. Furthermore, the post COVID-19 impact analysis on the market captured in this report will help players evaluate their business approaches.

Dermatological drugs market segmentation - Product (biologics and small molecules) and geography (North America, Europe, Asia, and Rest of World (ROW)).

Dermatological drugs market vendors - AbbVie, Amgen Inc., Bausch Health Companies Inc., Botanix Pharmaceutical, Bristol Myers Squibb Co., Cipla Ltd., Dr. Reddys Laboratories Ltd., F. Hoffmann La Roche Ltd., Galderma SA, GlaxoSmithKline Plc, Johnson and Johnson, LEO Pharma AS, Lupin Ltd., Novartis AG, Pfizer Inc., Sanofi SA, Sol-Gel Technologies Ltd., Sun Pharmaceutical Industries Ltd., UCB SA, and Vibcare Pharma Pvt. Ltd., and others.

What will the Dermatological Drugs Market Size be During the Forecast Period?

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Dermatological Drugs Market: Key Drivers, Trends, and Challenges

The need for safe and stable drugs that require minimal monitoring is notably driving the dermatological drugs market growth, although factors such as the presence of access barriers for novel biologics and biosimilars may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the dermatological drugs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Dermatological Drugs Market Driver

One of the key factors driving the global dermatological drugs industry growth is the need for safe and stable drugs that require minimal monitoring. Most drugs used to treat severe dermatologic conditions are associated with neuropsychiatric adverse effects and thus require systematic monitoring. The stability of most dermatological drugs also varies depending on climate. For instance, extreme climatic conditions can reduce the potency of drugs, with some drugs degrading faster than others. Hence, there is a need for drugs that show sufficient chemical, physical, and microbial stability in varied climatic conditions. This will encourage the key players to invest in R and D, which will support the market growth in the forecast years.

Key Dermatological Drugs Market Trend

Increase in prices of dermatological drugs, driven by consumer demand and faster approvals of new drugs, is one of the key dermatological drugs market trends that is expected to impact the industry positively in the forecast period. A strategy adopted by manufacturers of newer biologics is targeting specialized niche markets to justify their product price. The high prices of biologics are expected to be weighed down due to the expected availability of effective and safe biosimilars. Hence, manufacturers of such agents are focusing on improving manufacturing capabilities and using their reputation and established history to secure market access. Also, a 30%-40% reduction relative to the net price of originator biologics could be offered by biosimilar manufacturers. Biosimilar manufacturers could also update the manufacturing capabilities to ensure reliable drug supply, which may drive market growth.

Key Dermatological Drugs Market Challenge

One of the key challenges to the global dermatological drugs industry growth is the presence of access barriers for novel biologics and biosimilars. The current market for dermatological drugs is dominated by TNF-alpha inhibitor biologics. However, TNF-alpha inhibitor biologics are expensive and hence have low adoption. Thus, regulatory bodies such as the FDA and the European Medicines Agency (EMA) have enacted acts such as the Biologics Price Competition and Innovation Act to encourage the adoption of biosimilars that are lower-priced. However, the originators (biologics manufacturers) have extended their current monopoly profits by creating several legal and regulatory barriers to the entry of biosimilars as they restrict the adoption of biologics. In addition, it requires patients to be pretreated with two or three different non-biologic therapies before a biologic treatment is approved, which delays market access to novel biologics. This, in turn, will hamper the market growth in the forecast years.

This dermatological drugs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global dermatological drugs market as a part of the pharmaceutical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the dermatological drugs market during the forecast period.

Who are the Major Dermatological Drugs Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AbbVie
• Amgen Inc.
• Bausch Health Companies Inc.
• Botanix Pharmaceutical
• Bristol Myers Squibb Co.
• Cipla Ltd.
• Dr. Reddys Laboratories Ltd.
• F. Hoffmann La Roche Ltd.
• Galderma SA
• GlaxoSmithKline Plc
• Johnson and Johnson
• LEO Pharma AS
• Lupin Ltd.
• Novartis AG
• Pfizer Inc.
• Sanofi SA
• Sol-Gel Technologies Ltd.
• Sun Pharmaceutical Industries Ltd.
• UCB SA
• Vibcare Pharma Pvt. Ltd.

 

This statistical study of the dermatological drugs market encompasses successful business strategies deployed by the key vendors. The dermatological drugs market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• AbbVie - The company offers dermatological drugs such as Botox, Juvederm, and cool tone. 
• AbbVie - Under the unified segments, the company offers to develop, manufacture, and market products like facial injectables, body contouring, plastics, skincare, and more. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The dermatological drugs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Dermatological Drugs Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the dermatological drugs market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Dermatological Drugs Market?

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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for dermatological drugs in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The significant increase in the demand for dermatological drugs and services owing to an increase in the geriatric population and a high prevalence of chronic and infectious skin diseases will facilitate the dermatological drugs market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic negatively impacted the dermatological drugs market in the region in 2020. However, the initiation of large-scale COVID-19 vaccination drives from December 2020 and the subsequent lifting of lockdown restrictions led to the gradual resumption of operations at manufacturing and logistics units for dermatological drugs, which will ease R and D-related constraints. Thus, the gradually improving economic situation and vaccination drive will increase the demand in the regional dermatological drugs market during the forecast period.

What are the Revenue-generating Product Segments in the Dermatological Drugs Market?

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The dermatological drugs market share growth by the biologics segment will be significant during the forecast period. The significant increase in focus on a better understanding of dermatologic conditions at the molecular level is expected to boost the use of biologics for the treatment of dermatologic conditions. In addition. currently, the acne pipeline has ten biologics products, of which three are in the clinical development process. AOBiome LLC's B-244 is one such product that is in the Phase III clinical development stage. The launch of such products will further support the market growth through the segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the dermatological drugs market size and actionable market insights on post COVID-19 impact on each segment.

 

Dermatological Drugs Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 14.67%
Market growth 2022-2026	$ 19.33 billion
Market structure	Fragmented
YoY growth (%)	10.4
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key consumer countries	US, Canada, Finland, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AbbVie, Amgen Inc., Bausch Health Companies Inc., Botanix Pharmaceutical, Bristol Myers Squibb Co., Cipla Ltd., Dr. Reddys Laboratories Ltd., F. Hoffmann La Roche Ltd., Galderma SA, GlaxoSmithKline Plc, Johnson and Johnson, LEO Pharma AS, Lupin Ltd., Novartis AG, Pfizer Inc., Sanofi SA, Sol-Gel Technologies Ltd., Sun Pharmaceutical Industries Ltd., UCB SA, and Vibcare Pharma Pvt. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Dermatological Drugs Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive dermatological drugs market growth during the next five years
• Precise estimation of the dermatological drugs market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the dermatological drugs industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of dermatological drugs market vendors

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