The United Kingdom dermatology market is USD 3.54 billion in 2019 and it is growing at a CAGR of xx% during the forecast period (2019-2028).
The growth of the United Kingdom Dermatology market reflects the augmentation of the overall European market, characterized by growing focus on quality and increased presence of regional players. Middle-aged women and empty nesters have been the focus for this market as they tend to spend more time on personal care, compared to other groups. Over 2,000 skin disorders are recognized, so accurate diagnosis is fundamental to successful management. Each year 54% of the population are affected by skin disease, and 23–33% at any one time have disease that would benefit from medical care. Approximately 4,000 deaths occur in the UK annually due to skin disease, most often from malignant melanoma Skin diseases represent 34% of disease in children, with atopic eczema affecting 20% of infants.
The market is majorly driven by the rising burden of dermatology diseases. Skin disease is one of the principal causes of the growing disease burden that affects millions of people, across the globe. The factors responsible for the development of an adverse number of skin diseases include aging, environmental, and genetic. People in UK are more concerned about their skin and therefore pay more attention to improving the overall quality of their skin. Additionally, the greater spending power of the populace in the region, coupled with the strong presence of key players operating in the market is also boosting the market growth. With the rise in the aging population, dermatological care is likely to receive particular attention. As people age, the risk of developing skin-related disorders increases, due to factors, such as changes in the connective tissue, reduction in the skin’s strength and elasticity, and reduction in secretions from sebaceous glands.
Skin conditions pose a significant threat to patient’s well-being, mental health, ability to function, and social participation. The increasing incidence of dermatological diseases and increasing levels of awareness-related disease progression, aetiology, and available therapies are leading to a high growth of dermatological therapeutics in UK.
However excessive use can lead to several disease including skin cancer such as melanoma. Hence these are some restraining factors to the market growth.