Dermatology Drug Market: Geographical and Competitive Dynamics
Global Dermatology Drugs Market: Overview
The global market for dermatological drugs covers within its purview a large number of drug classes that are employed for treating the vast variety of diseases related to skin, nail, genital membranes, and hair affecting millions of people globally. It has been observed in the recent years that the pool of patients affected by dermatological conditions has massively expanded owing to factors such as nutritional deficiency, unhealthy food habits, rise in stress, pollution, and lack of immunity in the global population. With this has increased the demand for effective treatment methods and dermatological drugs for the treatment of dermatological conditions.
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Coupled with the rising demand for effective dermatological treatments, the rise in number of companies investing in the market, a significant increase in the number of drug classes available, and the plausible pace of research and development practices helped the global dermatological drugs market pick pace. The market is likely to see a healthy growth trajectory in the next few years as well, thanks to increased awareness among patients regarding available courses of treatment for dermatological conditions and rising expenditure on skin and haircare products. While effective surgical treatments are available for common dermatology conditions, dermatology drugs are preferred owing to their inexpensive nature and easy availability across all regional markets.
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Global Dermatology Drugs Market: Segmentation
The report covers the global dermatology drugs market for aspects such as end-use, route of administration, therapeutic application, and geography. Based on the route of administration, the report segments the global dermatology market into parenteral, topical, and oral. On the basis of therapeutic application, the report segments the global dermatology drugs market into skin cancer, dermatitis, skin infection, acne vulgaris, rosacea alopecia, eczema, fungal infection, and hair loss. On the basis of end-use of dermatology drugs, the global market has been segmented into cosmetic centers, specialty clinics, and hospitals.
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Global Dermatology Drugs Market: Geographical and Competitive Dynamics
From a geographical standpoint, the report covers the market for dermatology drugs across regions such as Latin America, North America, Asia Pacific, Europe, and Rest of the World. Of these regional segments, the markets in Europe and North America are presently the leading contributors of revenue to the global market owing to the vast patient pool of a vast variety of dermatological conditions and willingness of patients to pay for expensive medications.
Over the next few years, the market in regions such as Asia Pacific and Rest of the World are likely to emerge as highly promising markets for dermatology drugs owing to the high incidence rate of conditions such as acne and psoriasis. Other factors, such as the rising willingness to adopt advanced and expensive therapeutics, rising investment in the sector of manufacturing, and rising awareness about dermatological conditions and their possible treatments among the population.
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In the largely fragmented and immensely competitive vendor landscape of the global dermatology drugs market, some of the leading companies are GlaxoSmithKline, Johnson & Johnson Services Inc., AstraZeneca, AbbVie Inc., LEO Pharma A/S, and Pfizer, Inc.
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