New York, March 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Acne Drugs Global Market Report 2022" - https://www.reportlinker.com/p06245001/?utm_source=GNW
, Bayer AG, Stiefel Laboratories Inc., Ranbaxy Laboratories Limited, Pfizer Inc., Sun Pharmaceutical Industries Limited, Mayne Pharma Group Limited, Mylan N.V., Cipher, Daiichi Sankyo Company, Ltd, Guthy-Renker LLC, Medicis Pharmaceutical Corporation, Foamix Pharmaceuticals, BioPharmX, In, Roche Holding AG, F. Hoffmann-la Roche Ltd, Anterios Inc., AndroScience, Oculus Innovative Sciences, Aqua Pharmaceuticals, Skinvisible Pharmaceuticals and Prestium Pharma Inc.
The global acne drugs market is expected to grow from $5.03 billion in 2021 to $5.36 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.55 billion in 2026 at a CAGR of 5.2%.
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 drugs-fighting ingredients) which are used to treat skin diseases such as acne drugs vulgaris and acne drugs rosacea. Market in this report does not include the sales of drugs used for dermatitis and psoriasis.
An increase in the disposable income of people is one of the major drivers in the acne drugs market.An increase in the disposable income is usually due to an improved economy leading to increased wages and salaries boosting healthcare expenditure.
According to the Office For National Statistics (UK), in 2020, the average household disposable income in UK was £30,800 ($37,830), an increase of 2.3% from 2019 . Rise in disposable income increased expenditure on facial care products is expected to continue, thereby driving the market in the forecast period.
North America was the largest region in the acne drugs market in 2021.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Acne Drugs is a major problem worldwide, close to 90% of people suffer from some sort of acne drugs. In America alone, close to 12 million people suffer from a severe acne drugs problem, that can lead to scarring of the skin if left untreated, as a result many people purchase Acne Drugs care drugs and products.
The presence of alternatives for acne drugs treatment is one of the restraints on the acne drugs market.Due to availability of multiple alternatives, patients tend 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 drugs 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 drugs 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 drugs. 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 Drugs 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.
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.
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 drugs market. Allergan plc is a pharmaceutical company established in 1948 and headquartered in Dublin, Ireland.
The countries covered in the acne drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06245001/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
