Acne Medication Market worth over $13.1bn by 2027
Published Date: June 21, 2021 Authors: Sumant Ugalmugle, Rupali Swain
Acne Medication Market size is set to surpass USD 13.1 billion by 2027, according to a new research report by Global Market Insights, Inc.
Increase in number of people suffering from acne related problems will enhance the acne medication market growth during the forecast timeframe. Acne is one of the most prevalent dermatological ailments affecting roughly around 10% people globally. Excessive hormone production is among the prime factor responsible for increased acne condition. Growth in androgen and estrogen hormone levels during onset of puberty coupled with huge young population around the globe is supporting the trend. Certain studies also infer that the acne condition arises pertaining to genetic causes, while some factors including menstruation, emotional stress, hot & humid climate, and excessive use of cosmetics may promote the condition. Owing to these factors, there has been substantial growth in the number of people suffering due to acne. This growth will impel the use of acne medication, further facilitating the market expansion during the forecast period.
Growing awareness regarding the treatment options and recent therapeutic developments is anticipated to boost the acne medication market progression
Rising awareness regarding therapeutics in acne medication, and high prevalence of acne diseases in the APAC region will drive the industry growth in the coming period. The presence of multiethnic patient population with different skin types in the region often makes the acne treatment challenging. However, the increasing awareness related to acne medication options such as dermocosmetics, biologics and complementary & alternative medicines (CAM) attributed to ongoing advancements have stimulated product acceptance across the region. Research and development activities have promoted the use of several CAM therapies as acne medication and generally regarded as safe.
Higher effectivity and better results offered by oral medications against inflammatory acne is expected to surge the market value
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The oral segment in the acne medication market accounted for more than USD 2.8 billion in 2020 led by the higher effectivity and better results offered against inflammatory acne and nodular lesions. Oral medications are used during onset of severe acne; when the acne poses significant amount of resistance to the topical medications. They are also used in case of nodular lesions as the topical treatment alone is not substantial for treating lesions and may develop scarring on the skin. Oral medications present a preferred option in case of inflammatory lesions. The most common agents used as oral medications in acne management includes oral antibiotics, isotretinoin and hormonal agents.
Wide drug offerings under antibiotic class will promote the segment growth
The acne medication market for antibiotics segment is estimated to progress at 5.8% growth rate through 2027. Antibiotics are available in both topical and oral forms. Topical antibiotics such as erythromycin and clindamycin find their primarily applications in case of mild to moderate inflammatory acne. They have properties that limit the growth of bacteria and help in suppressing the inflammation of the lesions on skin surface. Oral antibiotics feature higher strength and are often used in treating severe acne. These antibiotics including macrolides, fluoroquinolones, tetracyclines and other agents inhibit the progression of Propionibacterium acnes (P. acnes) bacteria and provide cost-effective clinical outcomes.
Browse key industry insights spread across 200 pages with 286 market data tables & 20 figures & charts from the report, “Acne Medication Market Size By Formulation (Topical, Oral), By Product (Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide, Azelaic Acid), By Type (Prescription, OTC), By Acne Type (Inflammatory Acne, Non-Inflammatory Acne), By Distribution Channel (Retail Stores, Pharmacies & Drug Stores, E-commerce), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Comprehensive range of acne care options offered by the OTC products will accelerate the acne medication market demand
The OTC segment held 45% of revenue share in 2020 and is predicted to reach USD 6.1 billion by 2027 on account of the availability of broad range of acne care options and increasing accessibility to OTC products. The OTC acne care products are primarily used in treatment of mild to moderate acne and also in case of periodic breakouts. These products include cleansing gels, foams, lotions, creams and leave-on products among others. Comfort, affordability, and difficulty in scheduling appointment with dermatologist are some of the factors fueling the use of OTC acne products in the market. Additionally, prominent players such as Johnson & Johnson, Stiefel Laboratories, Galderma, Reckitt Benckiser Group have availed extensive portfolio of OTC products in the market.
Frequent occurrence of non-inflammatory acne will push the demand for acne medication
The non-inflammatory acne segment in the acne medication market exceeded USD 3.7 billion in 2020. Non-inflammatory acne represents the least painful form of acne that mainly includes blackheads and whiteheads. This type of acne usually does not cause redness & swelling and can be treated using OTC acne medication. Non-inflammatory are the most commonly observed acne condition and arise due to clogged skin pores.
Widespread presence and extensively growing network of pharmacies and drug stores will foster the industry expansion
The acne medication market for pharmacies & drug stores segment was valued at USD 2.3 billion in 2020 and is poised to expand at more than 5.8% through 2027 propelled by the increasing number of pharmacies globally and extensive, widespread network of drug stores. According to a published report, in India, the total number of stockists is around 65,000 and the number of pharmacies is over 550,000. The number has grown exponentially over the last couple of decades, registering a 4-fold and 6-fold increase, respectively. Similarly, there are more than 67,000 pharmacies in the U.S. and is further projected to record an upward growth trajectory over the forecast period. Growing number of pharmacies, broad network of drug stores and easy accessibility will spur the segment expansion.
Growing number of people suffering with acne diseases in China will the market growth
China held the largest revenue share in the Asia Pacific acne medication market and accounted for over USD 425 million in 2020 driven by high prevalence of acne especially among the teenagers. According to a published report, study was conducted to assess the prevalence of acne diseases in China. This study inferred that the prevalence among teenagers was 46.8%. The rising prevalence is owing to adoption of unhealthy habits such as smoking, drinking and high consumption of fatty foods. Furthermore, new companies entering the market with advanced offerings, availability of cheaper generic products, increasing healthcare expenditure and rising awareness regarding acne medication in the country will further amplify the industry progression.
Major players are implementing strategic initiatives and innovative product launch to expand business operations
Some of the major companies operating in the acne medication market are Reckitt Benckiser Group, Guthy-Renker, Johnson & Johnson, Galderma S.A., Allergan plc, BioPharmX, Bayer AG, and others. These leaders are investing notably in research and development activities to launch innovative products and garner maximum revenue share in the market.