Dermatology Drugs Market Overview
The global dermatology drugs market valued $21.5 billion in 2017 and is projected to register a CAGR of 8.2% during the forecast period, on account of the rising geriatric population, increasing incidence of dermatological diseases, growing awareness on skin diseases, increasing personal spending, and strong pipeline for dermatological drugs.
GLOBAL DERMATOLOGY DRUGS MARKET, BY TREATMENT, $M (2013-2023)
On the basis of treatment, the dermatology drugs market is categorized into topical corticosteroids, retinoids, biologics, calcineurin inhibitors, antihistamines, hormonal therapy, and others, where the “others” category includes antibiotics; antibacterial, antifungal, and antiviral agents; and enzyme inhibitors. Topical corticosteroids held the largest share in the market in 2017, with a revenue contribution of 28.9%. This can be attributed to the increase in the demand for these drugs on account of the rising prevalence of eczema globally.
Based on drug, the dermatology drugs market is classified into Humira, Remicade, Otezla, Stelara, Enbrel, Cosentyx, Neoral, Taltz, Cubicin, Canesten, Zyvox, Dupixent, Protopic, Valtrex, Eucrisa, and others. Other drugs mainly include Altabax, Entyvio, Actemra, Kineret, Simulect, Zinbryta, Arava, Millipred, Rhofade, Enstilar, Jublia, and Siliq. Humira contributed revenue of 20.3% to the market in 2017 owing to the increased product demand from psoriasis patients. Humira is used in the treatment of adults with moderate-to-severe chronic plaque psoriasis who are eligible for systemic therapy or phototherapy.
On the basis of therapy area, the dermatology drugs market is categorized into psoriasis, atopic dermatitis, acne, rosacea, acne scars, skin cancer, and others. Other chronic skin conditions include fungal infections of the skin (such as athlete's foot), cold sores, blisters, hives, actinic keratosis, and carbuncles. During the forecast period, the market is expected to witness the highest growth in demand for dermatological drugs for the treatment of psoriasis, with 8.5% CAGR.
The dermatology drugs market is classified into prescription-based drugs and over-the-counter (OTC) drugs, on the basis of prescription mode. Based on distribution channel, the market is categorized into direct, wholesale/retail, and online channels. The direct selling of drugs by manufacturers accounted for 59.4% share in the market in 2017.
The end-user segment of the dermatology drugs market includes hospitals, clinics, cosmetic centers, at-home, and others, where the “others” category includes research and clinical laboratories, nursing homes, and ambulatory surgical centers. Among all end users, hospitals dominated the market during the historical period, accounting for 38.0% share in 2017.
Geographically, North America is the largest market for dermatology drugs. The region accounted for 43.3% share in the dermatology drugs market in 2017. This can be attributed to the increasing awareness on newly developed drugs and high per capita income in the region.
Dermatology Drugs Market Dynamics
Skin disease is one of the leading causes of non-fatal disease burden globally, affecting millions of people. Aging, trauma, and environmental and genetic factors can result in the development of skin diseases. According to the World Health Organization (WHO), skin diseases are among the most common human health disorders and affect almost 900 million people across the world at any given time. Some of the most common types of skin diseases reported globally are pyoderma, scabies, acne, eczema, and warts.
Acne is the most common skin condition in the U.S., affecting up to 50 million Americans annually. The treatment costs for acne in the country exceeded $1.2 billion in 2013. A number of treatments, including dermatology drugs, are available nowadays to prevent the occurrence of dermatological diseases. Thus, the increasing incidence of skin diseases is resulting in the high demand for dermatological drugs, which, in turn, is driving the dermatology drugs market growth.
Dermatology Drugs Market Competitive Landscape
Various dermatological drugs manufactured by key players are being approved by the regulatory authorities such as the U.S. Food and Drug Administration (USFDA) and the European Union (EU), which, in turn, is positively affecting the growth of the dermatology drugs market. For instance, in November 2018, the USFDA granted the priority review for Sanofi’s supplemental Biologics License Application (sBLA) for Dupixent (dupilumab) as potential treatment for adolescent patients (aged 12–17 years) with uncontrolled moderate-to-severe atopic dermatitis.
Similarly, in September 2018, Sanofi received the USFDA approval for its Libtayo (cemiplimab-rwlc) for the treatment of patients with metastatic cutaneous squamous cell carcinoma (CSCC) or locally advanced CSCC who are not candidates for curative surgery or curative radiation.
Some of the other key players operating in the global dermatology drugs industry are Celgene Corporation, Bausch Health Companies Inc., Novartis AG, Pfizer Inc., Bristol-Myers Squibb Company, Johnson & Johnson, Allergan plc, Merck & Co. Inc., Amgen Inc., AbbVie Inc., Eli Lilly and Company, Nestlé Skin Health S.A., GlaxoSmithKline plc, Mylan N.V., and LEO Pharma A/S.