Acne Treatment Market to Hit Sales of $12.57 Billion By 2028 | More than 55% Consumers are willing to Pay More for Better Acne Treatment

Global Acne Treatment Market was valued at US$ 9.43 in 2022, and it is expected to reach a value of US$ 12.57 billion by 2028, at a CAGR of 4.9% over the forecast period (2022–2028).

Westford,USA, Oct. 12, 2022 (GLOBE NEWSWIRE) -- SkyQuest analysis of acne treatment shows that the Global Acne Treatment Market is growing rapidly, with new products and treatments being developed all the time. Acne affects people of all ages, but is most common in teenagers and young adults. The market for acne treatment is therefore huge, and companies are vying for a share of this lucrative market.

Acne is the most common skin condition in the United States, affecting more than 50 million Americans. In fact, it affects over 9.4% of the global population, which translates to over 676 million people. Our analysis shows that there are two main types of acne treatments gaining huge demand in the acne treatment market: those that aim to treat the symptoms of acne, and those that aim to prevent it. The former includes topical treatments such as creams and gels, while the latter includes oral medications such as antibiotics.

It has been found in our study that majority of acne sufferers (70%) will only require over-the-counter treatments, while 30% will need prescription medications. The most common over-the-counter treatments are benzoyl peroxide and salicylic acid, which are effective at clearing up mild to moderate acne. For more severe acne, topical retinoids or oral antibiotics may be necessary.

While there are many different types of prescription medications available for treating acne in the global acne treatment market, the most common are isotretinoin (brand name Accutane), tetracyclines (such as doxycycline), and erythromycin. Isotretinoin is a very effective treatment for severe acne, but can have serious side effects including birth defects, so it must be used with caution. Tetracyclines are also effective against severe acne, but can cause gastrointestinal problems and photosensitivity. Erythromycin is a less commonly used antibiotic that is effective against moderate to severe acne, but can cause gastrointestinal side effects as well.

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Companies in Acne Treatment Market Need to Mix Products to Capture Consumers of All Age

SkyQuest study found that there are several challenges in the acne treatment market. One is that younger consumers are gravitating towards OTC treatments, while older ones are moving to prescription meds. That means companies need to have a mix of products to appeal to all age groups.

Another challenge in the global acne treatment market is that many acne sufferers don't want to admit they have a problem. This leads to them self-diagnosing and using treatments that may not be effective. For instance, we found that 1 in 4 users of OTC treatments don't actually have acne - they're just using the products for prevention purposes.

So how can companies overcome these challenges? SkyQuest recommends focusing on product education and developing new formulations that target specific needs. Additionally, it's important to create an emotional connection with consumers - something that can be difficult with a condition like acne that can be stigmatizing.

The report on global acne treatment market also found that while there are a number of effective acne treatments available, most people still struggle to find the right one for their skin type. In fact, only about 20% of people who use over-the-counter acne treatments see significant results. According to our analysis, the majority of the money spent on acne treatments goes towards products that don't work very well. This includes both over-the-counter and prescription treatments.

More than 55% Consumers are willing to Pay More for Better Acne Treatment

A new survey from SkyQuest has found that acne treatment is a top concern for millennials. The survey, which polled 2,000 adults aged 18-34, found that 41% of respondents said they were concerned about their skin, with acne being the top concern.

The survey on acne treatment market also found that surveyed millennials are willing to spend money on treatments: 55% said they would be willing to pay more for an acne treatment that is effective, and 34% said they would be willing to pay up to $100 for a one-time treatment. When it comes to seeking professional help, 58% of respondents said they would see a dermatologist for their acne.

Interestingly, SkyQuest's survey also found that while both men and women are concerned about acne, women are more likely to seek professional help: 64% of female respondents said they would see a dermatologist for their acne, compared to just 42% of male respondents.

The most commonly used over-the-counter treatments across the global acne treatment market are benzoyl peroxide (used by 60% of respondents) and salicylic acid (used by 50% of respondents). Respondents also reported using a variety of other over-the-counter products, including tea tree oil, retinoids, and sulfur-based products.

When it comes to prescription treatments in the acne treatment market, the most commonly used medication is tretinoin (used by 70% of respondents). Other popular prescription medications include clindamycin, isotretinoin, antibiotics, and birth control pills.

While some acne sufferers only use one type of treatment, most people use a combination of different products to achieve the best results. The most common combination is an over-the-counter product plus a prescription medication (used by 65% of respondents). Other popular combinations include two or more over-the-counter products or two or more prescription medications.

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Huge Product Range, High Cost, and Growing Resistance to Existing Treatments to Challenges Acne Treatment Market Growth

The global acne treatment market is a highly competitive and ever-changing landscape. While there are many effective treatments available, there are also many challenges that continue to face those who suffer from acne. SkyQuest’s analysis of market highlights some of the key challenges that exist within the industry.

Firstly, the sheer number of products on the market can make it difficult for consumers to know which ones will work best for them. This is compounded by the fact that different people have different types of skin, meaning that what works for one person might not work for another.

Another challenge faced by the acne treatment market is the high cost of some of the more effective treatments. This can make it difficult for people to access the care they need, especially if they do not have health insurance. In addition, even when treatments are covered by insurance, they can still be expensive out-of-pocket due to high deductibles and co-pays.

There is a strong need for effective communication between patients and dermatologists. Dermatologists play a vital role in identifying the most appropriate course of treatment for each individual patient, but patient compliance with treatment regimens can be low. Poor communication between patients and dermatologists can lead to frustration on both sides and ultimately result in lower sales for companies.

Finally, our analysis highlights the challenge of resistance to existing treatments. As acne becomes more resistant to traditional treatments like benzoyl peroxide and antibiotics, new and more expensive treatments are required. This resistance could eventually lead to a situation where there are no effective treatments left for those suffering from acne.

While these challenges may seem daunting in the global acne treatment market, it is important to remember that there are many effective treatments available for those suffering from acne. With continued research and development, we expect that new and more affordable treatments will enter the market in the years to come.

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Top Players in global Acne Treatment Market

  • Allergan (Ireland)
  • Botanix Pharmaceuticals (Australia)
  • GALDERMA (Switzerland)
  • Bausch Health Companies Inc. (U.S.)
  • GlaxoSmithKline Plc. (U.K.)
  • Bayer AG (Germany)
  • Valeant Pharmaceutical International, Inc. (U.S.)
  • Johnson & Johnson Services, Inc. (U.S.)
  • Pfizer Inc. (U.S.)
  • Teva Pharmaceutical Industries Ltd. (Israel)

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