Market Trends of Global Dermatological OTC Drugs Industry
This section covers the major market trends shaping the Dermatological Otc Drugs Market according to our research experts:
Acne Segment by Indication Type is Expected to Hold a Major Share in the Market
Acne is one of the most common skin conditions found in every corner of the globe and causes pimples primarily on the face, forehead, chest, shoulders, and upper back. Some of the other symptoms of acne are whiteheads, blackheads, bumps, and pus-filled lumps under the skin, among others. While acne is most common in teenagers, it affects people of all ages, and that is why it is expected to occupy a major share in the studied market over the forecast period of the study. Some of the OTC drugs for acne that are available on the market are Acne Clear, Differin, Plixda, Acnex, and many others.
The high prevalence of acne and easy availability of OTC products are the major driving factor for the growth of the acne segment in the studied market. For instance, according to the research study published in October 2020 by Leelavathy Budamakuntla et al., acne is one of the most common skin diseases seen in clinical practice and is caused by multiple factors. And as per the study, grade II acne was predominant (47%), and the majority of the patients had inflammatory papular acne (51%), and amongst the topical treatment, adapalene, and adapalene and benzoyl peroxide (BPO) combination (34%) was the most prescribed combination followed by adapalene & clindamycin combination (29%). The study was conducted in India, and the drugs prescribed here are OTC drugs. Further, the various company activities such as product launches, mergers, acquisitions, and collaborations are expected to augment the growth of the acne segment. For instance, in August 2020, Perrigo Company acquired three Eastern European OTC skincare and hair loss treatment brands (Emolium, Iwostin, and Loxon) from Sanofi. Therefore, due to the above-mentioned factors, the acne segment is expected to grow and occupy a major share in the studied market over the forecast period of the study.
North America is Expected to Dominate the Dermatological OTC Drugs Market Over the Forecast Period
North America is expected to dominate the dermatological OTC drugs market due to the present high prevalence of skin diseases, the presence of some of the major market players in the region, and the high and easy availability of dermatological OTC drugs in the market. For instance, in June 2020, HempFusion launched its over-the-counter topical products approved by the United States Food and Drug Administration that can provide relief for pain, acne, eczema, and more. Hence, due to these factors, the North American region is expected to have healthy growth over the forecast period.
In the North America region, the United States is expected to occupy a major market share in the dermatological OTC drugs market owing to the high burden of dermatological diseases in the country coupled with the wide availability of OTC drugs as many major companies in the market are headquartered in the United States which is expected to have a direct impact on the growth of the studied market in the country. According to the American Academy of Dermatology Association (AAD), some of the skin diseases that are prevalent in the United States include acne (cystic and Vulgaris), cutaneous infections, and psoriasis among many others. Further, according to the article published by Jaggi Rao in August 2020, acne affects more than 50 million people in the United States and is one of the most common skin diseases in the United States. And further, as per the same source, about 80% of Americans are affected by acne vulgaris sometime during their life. Thus, this data shows a high prevalence of dermatological diseases in the country, due to which the demand for dermatological medications is higher, and the market is expected to grow significantly in the country. Further, the increasing prevalence of atopic dermatitis (AD) in the country is expected to augment the growth of the studied market in the country. For instance, as per the data published by National Eczema Association in 2020, 31.6 million people (10.1%) in the United States have some form of eczema, and approximately 9.6 million U.S. children under the age of 18 have AD, and one-third have moderate to severe disease.
Therefore, due to the high prevalence of dermatological diseases coupled with the growing aging population and the presence of some of the key players in the region, the North American region is expected to occupy a major share in the dermatological OTC drugs market over the forecast period of the study.
