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Acne Medication Market 2020 growth factors, latest trend and regional analysis of leading players by 2024

Author : Ronak Bora | Published Date : 2020-09-21 

Acne Medication Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global acne medication market size is anticipated to expand at a considerable pace owing to rising concern for facial aesthetics and high incidences of skin infections or acne with increased severity.

Likewise, growing concerns regarding the physical appearances among large populations, especially in Latin America, will further augment the industry growth. For instance, 61% of Brazilian consider physical appearance as the major factor that positively impacts social success.

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Additionally, acne has been reported as the most prevalent skin disorder in the U.S., which affects nearly 50 million Americans on an annual basis. Out of this reported number, over 15% face severe acne problems. These factors are slated to proliferate the demand for acne medication in years ahead.

As per GMI estimates, the global acne medication market size is expected to exceed $7 billion by 2024.

North America has emerged as one of the key consumption belts of acne medication due to the high cases of acne-related disorders experienced among people in the region. The U.S. has dominated the North American product market over the years. According to the American Academy of Dermatology, acne is the most common skin problem in the U.S. that affects nearly 50 million Americans each year.

Out of these approximately 15% of the people face severe acne issues that may lead to scarring of the skin. High consumption of fast food along with changing eating habits has led to increased acne problems among Americans. With the rising number of people suffering from acne problems in North America, there is a subsequent rise in the number of industry players operating in the region.

With respect to the formulation, topical acne medication dominated the market share in the year 2017 and was valued at more than USD 2.91 billion. An increase in the use of these medications with an aim to treat moderate level acne issues will propel the sale of topical acne products like gels and creams that comprise of salicylic acid, benzoyl peroxide as well as antibiotics. 

Azelaic acid market has gained enormous recognition over the years primarily to treat mild to moderate cases of acne vulgaris. Many benefits such as the reduction of pore blockages as well as the enhancement in post-inflammatory hyperpigmentation will support the product demand.

Over the counter acne medication held a majority stake in the year 2017 and garnered revenues worth USD 2.42 billion during the year 2017. As per a study, currently, there are various OTC acne treatment products or drugs available in the market today as compared to what was available earlier. 

The growing presence of pharmacies across the globe and the availability of various approved cosmetic acne medications has encouraged the purchase of these products over the counter.

Latin America has witnessed a rise in the concern among people regarding facial aesthetics which has eventually amplified the demand for acne medication products. As per reliable sources, nearly 61% of the people in Brazil feel that physical appearance or facial aesthetics is a major factor behind social success. Rising concern among the people in LATAM regarding their physical appearance will support growth in the acne medication market over time.

Many factors like unhygienic lifestyle, consumption of unhealthy food, fluctuating hormone levels, and excessive production of oil from sebaceous glands often lead to acne in people.

With changing times and the growing dependence on organic, chemical-free skincare products, acne medication giants have changed their product offerings to best suit the demands of the people. Additionally, the market players are constantly working towards increasing their presence by way of strategic alliances, mergers, and acquisitions.

For instance, in the year 2019, Foamix Pharmaceuticals and Menlo Therapeutics Inc. inked a merger agreement to establish a combined biopharma entity that focuses on the commercialization and development of medicines to serve the patients suffering from dermatological issues. Foamix obtained an FDA approval for AMZEEQ™ a topical acne treatment medication that helps in treating moderate-to-severe acne vulgaris in both adults as well as pediatric patients that are 9 years and older.

Other prominent market players include Allergan, Galderma, Johnson & Johnson, Bayer Healthcare and Valeant Pharmaceuticals among various others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/acne-medication-market

Partial Chapter of the Table of Content 

Chapter 4.     Acne Medication Market, By Formulation

4.1. Global acne medication market share, by formulation, 2017 & 2024

4.2. Topical

4.2.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

4.3. Oral

4.3.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

Chapter 5.     Acne Medication Market, By Product

5.1. Global acne medication market share, by product, 2017 & 2024

5.2. Retinoids

5.2.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.3. Antibiotics

5.3.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.4. Salicylic acid

5.4.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.5. Benzoyl peroxide

5.5.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.6. Azelaic acid

5.6.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

5.7. Others

5.7.1.  Market estimates and forecast, by region, 2013 – 2024 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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