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The facial erythema treatment market share is expected to increase by USD 106.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.01%.
This facial erythema treatment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers facial erythema treatment market segmentation by product (topical and oral) and geography (North America, Europe, Asia, and ROW). The facial erythema treatment market report also offers information on several market vendors, including Bausch Health Companies Inc., Bayer AG, Galderma SA, GlaxoSmithKline Plc, LEO Pharma AS, Merck and Co. Inc., Novartis AG, Pfizer Inc., and Regeneron Pharmaceuticals Inc. among others.
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The strategic initiatives of market players is notably driving the facial erythema treatment market growth, although factors such as side effects associated with facial erythema treatment drugs 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 facial erythema treatment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Facial Erythema Treatment Market Driver
The strategic initiatives of market players is one of the key drivers supporting the facial erythema treatment market growth. Vendors in the global facial erythema treatment market are increasingly focusing on strategic developments, such as product enhancements and innovations, to extend their product portfolios. For instance, in July 2021, Sol-Gel Technologies Ltd., a dermatology company that develops generic topical drug products for the treatment of skin diseases, announced that the FDA had approved its first proprietary drug product, TWYNEO. The product is a tretinoin/benzoyl peroxide-based cream, which can be used for the treatment of lesions caused due to acne vulgaris in adults and pediatric patients nine years of age and older. Thus, the growing number of product development and collaborations undertaken by vendors in the market is expected to support the growth of the market during the forecast period.
Key Facial Erythema Treatment Market Trend
The increased healthcare spending worldwide is another factor supporting the facial erythema treatment market growth. According to The World Health Organization (WHO), the global spending on healthcare continually increased between 2000 and 2018 and reached $8.3 trillion or 10% of global GDP. In 2020, the US spent 19.7% of its GDP on healthcare expenditure. Other European nations such as Germany, France, Sweden, and Austria spent 11.43%, 11.26%, 10.90%, and 10.33%, respectively, of their GDP on healthcare expenditure. Furthermore, the expenditure on prescription drugs and over-the-counter medicines has increased in recent years. Thus, the increasing expenditure in the global healthcare sector and the increase in government aid to healthcare providers will boost the growth of the global facial erythema treatment market during the forecast period.
Key Facial Erythema Treatment Market Challenge
The side effects associated with facial erythema treatment drugs is one of the factors hindering the facial erythema treatment market growth. The FDA has provided approval for the topical use of oxymetazoline 0.05% solution for the treatment of rosacea. The usage of oxymetazoline has resulted in improvement in facial erythema and erythematous flares as it offers relief in stinging and burning of the skin. However, many side effects of oxymetazoline have been reported. These include application site dermatitis, pain, paresthesia, and pruritus. It can also lead to the worsening of facial inflammatory lesions of rosacea. Thus, the side effects associated with the usage of facial erythema treatment drugs can result in the reduced usage of these drugs. These market challenges can negatively impact the growth of the global facial erythema treatment market during the forecast period.
This facial erythema treatment 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.
Technavio categorizes the facial erythema treatment market as a part of the global pharmaceuticals 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 facial erythema treatment market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the facial erythema treatment market encompasses successful business strategies deployed by the key vendors. The facial erythema treatment market is concentrated and the vendors are deploying growth strategies such as the launch of new products, product approvals, joint ventures, acquisitions, partnerships, expansion projects, collaborations, and investments to compete in the market.
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 facial erythema treatment 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.
Our report provides extensive information on the value chain analysis for the facial erythema treatment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains 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.
The value chain of the pharmaceuticals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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41% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the facial erythema treatment market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The high prevalence of rosacea will facilitate the facial eryth`ema treatment 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
In 2020, the COVID-19 pandemic had a negative impact on the regional facial erythema treatment market. The governments of various countries such as the US, Canada, and Mexico, imposed nationwide lockdowns to curb the spread of the disease. However, in H2 2020, due to the availability of vaccines and the vaccination drives conducted by governments in the region, there was a reduction in the number of COVID-19 cases. Supply chain disruptions faced by regional vendors were eased, which led to the availability of various medications for the treatment of facial erythema. Thus, the regional market will continue to witness growth during the forecast period.
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The facial erythema treatment market share growth by the tropical segment will be significant during the forecast period. Facial erythema can be caused by common inflammatory skin diseases such as perioral dermatitis, rosacea, and systemic illness. Various factors leading to facial erythema include sun exposure, extreme temperatures, alcohol consumption, hot drinks, and spicy food, among others. There are several types of facial erythema, with different patterns and color variations like red, purple, or brown. They can be treated with various drugs, which can be administered topically. Thus, the market segment will continue to witness growth due to the increased preference for using topical drugs for the treatment of facial erythema.
This report provides an accurate prediction of the contribution of all the segments to the growth of the facial erythema treatment market size and actionable market insights on post COVID-19 impact on each segment.
Facial Erythema Treatment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.01% |
Market growth 2022-2026 |
$ 106.32 million |
Market structure |
Concentrated |
YoY growth (%) |
4.50 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, Germany, UK, China, and Canada |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Bausch Health Companies Inc., Bayer AG, Galderma SA, GlaxoSmithKline Plc, LEO Pharma AS, Merck and Co. Inc., Novartis AG, Pfizer Inc., and Regeneron Pharmaceuticals Inc. |
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 the 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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