Skin Diseases Treatment Industry Set to Witness Remarkable Growth by 2030
Skin Diseases Treatment Industry | Forecast 2030
The global skin diseases treatment market was valued at USD 88.25 billion in 2022 and is anticipated to witness growth at a rate of 4.35% over the forecast period. The lucrative growth rate can be attributed to the growth in the adoption rate of pharmaceutical drugs for the treatment of dermatological conditions. The rise in awareness about the importance of facial aesthetics and increased use of high-cost biologics is significantly increasing the revenue generation ability of the market. The presence of over 3000 skin nail and hair conditions that require effective treatment makes the marketplace lucrative for pharmaceutical companies.
The presence of blockbuster drugs such as Humira, which is indicated for various dermatological conditions such as psoriatic arthritis, psoriasis, and hidradenitis suppurativa. Although there are over 10 biologics approved for the treatment of psoriasis but the demand for more effective therapies is still on the rise. The pipeline for dermatological disease has the presence of strong candidates such as beremagene geperpavec (B-VEC) and bimekizumab, which are anticipated to launch in 2023.
Access the Global Skin Diseases Treatment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Actinic Keratosis Treatment Market Insights
The global actinic keratosis treatment market size was estimated at USD 6.4 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The market is anticipated to witness growth opportunities owing to factors such as the rising prevalence of Actinic Keratosis (AK) and the wide presence and easy availability of generic drugs for its treatment. Moreover, the market is driven by increasing awareness about actinic keratosis and various strategic initiatives undertaken by industry players. Increasing consumer awareness regarding dermatological diseases, such as actinic keratosis, is a major growth booster for the market.
Order your copy of the Free Sample of “Skin Diseases Treatment Industry Data Book - Acne, Actinic Keratosis, Atopic Dermatitis, Alopecia Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research
Atopic Dermatitis Drugs Market Insights
The global atopic dermatitis drugs market size was valued at USD 14.19 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. The growing prevalence of atopic dermatitis, strong pipeline, emergence of biologics, and untapped opportunities are anticipated to drive the market over the forecast period. The prevalence of atopic dermatitis is rising steadily. As per Acta Derm Venereologica Journal in 2020, the prevalence of atopic dermatitis diagnosed by the doctor ranged between 17.1% in Europe and 10.2% in Asian adults, while the rates were 22.6% and 0.96%, respectively, in children. It has a substantial financial and social burden and has been categorized as the largest skin disability.
Alopecia Market Insights
The global alopecia market was valued at USD 8.77 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2030. One of the major driving factors for the market is the increasing awareness regarding alopecia treatment options, as people are becoming more conscious of their appearance and actively seeking solutions to address hair loss.
Increasing prevalence of hair loss, technological advancements in alopecia treatment, and the rise in prevalence of chronic diseases that are associated with hair loss are some of the major factors driving the market growth globally. According to data published by the American Hair Loss Association, it was stated that over 95% of hair loss in men is caused due to androgenetic alopecia. Similarly, data published by the International Society of Hair Restoration Surgery, it was estimated that nearly 40% of men encounter some degree of hair loss by 35 years of age, 65% at 60 years, 70% at 80 years, and 80% at the age of 85.Owing to these factors, the androgenetic alopecia market size in terms of revenue is estimated to grow at a significant growth rate during the forecast period.
Go through the table of content of Skin Diseases Treatment Industry Data Book to get a better understanding of the Coverage & Scope of the study
Acne Drugs Market Insights
The global acne drugs market size was valued at USD 4.1 billion in 2017 and is anticipated to register a CAGR of 4.2% during the forecast period. The market is projected to exhibit moderate growth over the forecast period, which can be attributed to factors such as the emergence of biologics, unhealthy lifestyles, and rising disease incidence.
Acne is a common dermatological condition, affecting more than 9.4 million worldwide. Abnormal hormone production is a key causative factor. A rise in androgen (estrogen, in women) levels during puberty trigger the onset of this condition by enlarging oil glands under the skin. This leads to excessive sebum production, which breaks down cell walls in pores leading to bacterial invasion. Although some studies suggest that the risk of developing acne may be increased due to genetic causes, certain factors such as emotional stress, menstruation, hot and humid climate, and greasy cosmetics can trigger the condition.
Skin Diseases Treatment Industry - Key Market Players, 2022
- Pfizer Inc.
- AbbVie Inc.
- Sun Pharmaceutical Industries Ltd.
- GSK plc.
- Amgen Inc.
- Eli Lilly and Company
- UCB
- Novartis AG
- Johnson & Johnson
- Galderma S.A
- AstraZeneca plc
Competitive Landscape
The presence of well-established companies in the skin diseases treatment market makes the entry of smaller players with newer products difficult. Companies are highly focused on R&D to develop and launch novel products that give them a competitive edge. Moreover, bigger players are aiming at acquiring smaller companies with upcoming promising products.
Some of the key players in the skin diseases treatment market include AbbVie Inc, Novartis AG, Leo Pharma A/S, Amgen Inc, Johnson & Johnson Services Inc., Eli Lilly and Company, UCB S.A., GALDERMA, GSK Plc, AstraZeneca, Pfizer Inc, Merck KGaA, Teva Pharmaceutical Industries Limited, and Sun Pharmaceutical Industries Limited.
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