|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
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The dermatological over-the-counter (OTC) drugs market is expected to register a CAGR of nearly 4.3% over the forecast period of 2022-2027.
The COVID-19 pandemic had an impact on the studied market due to the pandemic. There were lockdown restrictions owing to which not only footfall in the hospitals and clinics reduced for medical conditions other than COVID-19 but also, the restrictions affected the diagnostics and pharmaceutical supply chain, which had its impact on the market. However, some studies reported that COVID-19 might be responsible for some dermatological conditions, which may have a positive impact on the studied market. For instance, according to the research study published in January 2021 by Genovese G. et al., during the pandemic, COVID-19-associated cutaneous manifestations have been increasingly reported, and some of the manifestations include urticarial rash, confluent erythematous/maculopapular/morbilliform rash and others. Further, with the onset of telemedicine, decreasing severity of the virus, and large-scale vaccination programs around the world, the studied market is expected to reach its full potential over the coming years.
The major factor driving the growth of the studied market is the rising prevalence of skin-related diseases such as acne, dermatitis, fungal infections, and others. For instance, according to the research study published by Carsten Flohr and R. Hay in February 2021, skin diseases are the fourth most common cause of all human diseases, which affects approximately one-third of the global population. Dermatological OTC drugs are gaining traction around the world due to increasing out-of-pocket healthcare costs from prescription drugs, OTC drugs are not only cheaper than prescribed drugs, but also they are easily available and do not need any medical consultation. Thus, they offer a better alternative where they do not need a doctor’s prescription and can easily get the medicines at a lower cost. Further, according to the research study published in March 2019, titled “Skin diseases are more common than we think,” of the total participants in the study, about 64.5% had at least one skin abnormality, of which the most diagnosed ones were actinic keratosis (26.6%), rosacea (25.5%), and eczema (11.7%). Also, as per the same source, the prevalence of skin diseases increased with age and was more common in men as compared to women. Hence, due to the high burden of skin diseases, the demand for drugs is expected to increase. OTC drugs will be sought because of their easy availability and low cost as compared to prescription drugs, and the market will grow.
Furthermore, many skin diseases are age-associated, and their prevalence is found to be higher in the older population. And with the growing global geriatric population, the burden of skin diseases is further expected to increase globally, which will also augment the growth of the dermatological OTC drugs market. For instance, according to the World Population Ageing Highlight Report of 2020 published by the United Nations, the global geriatric population is expected to increase double fold from 727 million in 2020 to 1.5 billion by 2050. However, side effects associated with the OTC drugs and the availability of duplicate drugs in the market are expected to impede the growth of the dermatological OTC drugs market during the forecast period of the study.
Scope of the Report
As per the scope of this report, over-the-counter drugs are referred to as non-prescription drugs. These medicines can be bought by an individual without the doctor's prescription and are safe for consumption without the doctor’s consent.
The dermatological over-the-counter (OTC) drugs market is segmented by indication (acne, dermatitis, psoriasis, fungal infections, and others), product (tablets and capsules, oils, gels, creams, and ointments, and others) route of administration (oral and topical), distribution channel (hospital and retail pharmacies, online pharmacies, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
|Tablets and Capsules|
|Oils, Gels, Creams, and Ointments|
|By Route of Administration|
|By Distribution Channel|
|Hospital and Retail Pharmacies|
Key Market Trends
Acne Segment by Indication Type is Expected to Hold a Major Share in the Market
Acne is one of the most common skin conditions found in every corner of the globe and causes pimples primarily on the face, forehead, chest, shoulders, and upper back. Some of the other symptoms of acne are whiteheads, blackheads, bumps, and pus-filled lumps under the skin, among others. While acne is most common in teenagers, it affects people of all ages, and that is why it is expected to occupy a major share in the studied market over the forecast period of the study. Some of the OTC drugs for acne that are available on the market are Acne Clear, Differin, Plixda, Acnex, and many others.
The high prevalence of acne and easy availability of OTC products are the major driving factor for the growth of the acne segment in the studied market. For instance, according to the research study published in October 2020 by Leelavathy Budamakuntla et al., acne is one of the most common skin diseases seen in clinical practice and is caused by multiple factors. And as per the study, grade II acne was predominant (47%), and the majority of the patients had inflammatory papular acne (51%), and amongst the topical treatment, adapalene, and adapalene and benzoyl peroxide (BPO) combination (34%) was the most prescribed combination followed by adapalene & clindamycin combination (29%). The study was conducted in India, and the drugs prescribed here are OTC drugs. Further, the various company activities such as product launches, mergers, acquisitions, and collaborations are expected to augment the growth of the acne segment. For instance, in August 2020, Perrigo Company acquired three Eastern European OTC skincare and hair loss treatment brands (Emolium, Iwostin, and Loxon) from Sanofi. Therefore, due to the above-mentioned factors, the acne segment is expected to grow and occupy a major share in the studied market over the forecast period of the study.
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North America is Expected to Dominate the Dermatological OTC Drugs Market Over the Forecast Period
North America is expected to dominate the dermatological OTC drugs market due to the present high prevalence of skin diseases, the presence of some of the major market players in the region, and the high and easy availability of dermatological OTC drugs in the market. For instance, in June 2020, HempFusion launched its over-the-counter topical products approved by the United States Food and Drug Administration that can provide relief for pain, acne, eczema, and more. Hence, due to these factors, the North American region is expected to have healthy growth over the forecast period.
In the North America region, the United States is expected to occupy a major market share in the dermatological OTC drugs market owing to the high burden of dermatological diseases in the country coupled with the wide availability of OTC drugs as many major companies in the market are headquartered in the United States which is expected to have a direct impact on the growth of the studied market in the country. According to the American Academy of Dermatology Association (AAD), some of the skin diseases that are prevalent in the United States include acne (cystic and Vulgaris), cutaneous infections, and psoriasis among many others. Further, according to the article published by Jaggi Rao in August 2020, acne affects more than 50 million people in the United States and is one of the most common skin diseases in the United States. And further, as per the same source, about 80% of Americans are affected by acne vulgaris sometime during their life. Thus, this data shows a high prevalence of dermatological diseases in the country, due to which the demand for dermatological medications is higher, and the market is expected to grow significantly in the country. Further, the increasing prevalence of atopic dermatitis (AD) in the country is expected to augment the growth of the studied market in the country. For instance, as per the data published by National Eczema Association in 2020, 31.6 million people (10.1%) in the United States have some form of eczema, and approximately 9.6 million U.S. children under the age of 18 have AD, and one-third have moderate to severe disease.
Therefore, due to the high prevalence of dermatological diseases coupled with the growing aging population and the presence of some of the key players in the region, the North American region is expected to occupy a major share in the dermatological OTC drugs market over the forecast period of the study.
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Due to the rising prevalence of dermatological diseases, companies in the market are enhancing their offering through new product launches, mergers, and acquisitions of other products, collaborations, and other business expansion strategies. As there are many players in the dermatological OTC drugs market, the studied market is moderately competitive. Some of the major players in the studied market include Perrigo Company plc, Bausch Health Companies Inc., Galderma, and Johnson & Johnson, among others.
- In February 2022, Taro Pharmaceutical Industries Ltd. signed an agreement to acquire Alchemee, formerly The Proactiv Company (TPC), from Galderma.
- In September 2021, Zelira Therapeutics launched RAF FIVE, through its dermatology subsidiary Ilera Derm LLC ("Zelira Dermatology") in the United States. The five-product RAF FIVE line consists of the Wash Away Gel Cleanser Acne Treatment, Spot On Acne Treatment, Kick-Off Hydrating Lotion Broad Spectrum SPF 30 Sunscreen, After Hours Moisturizing Lotion Acne Treatment, and Clear the Way Acne Treatment Pads.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Skin-related Diseases/Disorders and Ageing Population
4.2.2 Increasing Demand and Availability of Dermatological OTC Drugs
4.3 Market Restraints
4.3.1 Side Effects Associated With the OTC Medications
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Indication
5.1.4 Fungal Infections
5.2 By Product
5.2.1 Tablets and Capsules
5.2.2 Oils, Gels, Creams, and Ointments
5.3 By Route of Administration
5.4 By Distribution Channel
5.4.1 Hospital and Retail Pharmacies
5.4.2 Online Pharmacies
5.5.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.5.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.5.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Perrigo Company plc
6.1.2 Bausch Health Companies Inc.
6.1.3 Dr. Reddy's Laboratories
6.1.4 Johnson and Johnson
6.1.5 Bayer AG
6.1.6 GlaxoSmithKline plc.
6.1.7 Viatris Inc
6.1.8 LEO Pharma A/S
6.1.9 Acella Pharmaceuticals, LLC
6.1.10 Teva Pharmaceutical Industries Ltd.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Dermatological OTC Drugs Market market is studied from 2019 - 2027.
What is the growth rate of Global Dermatological OTC Drugs Market?
The Global Dermatological OTC Drugs Market is growing at a CAGR of 4.3% over the next 5 years.
Which region has highest growth rate in Global Dermatological OTC Drugs Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Dermatological OTC Drugs Market?
North America holds highest share in 2021.
Who are the key players in Global Dermatological OTC Drugs Market?
Perrigo Company plc, Bausch Health Companies Inc., Johnson & Johnson, Bayer AG, Galderma are the major companies operating in Global Dermatological OTC Drugs Market.