As per the World Health Organization (WHO), skin diseases affect around 900 million individuals across the world at any time. The WHO further states that 1.20 million new skin cancer cases (non-melanoma) were reported in 2020. Some of the most common skin disorders are warts, pyoderma, eczema, acne, and scabies. Such diseases are primarily caused by trauma, aging, genetic factors, and environmental elements. Owing to the increasing cases of such skin diseases, there will be a substantial need for dermatology drugs to cure these disorders.
The market was valued at $25,228.2 million in 2019 and it is expected to reach $55,425.0 million revenue by 2030. Numerous medical product manufacturers are organizing awareness programs to impart knowledge about skin diseases. For example, in June 2020, Kisaco Research organized a virtual summit named Microbiome Connect Skin USA to recognize the worth of skin-microbiome-based dermatology products as the next step in the skincare regime of customers.
Categories under the drug segment of the dermatology drugs market include humira, remicade, otezla, stelara, enbrel, cosentyx, neoral, taltz, cubicin, canesten, zyvox, dupixent, protopic, valtrex, and eucrisa. Among these, the eucrisa category is expected to exhibit the fastest growth throughout the forecast period, as this drug has fewer side effects as compared to other drugs. Owing to this advantage, eucrisa drug is being increasingly used for the treatment of mild-to-moderate atopic dermatitis in adults and children.
According to P&S Intelligence, North America consumed the highest quantity of dermatology drugs in the recent past and it is expected to maintain the lead in the coming years as well. This can be ascribed to the surging awareness regarding skin disorders and care regimen among the people and mounting disposable income of people in the region. Besides, the presence of an extensive pipeline of drugs and the existence of a large number of drug manufacturers will also boost the usage of dermatology drugs in the region in the foreseeable future.
Whereas, the Asia-Pacific (APAC) dermatology drugs market is expected to demonstrate the fastest growth throughout the forecast period. This will be due to the rising disposable income, surging prevalence of skin cancer cases, and growing focus of drug manufacturers on gaining product approvals in the region. Moreover, the escalating expenditure on improving healthcare infrastructure in countries such as India and China will also support the market growth in the region, as these investments are creating huge growth opportunities for pharmaceutical companies.
Thus, the rising incidence of skin illnesses and growing awareness about such diseases will fuel the consumption of dermatology drugs in the foreseeable future.
Dermatology Drugs Market Overview@ https://www.psmarketresearch.com/market-analysis/dermatology-drug-market