Major companies in the dermatology drugs market include Amgen, Reckitt Benckiser Group plc. , AbbVie, Galderma S. A. , LEO Pharma A/S, Bayer AG, GlaxosmithKline, Eli Lilly And Company, Novartis AG and Perrigo Company Plc.

New York, March 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dermatology Drugs Global Market Report 2022" - https://www.reportlinker.com/p06241972/?utm_source=GNW


The global dermatology drugs market is expected to grow from $49.55 billion in 2021 to $54.54 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $76.12 billion in 2026 at a CAGR of 8.7%.

The dermatology drugs market consists of sales of dermatology drugs by entities (organizations, sole traders and partnerships) that produce dermatology drugs to treat skin diseases.This industry includes establishments that produce drugs to treat diseases such as rosacea, dermatitis, hyperhidrosis, androgenic alopecia, acne drugs, microbial infections and other skin disorders.

The dermatology market is segmented into acne drugs, dermatitis, psoriasis, and other drugs for dermatology diseases.

The main drug types of dermatology drugs are acne, dermatitis, psoriasis, alopecia and other drugs.Psoriasis is a skin condition that causes red, itchy scaly patches on the knees, elbows, trunk, and scalp.

The drugs are available in the form of pharmaceutical drugs and biologics.The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs.

The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores, and others.

North America was the largest region in the dermatology drugs market in 2021.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The dermatology drugs market was mainly driven by rapid growth in emerging markets in the historic period.Emerging markets growth was aided by rising disposable income, stable political environment and increasing foreign investments in these countries.

For instance, according to the IMF, China’s GDP growth rate was 2.3% in 2020. Additionally, according to the World Economic Outlook Reports by the IMF, the global growth is 6% in 2021 and expected to be 4.4% in 2022. Thus, strong economic growth boosted the demand for dermatology drugs and this drove the market during the historic period.

High costs associated with drugs is a major issue faced by citizens of many countries.Pressure to contain costs and demonstrate value is widespread.

Political uncertainty and persistent economic stress in numerous countries are calling into question the sustainability of public health care funding.In less wealthy countries, lack of cost-effective drugs has influenced the health conditions of the population and has led to a low average life expectancy.

As a result, in countries such as Chad, Macedonia, Serbia, the pharmaceutical companies are faced with the pressure of reducing the price of drugs. The high costs associated with drugs are putting pressure on the revenues of dermatology drugs manufacturers.

Drug manufacturing companies are using genome testing (genetic diagnosis) to reduce the time and costs spent in clinical trials.A clinical trial is a complex process and it often takes months for a drug to be available in the market.

This deprives patients of cost-effective treatment.Researchers in the Rockefeller University used genomic testing and data analytics to predict the response of psoriasis patients for a given treatment.

Genomic testing algorithms collect gene-expression data from skin biopsies and detect activity in 50,000 different genes. This technique can predict the response of a patient with an accuracy of 95% and within 12 weeks, thus saving significant time for clinical trials and the launch of new drugs.

The countries covered in the dermatology drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.


Read the full report: https://www.reportlinker.com/p06241972/?utm_source=GNW

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