Report Description of the US Dermatology Treatment Drugs Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for US Dermatology Treatment Drugs Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the US Dermatology Treatment Drugs Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
US Dermatology Treatment Drugs Market Analysis Executive Summary
In U.S. there is increasing the prevalence of skin related diseases due to which there is high demand of dermatology drugs also there is high penetration of dermatology drugs in the market. In U.S. there is highest launching of novel drug in the market, this are several reason for growth of dermatology drugs in U.S. market.
Market Size and Key Findings
The US Dermatology Treatment Drugs Market Analysis size stood at around USD xx% billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 8.2% during the forecast period.
U.S. dermatology drugs market is expected to gain market growth in the forecast period of 2020 to 2028. The market is growing at a CAGR of 8.2%.
Market Growth Drivers Analysis
Increasing prevalence of skin diseases and growing awareness for diagnostics and treatment of skin diseases is the major driver for the growth of the market. Dermatology drugs are raising awareness about the treatment of skin related diseases such as acne, alopecia, cutaneous mastocytosis, dermal necrosis and dermal ulcer which will accelerate the market growth. Extensive R&D activities in dermatology drugs will further create new opportunities that will impact dermatology drugs market growth in the forecast period.
Serious side effects of certain classes of therapeutic drugs are expected to restrain the market growth in the near future. Moreover, Stringent Regulations for Dermatology Drugs and High Cost of Dermatology Drugs are assumed to be restraining the US Dermatology Drugs Market.
Covid-19 Market Impact Analysis
The COVID-19 pandemic has had a significant impact on the healthcare system. It has reduced the growth rate of the market due to the rapid shift in focus toward COVID-19 treatment. As a result, the majority of the hospitals have delayed vaccinations pertaining to dermatology, chemotherapy sessions, and other non-essential services.
The major players covered in the report are Novartis AG, Pfizer Inc., Eli Lilly and Company., Johnson & Johnson Services, Inc., Almirall, S.A, Mylan N.V., Sun Pharmaceutical Industries Ltd., UCB S.A., Belgium, Glenmark Pharmaceuticals Limited, Tolmar Pharmaceuticals, Inc., GlaxoSmithKline plc., Galderma Laboratories, L.P., Teva Pharmaceutical Industries Ltd., LEO Pharma A/S, MELINTA THERAPEUTICS, INC. – THE ANTIBIOTICS COMPANY, Mayne Pharma Group Limited, BIOFRONTERA AG, AbbVie Inc. among others.
Products in Pipeline
- The drug LEXETTE is used to treat plaque psoriasis in adult patients. The U.S. FDA approval for the drug for 3 years of marketing will generate more revenue in this segment and will expand the scope of dermatology market in future.
- In October 2019, Galderma Laboratories, L.P. received the FDA approval for their product Aklief (trifarotene) Cream, which is used for the topical treatment of acne. After receiving approval form the FDA, the company commercialized their product in the market.
- In January 2019, Biofrontera AG announced that they have received the U.S. Food and Drug Administration (FDA) approval for their upscaling batch production of Ameluz to 35 kg from 7 kg in past years. Biofrontera AG has also got approval from the European Medicines Agency (EMA). This fivefold increase in the production of Ameluz benefits Biofrontera AG to meet the growing demand for Ameluz in all the regions.
Notable Recent Deals
- In February 2019, Mayne Pharma Group Limited announced that they have launched the drug LEXETTE (halobetasol propionate) foam 0.05% in the United States.
- In June 2020, Microbiome Connect Skin USA, a virtual summit, was conducted by Kisaco Research in order to recognize the value of skin-microbiome-based products as the next step in a consumer’s skincare regime.
- In January 2020, Bayer and Azitra Inc. announced a joint development agreement to leverage Azitra’s proprietary panel of Staphylococcus epidermidis strains to identify potential candidates for the treatment of adverse skin conditions and diseases.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
According to the American Cancer Society, in 2021, it was reported that around 106,110 new melanoma cases are diagnosed in U.S. In addition, according to American Academy of Dermatology, in 2021, it reported that skin cancer is the most common cancer in the U.S.
Initiatives taken by government and private organizations to develop pharmaceutical industry propel the growth of the market. However, the presence of alternative for acne treatment such as light or lasers therapies, chemical peels, micro needling, micro dermabrasion, and lesion removal is expected to restrict the dermatologicals market growth during the forecast period.
According to a research study by Sheena Desai et al., published in the Journal of Investigative Dermatology March 2021, in the US, during the COVID-19 pandemic, around 32 clinical trials (56%) were suspended specifically because of the COVID-19 pandemic. Some of the most common skin diseases are acne, scabies, eczema, pyoderma, and warts. Acne is the most common skin condition in the US, affecting up to 50 million Americans annually. Furthermore, according to the National Eczema Association, in 2019, around 31.6 million people in the United States had some form of eczema. Thus, associated drugs are expected to be in high demand, owing to the increasing number of dermatological disease cases.