Summary

The Dermatological Therapeutics market was valued at USD 30,316 million in 2020, and it is expected to reach USD 46,345 million by 2026, registering a CAGR of 8.95%, during the period.

Globally, due to high transmission rate of COVID-19, many countries across the globe have suffered and are continuing to suffer major burden on both the country’s economy and on their healthcare system. The manufacturing units of all healthcare based companies were affected, transport has been affected badly across all developed and emerging markets during the COVID-19 pandemic 2020. The dermatology market is also to observe some indirect and direct impacts over the forecast period.

For instance, according to a research study by Munise Daye et al., published in Dermatologic Therapy Journal October 2020, during the pandemic period 2020, the management of dermatological diseases was quite difficult. The recommended treatments and patient follow‐ups were redesigned. Approximately half of the patients with chronic skin diseases reduced or discontinued the treatment during the pandemic 2020. Moreover, study results found that dermatological quality of life index (DLQI) was worsen significantly compared to previous years.

Some of the factors that are driving the market growth include growing burden of dermatology diseases, increase in awareness levels of disease progression and etiology and rise in the elderly population. Moreover, with the rise in the aging population, dermatological care is likely to receive particular attention. As people age, the risk of developing skin-related disorders increases, due to factors, such as changes in the connective tissue, reduction in the skin's strength and elasticity, and reduction in secretions from sebaceous glands.

For instance, according to World Population Prospects 2019 report (United Nations, 2019), there were about 703 million people aged 65 years or over in the world in 2019. The number of elderly populat‭ion is projected to double to 1.5 billion in 2050. Worldwide, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019. Moreover, by 2050, 1 in 6 people in the world will be over the age of 65, up from 1 in 11 in 2019. As the number of elderly population is expected to grow worldwide and this population are more prone to dermatological disorders which drives the market in near future.

Globally, skin diseases has become a serious impact on people’s quality of life, causing productivity lost at work and other places, and discrimination due to disfigurement. Skin changes may also indicate the presence of more serious skin disorders that require treatment. According to the World Allergy Organization 2018 fact sheet, globally between 5-30% of the pediatric and 1-10% of the adult population have atopic dermatitis.

In addition, global dermatological therapeutics market is anticipated to witness a lucrative growth opportunity, owing to activities, such as collaborations, acquisitions, and new product launches, in the country. For instance, in July 2019, LEO Pharma completed the acquisition of Bayer’s prescription dermatology business and strengthened its position in the dermatology portfolio, worldwide. Similarly, in January 2020, Bayer and Azitra Inc. announced a joint development agreement to leverage Azitra’s proprietary panel of Staphylococcus epidermidis strains to identify potential candidates for the treatment of adverse skin conditions and diseases.

Thus, increasing burden of dermatological diseases and available therapies is expected to drive market growth over the forecast period. However, serious side effects for certain classes of therapeutic drugs is expected to restrain the market growth in near future.

Key Market Trends

Psoriasis Segment is Expected to Hold a Significant Market Share Over the Forecast Period.

Psoriasis is a chronic autoimmune skin disease that speeds up the growth cycle of skin cells. It causes patches of thick red skin and silvery scales on the elbows, face, palms, knees, scalp, lower back, and soles of feet. The most common type of psoriasis is plaque psoriasis and it is caused by misguided T-cell attacks on the skin.

According to a research study by Camela E. et al., published in Dermatology Journal January 2021, in Italy, during the COVID-19 pandemic 2020, biologics for psoriasis found to be an effective and safe therapy. Moreover, the study results support that biologics may neither represent a risk factor for SARS-CoV-2 infection nor for a more severe disease.

For the treatment of psoriasis, some of the medications were approved by the United States Food and Drug Administration (FDA) such as secukinumab, adalimumab, brodalumab, certolizumab pegol, guselkumab, and risankizumab. According to the World Psoriasis Day consortium 2020, about 2 to 3 percent of the total population in the world have psoriasis. In addition, more than 8 million people in the United States had psoriasis in 2020.

Moreover, the new product launches, focus of market players in expanding their market for dermatology therapeutics, and collaborations and acquisitions are anticipated to boost the market growth. For instance, in February 2020, Amgen Canada received the approval for the marketing authorization transfer of Celgene Corporation’s OTEZLA, after the acquisition in November 2019. OTEZLA is indicated for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis.

As per the National Clinical Trial Registry (NCT), as of May 2021, globally, there are approximately 260 ongoing clinical trials being conducting for the treatment of psoriasis, which are in different clinical trial phases. These are expected to receive approvals for the treatment of the disease in near future which shows positive impact on market growth. Thus, owing to the aforementioned factors, the market is expected to witness steady growth over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to lead the global market due to increasing healthcare expenditure, growing awareness about skin diseases and the strong presence of pharmaceutical companies are anticipated to drive the market growth in North America.

According to a research study by Sheena Desai et al., published in Journal of Investigative Dermatology March 2021, in United States, during the COVID-19 pandemic 2020, around 32 trials (56%) clinical trials were suspended specifically because of the COVID-19. The most common COVID-19 trial suspensions were for atopic dermatitis (n = 7), psoriasis (n = 7), and hidradenitis suppurativa (n = 5). Moreover, about 63% of the COVID-19 affected trials were phase 2 and 3 trials.

Some of the most common skin diseases are acne, scabies, eczema, pyoderma and warts. Acne is the most-common skin condition in the United States, affecting up to 50 million Americans annually. Furthermore, according to the National Eczema Association, in 2019, around 31.6 million people in the United States had some form of eczema. Thus, associated drugs are expected to be in a high demand owing to the increasing number of dermatological disease cases, in the coming years.

Rising awareness programs against the skin cancer in the region is also boosting the market growth. As per American Academy of Dermatology Association, skin cancer is the most common cancer in the United States and unprotected ultraviolet (UV) exposure is the most preventable risk factor for skin cancer. In 2021, Skin Cancer Awareness Month takes place during the COVID-19 pandemic and shared the facts to help and save lives against the skin cancer in the United States.

In January 2020, Eli Lilly and Company signed a definitive agreement to acquire the dermatological drugs developer, Dermira, in an USD 1.1 billion all-cash deal, adding commercial and late-stage drugs to its portfolio.

In December 2019, Amgen Inc.​ has received United States Food and Drug Administration (FDA) approval for AVSOLA (infliximab-axxq) for all approved indications of the reference product, Remicade (infliximab): for the treatment of chronic severe plaque psoriasis (PsO), psoriatic arthritis (PsA) and other indications.

Similarly, in December 2019, Bausch Health Companies Inc., has received United States Food and Drug Administration (FDA) approval for ARAZLOTM (tazarotene) Lotion, 0.045%, for the topical treatment of acne vulgaris. Hence, all these factors are projected to significantly boost the market growth for dermatological therapeutics in the North America region.

Competitive Landscape

The Dermatological Therapeutics Market is moderately consolidated competitive. Many new players are emerging in the dermatological therapeutics market, as a result of a number of growth opportunities. Forthcoming patent expiries of major drugs are leading to increased competition, and it is further driving the market studied, especially in the generic sector. The overall dermatological diagnostics and therapeutics industry is expected to witness tremendous growth, with several generic players controlling significant market share in the developing regions. Some of the market players include Amgen Inc., Bausch Health Companies Inc., Novartis AG, AbbVie Inc​., Almirall SA, and others.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Dermatology Diseases
4.2.2 Increase in Awareness Levels of Disease Progression and Etiology
4.2.3 Increase in the Elderly Population
4.3 Market Restraints
4.3.1 Serious Side Effects for Certain Classes of Therapeutic Drugs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Alopecia
5.1.2 Herpes
5.1.3 Psoriasis
5.1.4 Rosacea
5.1.5 Atopic Dermatitis
5.1.6 Other Applications
5.2 By Drug Class
5.2.1 Anti-infectives
5.2.2 Corticosteroids
5.2.3 Anti-acne
5.2.4 Calcineurin Inhibitors
5.2.5 Retinoids
5.2.6 Other Drug Classes
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbvie Inc. (Allergan Plc)
6.1.2 Almirall SA
6.1.3 Amgen Inc.
6.1.4 Bausch Health Companies Inc.
6.1.5 Galderma SA
6.1.6 GlaxoSmithKline Plc
6.1.7 Johnson & Johnson
6.1.8 Novartis AG
6.1.9 Pfizer Inc.
6.1.10 Bristol-Myers Squibb Company
6.1.11 LEO Pharma A/S
6.1.12 Eli Lilly and Company
6.1.13 Sun Pharmaceuticals Ltd
6.1.14 Aclaris Therapeutics, Inc.
6.1.15 Aurobindo Pharma Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS