Dermatology Drugs Market Trends and Dynamics, Supply and Demand, and Market Size

1. Dermatology drugs market is expected to reach $34.5 billion by 2023, according to P&S Intelligence.

2. Increasing personal spending, strong pipeline of dermatological drugs, and growing awareness about skin diseases are the key factors boosting the demand for dermatology drugs globally. On the basis of treatment, the dermatology drugs market has been categorized into topical corticosteroids, retinoids, biologics, calcineurin inhibitors, antihistamines, hormonal therapy, and others. Among these, biologics is expected to be the fastest growing category, advancing at CAGR of 9.1% during the forecast period. Based on drug, the dermatology drugs market has been mainly classified into Humira, Remicade, Otezla, Stelara, Enbrel, Cosentyx, Neoral, Taltz, Cubicin, Canesten, Zyvox, Dupixent, Protopic, Valtrex, and Eucrisa. Of these, Humira witnessed the highest demand in the market, majorly among patients suffering from psoriasis. Access Detailed Report Summary: https://www.psmarketresearch.com/market-analysis/dermatology-drug-market “

3. On the basis of prescription mode, the market has been categorized into OTC and prescription-based drugs, of which the drugs sold through prescriptions held a significant market share in 2017. On the basis of distribution channel, the dermatology drugs market has been categorized into direct, wholesale/retail, and online channels. Of these, the fastest growth in the market during the forecast period is expected from direct distribution channels, with 8.5% CAGR. Besides, the major end users covered under the scope of the study are hospitals, clinics, cosmetic centers, and at-home users, where hospitals generated the highest revenue, amounting to $8.2 billion, in the market in 2017. This can be attributed to the availability of improved healthcare facilities and rising patient base in hospitals globally. Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/dermatology-drug-market/report-sample “

4. Furthermore, several market players, as part of their business strategy, are exploring the untapped market in developing economies such as China and India, which, in turn, is supporting the growth of the APAC dermatology drugs market. For instance, in October 2017, Glenmark Pharmaceuticals Ltd., an Indian pharmaceutical manufacturer, received approval from the Drug Controller General of India to launch Otezla, a new class of oral medication for psoriasis, after conducting clinical trials on psoriasis patients for 16 weeks. The approval and launch of new medications in developing countries are expected to boost the demand for dermatological drugs in APAC during the forecast period. Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=dermatology-drug-market Some of the other key players in the dermatology drugs market are Celgene Corporation, Bausch Health Companies Inc., Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Allergan plc, Merck & Co. “

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