The global acne treatment market size is expected to reach USD 7.19 billion by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027. This is attributable to increasing incidence of acne amongst the people and growing dermatology consultations across the globe. Fortune Business Insights, published this information in its latest report, titled “Acne Treatment Market Size, Share & COVID-19 Impact Analysis, By Product (Retinoids, Antibiotics, Isotretinoin, and Others), By Treatment Modality (Oral and Topical), By Age Group (10 to 17, 18 to 44, 45 to 64 and 65 Above) By Distribution Channel (Hospital pharmacies, Retail pharmacies and, E-pharmacies), and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 5.46 billion in 2019.
Acne is an inflammatory skin condition that results in the formation of pimples and spots, mostly on the face, neck, chest, and back. The most common skin condition, it affects people during puberty, when the sebaceous glands activate that result in the hair follicles being clogged with dead skin cells and oil. Though not lethal, acne, if not treated, can leave scars on the skin. Some of the glaring factors that facilitate the occurrence of acne are anxiety, stress, genetics, and menstrual cycle, among others.
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
The COVID-19 pandemic has led to severe repercussions owing to its widespread effects across several economies. Several industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government as well as the industries and is expected to bounce back in the coming years.
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Increasing Incidence of Acne to Bolster Growth
The advent of consuming junk food and high disposable income is resulting in increasing cases of skin disorders across the globe. According to the American Academy of Dermatology (ADA), around 85% between the age group of 12 and 24 have experienced minor acne once in a lifetime. Acne incidences are rising in adults, with over 15% affected are women. The rising skin conditions such as eczema, acne, and psoriasis is driving the demand for dermatology consultations globally. The increasing cases of skin ailments are expected to drive the global acne treatment market during the forecast period.
North America to Remain at the Forefront; Increasing Incidence of Acne to Aid Growth
Among all regions, the market in North America was worth USD 3.28 billion in 2019 and is expected to hold the highest position in the global acne treatment market during the forecast period. This is attributable to the increasing prevalence of people suffering from acne in the region. The Asia Pacific will witness significant growth in the forthcoming years. This is ascribable to increasing awareness regarding acne treatment options and a growing number of companies entering the lucrative market between 2020 and 2027.
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Ortho Dermatologics Launches Tazarotene Topical to Treat Acne Vulgaris
In June 2020, Ortho Dermatologics announced its launch of Tazarotene lotion 0.045% following the approval from the US Food and Drug Administration in late 2019. Tazarotene lotion 0.045% is now available across the stores in the United States for treating acne vulgaris in patients aged 9 years and older. Bill Humphries, Ortho President, said, “Ortho Dermatologics is committed to developing novel treatment options like ARAZLO that will help millions of Americans who are suffering from the inflammatory acne problems.
List of the Companies Proliferating in the Global Market for Acne Treatment:
- Allergan (Dublin, Ireland)
- Botanix Pharmaceuticals (Northbridge, Australia)
- Galderma S.A. (Lausanne, Switzerland)
- Valeant Pharmaceutical International, Inc (New Jersey, U.S.)
- Bausch Health Companies Inc (Bridgewater, U.S.)
- GlaxoSmithKline Plc. (London, UK)
- Bayer AG (Leverkusen, Germany)
- Johnson & Johnson (New Jersey, U.S.)
- Pfizer Inc. (New York, U.S.)
- Other Players