Dermatology Drugs Market Analysis

Dermatology Drugs Market Analysis

Based on indication type, the dermatology drugs market is categorized into psoriasis, atopic dermatitis, acne, skin cancer, and other indications. The psoriasis segment held the largest market share of 48.2% in 2022. Psoriasis is a common skin disorder, affecting millions of people worldwide. As per the publication by the National Psoriasis Foundation/USA, 2023, around 125 million people worldwide (2-3 percent of the total population) have psoriasis. The high prevalence of psoriasis drives the demand for effective and innovative dermatology drugs to manage and treat the condition.
 

Based on route of administration, the dermatology drugs market is bifurcated into parenteral injection, topical, and oral. The parenteral injection segment was anticipated to be worth of USD 21.2 billion in 2022 and is expected to grow at 10.5% CAGR during the forecast period. Parenteral administration enables accurate and targeted medication administration. Dermatology medications delivered by injections or infusions can reach the afflicted tissues or skin layers directly, increasing effectiveness and lowering the risk of systemic adverse effects, propelling the market further.
 

Based on distribution channel, the dermatology drugs market is classified into hospital pharmacies and retail pharmacies. The hospital pharmacies segment held dominant market share of around 76.5% in 2022 and is expected to grow at a significant pace of 10.6% during the forecast period. Hospitals has specialised dermatology departments equipped with dermatology diagnostic devices and dermatology treatment devices. Dermatology drugs are readily available in hospital pharmacies to assist these specialised services.
 

In addition, hospital pharmacies often have access to high-cost biologic therapies used in the treatment of severe skin conditions like psoriasis and pemphigus vulgaris. These biologics may require special storage and handling, which hospital pharmacies are well-equipped to manage.
 

North America dermatology drugs market accounted for significant revenue in 2022 and is expected to reach USD 10.7 billion in 2032 with a CAGR of 10.3% from 2023-2032. North America boasts a well-established and advanced healthcare infrastructure. The region has a robust network of hospitals, clinics, and specialty dermatology centers that facilitate the diagnosis and treatment of dermatological disorders. This infrastructure supports the accessibility and availability of dermatology drugs, contributing to market progress.
 

Moreover, there is an increasing awareness about skin health among the general population in North America. Patients are more proactive in seeking medical attention for skin diseases, leading to early diagnosis and treatment initiation. Improved patient awareness and diagnosis drive the demand for dermatology drugs in the region.