North America was the leading revenue contributor to the global acne medication market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the early approval of acne medication products and high adoption of prescription medicines in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 5.6% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward safe acne medications products.
According to a new report published by Allied Market Research, titled, Acne Medication Market, by Therapeutic Class, Formulation, Type, Acne Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the global acne medication market was valued at $8,017 million in 2017, and is projected to reach $10,929 million by 2025, registering a CAGR of 3.9% from 2018 to 2025.
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Acne medications have gained a substantial market share in the recent years, due to high prevalence of acne vulgaris and high preferences for skin care products. Improved features of acne drugs and development of safer acne therapeutics have led to widening of applications of these medications for the treatment of acne, which have further supplemented the market growth. Furthermore, increase in strategic developments by key players is anticipated to fuel the market growth in the near future.
Acne is a long-term skin disease that appears because of clogged hair follicles, dead skin cells, and oil excreted from skin. It is characterized by the presence of considerable number of pimples, whiteheads, blackheads, oily skin, and probable scarring. It generally affects the skin with comparatively high number of sweat glands at upper part of chest, back, and face. Acne medications are drugs that are indicated for the treatment of acne. These include several prescription and over-the-counter medicines such as retinoids, isotretinoin, antibiotics, salicylic acid, benzoyl peroxide, oral contraceptives, and others.
The factors that drive the growth of the acne medication market include increase in prevalence of acne vulgaris across the world, unhealthy urban lifestyle, surge in pollution, and rise in focus on skin care products. However, side effects associated with acne medications and reforms, and presence of alternative treatment options such as laser therapies, impede the market growth. Conversely, the development of newer products with lesser side effects and presence of untapped market in the emerging economies are expected to provide lucrative growth opportunities for the market.
The retinoids segment accounted for the largest share in 2017, owing to high usage in treatment of acne and lesser side effects as compared to other therapeutics. However, the salicylic acid segment is expected to grow at the high CAGR from 2018 to 2025.
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The inflammatory acne segment is the largest acne type segment in the global acne medication market in 2017 and is expected to maintain its lead in the forecast period. On the other hand, non-inflammatory acne segment is anticipated to record the highest CAGR from 2018-2025.
By type, the prescription medicine segment dominated the global acne treatment market in terms of revenue in 2017 and the trend is projected to continue throughout the forecast period.
The utilization rate of topical medications for acne treatment is high owing to high availability of these products with high success rate and lesser side effects. However, the oral medication segment is expected to grow at a CAGR of 3.6% during the forecast period.
- The study provides an in-depth analysis of the global acne medication market with current trends and future estimations from 2017 to 2025 to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
- Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
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