U.S. Topical Derma Drugs Market – Industry Trends and Forecast to 2030

U.S. Topical Derma Drugs Market Analysis and Size

Surge in R&D investment in the recent past has slowly increased the potential drugs candidate which is expected to drive the topical derma drugs market in the forecast period 2023-2030. Increasing prescription for generic drugs in the U.S. enables more new market players primary focusing on marketing generics, thus acting as a major driver for the growth of the market. The increasing initiatives by governments and private organizations to develop the pharmaceutical industry are boosting the growth of the market.

Data Bridge Market Research analyses a growth rate in the topical derma drugs market in the forecast period 2023-2030. The expected CAGR of topical derma drugs market is tend to be around 9% in the mentioned forecast period. The market value is USD 4.7 billion in 2022, and it would grow upto USD 9.37 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

U.S. Topical Derma Drugs Market Scope and Segmentation

Market Definition

Topical derma drugs are the kind of products which are applied topically to the skin. Such drugs are largely used for the recovery of skin diseases and are frequently used to prevent some skin disorders. Though, dermatological are extensively used to protect the skin for a regular skin care. Derma drugs are categorized into anti-fungal, corticosteroids, local anaesthetics, anti-virals, antibiotics, anti-acne agents, anti-itch agents, miscellaneous topical agents.

U.S. Topical Derma Drugs Market Dynamics

Drivers

• Increasing Elderly Population

Aged population loses the ability to function properly with increasing age, leading to numerous skin illnesses. Furthermore, as the person ages, the body starts to suffer from numerous additional issues, including high sensitivity to ultraviolet (UV) radiation, more susceptibility to infections, slower wound healing, and decreased subcutaneous fat. The growing need for dermatological medications has increased because of the increased likelihood of many skin conditions.

• Increasing Government Initiatives

The initiatives by governments and private organizations to develop many topical drugs are driving the growth of the market. Additionally, the growing number of approvals for dermatology products is boosting the growth of the market. For instance, pharmaceutical company AbbVie Inc. announced that the U.S. Food and Drug Administration approved Rinvoq (upadacitinib) for the treatment of patients with active psoriatic arthritis in December 2021. Though, the increasing presence of acne treatment alternatives such as light or laser therapy, micro-needling, chemical peels, microdermabrasion, and lesion removal is anticipated to restrain the growth of the dermatology market during the forecast period 2023-2030.

Opportunities

• Increasing Cases of Skin Disorders

The increasing frequency of skin cancer and other associated skin disorders or other skin issues such as vitiligo, acne, and dermatosis combined with the growing demand of effective drugs are the most major factors increasing the growth for this market. Furthermore, fungal infection and acne were more incident in the adolescent age group, accounting for around 17.4% and 30.4%, respectively. Around 84.5 million Americans, one in four, were largely impacted by skin disease. It has been seen that acne is the most common skin condition in the U.S., affecting more than 50 million Americans each year. Acne typically begins in puberty and affects various adolescents and young adults. As per the records of the World Psoriasis Day consortium, around 125 million people globally which means that 2 to 3% of the total population suffer from psoriasis. Therefore, this boosts the market growth. 

Restraints/Challenges

• High Cost of Drugs

There are numerous drugs that are related with the disease such as targeted therapy and chemotherapy. The targeted therapy drugs include proteasome inhibitor, such as bortezomib, and various other compounds, including dexamethasone, prednisone, and thalidomide. These drugs process causes the increased rate of cost. Thus, these factors restrict the market growth.

This topical derma drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the topical derma drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

U.S. Topical Derma Drugs Market Scope

The topical derma drugs market is segmented on the basis of severity, drug class, formulation, site, application, population type, mode of purchase, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Severity

• Mild to Moderate
• Moderate to Severe

Drug Class

• Anti-Fungal
• Corticosteroids
• Local Anaesthetics
• Anti-Virals
• Antibiotics
• Anti-Acne Agents
• Anti-Itch Agents
• Miscellaneous Topical Agents
• Others

Formulation

• Patches
• Gel
• Ointment
• Cream
• Foams
• Others

Site

• Surface of the Skin
• Epidermis and Dermis

Application

• Acne
• Cold Sores
• Hives
• Actinic Keratosis
• Carbuncle
• Rosacea
• Eczema
• Psoriasis
• Lupus
• Contact Dermatitis
• Vitiligo
• Warts
• Ringworm
• Impetigo
• Others

Population Type

• Children
• Adults

Mode of Purchase

• Prescription
• Over the Counter (OTC)

End User

• Hospitals
• Specialty Clinics
• Academic & Research Institutes
• Others

Competitive Landscape and U.S. Topical Derma Drugs Market Share Analysis

The topical derma drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, U.S. presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to topical derma drugs market.

Key players operating in the topical derma drugs market include:

• Sanofi (France)
• Novartis AG (Switzerland)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Pfizer Inc. (U.S.)
• Sanofi (France)
• Amgen inc. (U.S.)
• Lilly (U.S.)
• AstraZeneca (U.K.)
• AbbVie Inc (U.S.)
• Johnson & Johnson Private Limited (U.S.)
• LEO Pharma A/S (Denmark)
• Merck & Co., Inc (U.S.)
• Bausch Health Companies Inc (Canada)
• Bristol-Myers Squibb Company (U.S.)
• Takeda Pharmaceutical Company Limited (Japan)

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