Dermatological Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Dermatological Therapeutics market was valued at USD 32029.282 million in 2021, and it is expected to reach USD 53241.12 million by 2027, registering a CAGR of 8.55%, during the period.

Globally, due to high transmission rate of COVID-19, many countries across the globe have suffered and are continuing to suffer major burden on both the country’s economy and on their healthcare system. The manufacturing units of all healthcare based companies were affected, transport has been affected badly across all developed and emerging markets during the COVID-19 pandemic 2020. The dermatology market is also to observe some indirect and direct impacts over the forecast period.

For instance, according to a research study by Munise Daye et al., published in Dermatologic Therapy Journal October 2020, during the pandemic period 2020, the management of dermatological diseases was quite difficult. The recommended treatments and patient follow‐ups were redesigned. Approximately half of the patients with chronic skin diseases reduced or discontinued the treatment during the pandemic 2020. Moreover, study results found that dermatological quality of life index (DLQI) was worsen significantly compared to previous years.

Some of the factors that are driving the market growth include growing burden of dermatology diseases, increase in awareness levels of disease progression and etiology and rise in the elderly population. Moreover, 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.

For instance, according to World Population Prospects 2019 report (United Nations, 2019), there were about 703 million people aged 65 years or over in the world in 2019. The number of elderly populat‭ion is projected to double to 1.5 billion in 2050. Worldwide, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. Moreover, by 2050, 1 in 6 people in the world will be over the age of 65, up from 1 in 11 in 2019. As the number of elderly population is expected to grow worldwide and this population are more prone to dermatological disorders which drives the market in near future.

Globally, skin diseases has become a serious impact on people’s quality of life, causing productivity lost at work and other places, and discrimination due to disfigurement. Skin changes may also indicate the presence of more serious skin disorders that require treatment. According to the World Allergy Organization 2018 fact sheet, globally between 5-30% of the pediatric and 1-10% of the adult population have atopic dermatitis.

In addition, global dermatological therapeutics market is anticipated to witness a lucrative growth opportunity, owing to activities, such as collaborations, acquisitions, and new product launches, in the country. For instance, in July 2019, LEO Pharma completed the acquisition of Bayer’s prescription dermatology business and strengthened its position in the dermatology portfolio, worldwide. Similarly, 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.

Thus, increasing burden of dermatological diseases and available therapies is expected to drive market growth over the forecast period. However, serious side effects for certain classes of therapeutic drugs is expected to restrain the market growth in near future.

Scope of the Report

The dermatological therapeutics are concerned with the treatment and prevention of the diseases of the skin, hairs, nails, oral cavity and genitals. There are several rout of administration, however, the most applied one is topical, followed by oral, and other routes. The dermatological therapeutics market is segmented by Application (Alopecia, Herpes, Psoriasis, Rosacea, Atopic Dermatitis, and Other Applications), Drug Class (Anti-infectives, Corticosteroids, Anti-acne, Calcineurin Inhibitors, Retinoids and Other Drug Classes) 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. 

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Key Market Trends

Psoriasis Segment is Expected to Hold a Significant Market Share Over the Forecast Period.

Psoriasis is a chronic autoimmune skin disease that speeds up the growth cycle of skin cells. It causes patches of thick red skin and silvery scales on the elbows, face, palms, knees, scalp, lower back, and soles of feet. The most common type of psoriasis is plaque psoriasis and it is caused by misguided T-cell attacks on the skin.

According to a research study by Camela E. et al., published in Dermatology Journal January 2021, in Italy, during the COVID-19 pandemic 2020, biologics for psoriasis found to be an effective and safe therapy. Moreover, the study results support that biologics may neither represent a risk factor for SARS-CoV-2 infection nor for a more severe disease.

For the treatment of psoriasis, some of the medications were approved by the United States Food and Drug Administration (FDA) such as secukinumab, adalimumab, brodalumab, certolizumab pegol, guselkumab, and risankizumab. According to the World Psoriasis Day consortium 2020, about 2 to 3 percent of the total population in the world have psoriasis. In addition, more than 8 million people in the United States had psoriasis in 2020.

Moreover, the new product launches, focus of market players in expanding their market for dermatology therapeutics, and collaborations and acquisitions are anticipated to boost the market growth. For instance, in February 2020, Amgen Canada received the approval for the marketing authorization transfer of Celgene Corporation’s OTEZLA, after the acquisition in November 2019. OTEZLA is indicated for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis.

As per the National Clinical Trial Registry (NCT), as of May 2021, globally, there are approximately 260 ongoing clinical trials being conducting for the treatment of psoriasis, which are in different clinical trial phases. These are expected to receive approvals for the treatment of the disease in near future which shows positive impact on market growth. Thus, owing to the aforementioned factors, the market is expected to witness steady growth over the forecast period.

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