Creams and Ointments Segment by Product Type to Lead Dermatology OTC Medications Market during 2021–2028
According to our latest study on “Dermatology OTC Medications Market Forecast to 2028 – COVID-19 Impact Analysis – by Product Type, Route of Administration, Indication, and Distribution Channel,” the market is expected to grow from US$ 15,456.63 million in 2021 to US$ 21,313.40 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the dermatology OTC medications market.
The high prevalence of skin problems and rising income of the middle-class population are expected to boost the global market growth. However, the inappropriate use of OTC medications is restraining the growth of the dermatology OTC medications market. Skin issues, such as pigmentation, wrinkles, creases, acne, and burn scars, are common among people. According to the American Academy of Dermatology Association (AADA), acne is the most common skin condition in the US, affecting ~50 million Americans annually. Additionally, ~85% of people from ages 12 to 24 experience minor acne problems. The costs associated with acne treatment and lost human productivity among those receiving acne treatment exceeded US$ ~1.2 billion in 2013; more than ~5.1 million people, primarily children and young adults were seeking medical treatment for acne in the same year. Further, 1 in 10 people develops atopic dermatitis, and it affects up to 25% of children and 2–3% of adults, as per the AADA. In 2021, according to a poll conducted by Dermstore with 2,000 women across the US, young women started using products to reduce the signs of aging much sooner than older women. Further, the European Commission (EC) has ranked skin diseases as the fourth most common cause of human illness. Acne vulgaris is becoming more prevalent in every country. Dermatology OTC medications are widely used in the treatment of acne. Understanding the characteristics of acne vulgaris burden is critical for developing effective and targeted acne control therapies. According to the Global Burden of Disease Study 2019, 117.4 million incident cases of acne vulgaris, 231.2 million prevalent cases, and 5 million disability-adjusted life years (DALYs) were reported worldwide, representing a 48% increase since 1990.
Dermatology over-the-counter (OTC) drugs are sold directly to a consumer without a prescription from a healthcare professional, as opposed to prescription drugs, which may be sold only to consumers possessing a valid prescription. In many countries, OTC drugs are selected by a regulatory agency to ensure that they contain ingredients that are safe and effective when used without a physician's care. These medications are widely used in skin diseases, such as dermatitis, acne, psoriasis, skin bleaching, fungal infections, and warts.
The dermatology OTC medications market is segmented into product type, route of administration, indication, and distribution channel. Based on product type, the global dermatology OTC medications market is segmented into tablets and capsules, gels, creams and ointments, and others. The creams and ointments segment held the largest share of the market in 2021. However, the tablets and capsules segment is anticipated to register the highest CAGR during the forecast period. Based on route of administration, the dermatology OTC medications market is bifurcated into topical and oral. The topical segment held a larger share of the market in 2021; however, the oral segment is estimated to register a higher CAGR during the forecast period. Based on indication, the dermatology OTC medications market is segmented into dermatitis, acne, psoriasis, skin bleaching, fungal disease, warts, and others. The acne segment held the largest share of the market in 2021; it is estimated to register the highest CAGR during the forecast period. Based on distribution channel, the dermatology OTC medications market is bifurcated into online distribution and offline distribution. The offline distribution segment held a larger share of the market in 2021; however, the online distribution segment is estimated to register a higher CAGR during the forecast period. Furthermore, the offline distribution segment is bifurcated into retail & hospital pharmacies and super & hyper markets. The retail & hospital pharmacies segment held a larger share of the market in 2021.
Bausch Health Companies Inc.; Perrigo Company plc; Bayer AG; Viatris Inc.; Johnson and Johnson Services, Inc.; LEO Pharma A/S.; GlaxoSmithKline plc.; Galderma; Dr. Reddy's Laboratories; and Acella Pharmaceuticals, LLC are among the leading companies operating in the dermatology OTC medications market.
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