Dermatological Drugs Market Size, Growth and Opportunity Outlook Till 2028

Dermatological Drugs Market Growth & Trends

The global dermatological drugs market size is expected to reach USD 34.9 billion by 2028, expanding at a compound annual growth rate (CAGR) of 10.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. The global dermatological drugs market is expected to grow due to driving factors such as the availability of medical resources for detecting and treating skin diseases, nutritional deficiency due to unhealthy food habits, increasing awareness when it comes to lifestyle diseases, and increasing pollution levels, and lack of immunity in the population. Additionally, the rising per capita income and the increasing purchasing power are the driving forces in this market.

Dermatological Drugs Market Segmentation

Grand View Research has segmented the global dermatological drugs market based on Indication and region:

Based on the Indication Insights, the market is segmented into Acne, Psoriasis, Rosacea, Alopecia, Others.

• The psoriasis segment dominated the market with a revenue share of more than 35.0% in 2021 and is expected to expand with the highest CAGR of 11.5% from 2022 to 2028. Psoriasis is caused by the immune system mistakenly attacking healthy skin cells. Psoriasis is not a contagious disease. The disease causes swollen fingers and toes, foot pain, lower back pain, nail changes, and eye inflammation. Psoriasis can be triggered by stress, skin injury, infections, some drugs, and heavy drinking. Psoriasis is found in all age groups but is majorly seen in adults and contributes to the global dermatology drug revenue.
• The alopecia segment is likely to expand with the second-highest CAGR of 10.9% from 2022 to 2028. Alopecia caused due to the body’s immune system attacking hair follicles resulting in hair loss. Alopecia is an autoimmune disorder that results in hair coming out. Both men and women suffer from Alopecia due to an imbalance of hormones, hair care treatments, scalp infections, and possible side effects of some medications. Additionally, hereditary hair loss is the most common cause of hair loss globally. Citizens are careful about hair loss and visit hospitals for diagnosis. Hair loss requires ongoing treatments for a long period and contributes to the market growth rate.

Dermatological Drugs Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by the presence of various well-established players as well as several small and medium-sized players. Pharmaceutical vendors are focusing on research activities to launch new chemical formulae of drugs to cure skin diseases and make patients feel relaxed with the most appropriate drug.

Some of the prominent players operating in the global dermatological drugs market include,

• Novartis AG
• Amgen Inc
• AbbVie Inc
• Johnson & Johnson
• Leo Pharma A/S
• Eli Lilly And Company
• GlaxoSmithKline Plc
• AstraZeneca plc
• Pfizer Inc
• Merck KGaA

Order a free sample PDF of the Dermatological Drugs Market Intelligence Study, published by Grand View Research.