Major players in the acne drugs market are ALLERGAN, Galderma S. A. , Valeant Pharmaceutical International Inc. , Teva Pharmaceutical Industries Ltd. and Johnson & Johnson Services, Inc. The global acne drugs market is expected to decline from $4.
New York, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Acne Drugs Global Market Report 2020-30: Covid 19 Impact and Recovery" - https://www.reportlinker.com/p05967819/?utm_source=GNW
6 billion in 2019 to $3.9 billion in 2020 at a compound annual growth rate (CAGR) of -15%. The decline is mainly because of drop in sales due to the lockdown measures to contain COVID-19 spread. Apart from restricting non-emergency medical services, new rules of the governments across the globe has forced many companies in the dermatology drug market to halt their business operations which has impacted the market growth. The market is then expected to recover and grow at a CAGR of 4.3% from 2021 and reach $5.7 billion in 2023.
The acne drugs market consists of sales of prescription acne drugs (Salicylic acid, Retin-A Micro, Onexton, and Solodyn) and related OTC non-prescription products (cleansers, lotions, gels, toners, masks and pads containing acne-fighting ingredients) which are used to treat skin diseases such as acne vulgaris and acne rosacea. Based on the type of acne, this market is segmented into inflammatory acne and Non-Inflammatory acne. Market in this report does not include the sales of drugs used for Dermatitis and Psoriasis.
North America was the largest region in the acne drugs market in 2018. This region is expected to remain the largest during the next five years. Among the countries, the USA acne drugs market was the largest. The acne drugs market in India is forecasted to register the highest CAGR during 2018-2023.
In March 2019, Allergan acquired Envy Medical Inc. o at an undisclosed price. This deal will help Allergan reinforce their goal towards providing customers with enhanced skin care solutions. Envy medicals’ technology used in skin resurfacing procedures like Dermalinfusion, which is a non-surgical, non-invasive skin resurfacing system will immensely help Allergan gain a strong presence in the acne market. Allergan plc is a pharmaceutical company established in 1948 and headquartered in Dublin, Ireland.
Acne is a major problem worldwide, close to 90% of people suffer from some sort of acne. In America alone, close to 12 million people suffer from a severe acne problem, that can lead to scarring of the skin if left untreated, as a result many people purchase Acne care drugs and products.
The presence of alternatives for acne treatment is one of the restraint on the acne drugs market. Due to availability of multiple alternatives, patients tends to choose one amongst many options on the basis of price, side effects, duration and many more. This increases the competition and hence, the competition cuts down a significant portion of business for the acne drugs market. For example, some of the alternatives for the acne treatment apart from acne drugs are Ayurveda, home remedy, laser and photodynamic therapy and extraction of whiteheads and blackheads using special tools like needles and forceps.
Combination therapy is the latest trend in the acne market. Combination therapy is the process of combining two drugs with different mechanisms of action, such combinations of medication have a better efficacy and adherence when compared with monotherapy (the use of only a single drug by itself).The combination of a topical retinoid drug, which unclogs the pores, along with an antimicrobial drug, which is used to treat an infection is being used to treat acne. Example of combination therapy includes: Epiduo, Acanya, Ziana and Benzamycin produced by Galderma, Allergan, Medicis and Atrix respectively.
The stringent regulations concerning the usage of drugs to treat Acne has an impact on the acne drugs market. The regulations have become stringent due to the various side-effects and adverse events caused during the course of treatment. Recently in India, the Central Drugs Standard Control Organization (CDSCO) has issued a warning regarding the safety guidelines concerning the use of the oral drug, Isotretinoin. The CDSCO has directed the State and Union Territories’ drugs controllers to check the labeling of Isotretinoin drug and make the end users aware of the serious birth defects the drug may cause. Further, the Subject Expert Committee (SEC) for Dermatology and Allergy has recommended that the drug should be sold only on the prescription of a dermatologist, manufacturers should provide a package insert in local languages and the retail chemists should maintain the details of retail sale of the drug. Hence, these strict guidelines and regulations would impact the growth of acne drugs market.
An increase in the disposable income of people is one of the major drivers in the acne market. An increase in the disposable income is usually due to an improved economy leading to increased wages and salaries boosting healthcare expenditure. In 2018, Disposable Income in India increased 13.67% when compared to 2017 i.e. from 169 million INR to 192 million INR. Rise in disposable income increased expenditure on facial care products is expected to continue, thereby driving the market in the forecast period.
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