Global Prescription Dermatological Drugs Market - 2022-2029

Global Prescription Dermatological Drugs Market - 2022-2029

Market Overview

Prescription Dermatological Drugs Market was valued at USD 25870 million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 6.20% during the forecast period (2022-2029).

Dermatology includes the study, research, and diagnosis of normal and disorders, diseases, cancers, cosmetic and ageing conditions of the skin, fat, hair, nails and oral and genital membranes. acne, dermatitis, eczema, psoriasis, fungal infections, warts, cold sore, and skin cancer are the most common dermatology indications. Approximately, one in six of the people visit the general practitioners for the skin disorders.

Prescription dermatological drugs are used for the treatment of the skin related diseases, skin problems such as acne, genital herpes, skin wounds, cosmetic problems of the skin, scalp, hair, & nails, and ageing conditions of the skin, fat, hair, nails, oral and other conditions. The market is dominated by the availability of the various prescription dermatological drugs such as immunotherapy, topical medications, systemic medications, and other medications.

Market Dynamics

Rising Prevalence of Skin Disorders is Driving the Growth of the Market

The market is driven by the increasing demand for the Prescription Dermatological Drugs with the increasing prevalence of the skin disorders. According to Global Burden of Disease (GBD) study conducted by the Institutes of Health Metrics, the skin conditions accounts for the 1.79% to the total global burden of disease. Dermatitis, psoriasis, cellulitis, pyoderma, scabies, fungal skin diseases, viral skin diseases, acne vulgaris, alopecia areata, pruritus, urticarial, decubitus ulcer, malignant skin melanoma, and keratinocyte carcinoma are the most frequent skin conditions across the globe. According to the World Health Organization (WHO), the prevalence of psoriasis ranges from the 0.09% and 11.4% in the various countries. The prevalence of the psoriasis ranges from the 1.5 and 5% in the most developed countries. Atopic dermatitis (AD) is the most common chronic or recurrent inflammatory skin disease that affects 15-20% of children and 1-3% of adults worldwide. As per the National Institute of Health (NIH), acne is the eighth most prevalent disease worldwide that affects 9.4% of the global population.

Rising Financing & Funding for Prescription Dermatological Drugs is Boosting the Market Growth

Several public & private companies are also raising the financing and funding for development of prescription dermatological drugs. For instance, in October 2020, Sirnaomics had grabbed a $105 million series D round. This funding was used for the advancing the research & development (R&D) process for its RNAi therapeutics for the treatment of various indications such as skin cancer, fibrosis diseases, metabolic diseases and viral infections. In January 2019, Vyome Therapeutics Inc, had closed the $22 million financing. The company had used the funding for the advancing its lead molecule i.e., VB 1953 to phase II studies for treatment of moderate to severe acne and for operations. Several institutes & organizations are raising the funding for the dermatology-related projects. National Institute of Health had awarded the USD 554.2 million to 1764 dermatology-related projects conducted at 171 institutions during the year 2015 to 2019. The NIH funding for dermatology-related projects had witness the increase at a rate of 14.7% from the USD 104.4 million in 2015 to USD 119.9 in 2019.

Adverse Effects Associated with the use of prescription dermatological drugs is Hampering the Market Growth

The market is hindered by the adverse effects associated with the use of the prescription dermatological drugs. Several adverse effects include nausea, abdominal pain, shortness of breath, swelling of ankles or feet, hyperlipidemia, hyperpigmentation hematuria, back pain, fever, maculopapular rash, headache, hypertension, and others are observed among the patients. The use of the prescription dermatological drugs increases the chances of developing the fungal, bacterial, and viral infection. Serious allergic reaction such as hives, trouble breathing, and swelling of your face, eyes, lips, or mouth are observed among the patients.

COVID-19 Impact Analysis

The global prescription dermatological drugs market has witnessed the positive market growth due to increasing demand for the prescription dermatological drugs with the increasing number of people suffering from the COVID-19. There is increasing adoption of the prescription dermatological drugs for treating the cutaneous manifestations observed among the patients with COVID-19 infection. According to the Esther E Freeman et.al., 2020, approximately 0.2% to 20.4% of COVID-19 patients had cutaneous manifestations. Maculopapular eruption, pseudo-chilblain lesions, urticaria, monomorphic disseminated vesicular lesions, acral vesicularpustulous lesions, and livedo or necrosis are the most common cutaneous manifestations observed among the patients with COVID-19 infection. According to the American Academy of Dermatology's COVID-19 Registry, a collaboration between the American Academy of Dermatology and the International League of Dermatologic Societies, out of 171 laboratory-confirmed COVID-19 patients with cutaneous manifestations, around 22% of patients had morbilliform rash, 18% of patients had pernio-like acral lesions, 16% of patients had urticaria, 13% of patients had macular erythema, 11% of patients had vesicular eruption, 9.9% of patients had papulosquamous eruption, and 6.4% of patients had retiform purpura. As per the Sánchez-Arráez et al 2020, approximately, 30% of acral erythema, 20% of dactylitis, 35% of purpuric maculopapules, and 15% of mixed pattern were observed among the COVID-19 adults and children with cutaneous manifestations. There is growing penetration of the prescription dermatological drugs such as biologics, immunomodulators and immunosuppressants for the treatment of the cutaneous manifestations with COVID-19.

Epidemiology

According to the American Cancer Society, approximately 100,350 number incidence cases of melanoma are expected to observed in the United States in 2020. Around 6,850 number of people are expected to died due to melanoma in 2020. According to the National Alopecia Areata, approximately, 6.8 million people have or would develop the Alopecia Areata in the United States. As per the American Hair Loss Association, approximately 95% of the hair loss occurred due to the androgenetic alopecia among the men. The prevalence of atopic dermatitis was observed to be 7.3% in central and eastern european countries. The prevalence of atopic dermatitis was 8% among the adults in France. Various factors such as urban environment, higher socioeconomic status, family history and other factors increase the risk of developing atopic dermatitis. Acne vulgaris affects 80% of people during their lives in the United States. Around 20% of people with severe acne has resulted in permanent physical and mental scarring.

Market Segment Analysis

Psoriasis Drugs segment is expected to hold the largest share in the Prescription Dermatological Drugs market

By Product Type, the market is classified as the acne & rosacea drugs, anti-aging drugs, dermatitis & seborrhea drugs, hair loss & hair removal drugs, psoriasis drugs, skin cancer drugs, and others. The psoriasis drugs segment is anticipated to hold the largest share in the prescription dermatological drugs market due to the higher demand of the psoriasis drugs with the increasing prevalence of the psoriasis. According to the World Health Organization (WHO), the prevalence of psoriasis ranges from the 0.09% and 11.4% in the various countries. The prevalence of the psoriasis ranges from the 1.5 and 5% in the most developed countries. The market is dominated by the availability of the corticosteroids, calcineurin inhibitors, anthralin, methotrexate, cyclosporine, biologics and other drug for the treatment of the psoriasis. Biologics are effective improving the signs and symptoms of psoriasis. Several biologics such as etanercept (Enbrel), infliximab (Remicade), adalimumab (Humira), ustekinumab (Stelara), secukinumab (Cosentyx) and ixekizumab (Taltz) have been approved for the treatment of the moderate to severe psoriasis who are not responding to the first line of therapies. Clinical studies have demonstrated that the use of the adalimumab (Humira) among the patients with moderate to severe chronic plaque psoriasis had resulted in 75% and even 90% skin clearance in just 4 months.

By Distribution Channel, Hospital Pharmacies Segment is Expected to Witness a High Growth Over the Forecast Period

The market is classified based on the distribution channel as the hospital pharmacies, retail pharmacies, online pharmacies and others. The hospital pharmacies is segmented to have the highest market growth due to the higher availability of the prescription dermatological drugs with the high cost in the hospital pharmacies. There is increasing usage of the prescription dermatological drugs for the prevention, treatment, and management of chronic dermatological disorders with the increasing in the number of the admitted to the hospitals.

Geographical Analysis

North America region holds the largest market share global Prescription Dermatological Drugs market

North America region is dominating the global prescription dermatological drugs market accounted for the largest market share in 2021 owing to the high prevalence of the skin disorders and other diseases. According to the Skin Cancer Foundation, every day, around 9,500 people are diagnosed with skin cancer in the United States. At least one in five Americans develop skin cancer by 70. Basal cell carcinoma (BCC) is the most common form of skin cancer with 4.3 million cases diagnosed in the United States annually. More than one million people suffer from Squamous cell carcinoma (SCC). According to the American Academy of Dermatology Association (AAD), every year acne affects around 50 million Americans in the United States. As per the National Center for Biotechnology Information, around 20% of infants & children and 3% of adults had atopic dermatitis worldwide.

The United States accounts for the highest market share due to the higher penetration of the prescription dermatological drugs. There is presence of the several market players developing prescription dermatological drugs. Several companies are entering into the collaboration with the companies for raising the awareness regarding the skin disorders being treated by using the prescription dermatological drugs. For instance, on 14th January 2022, Pfizer developed CIBINQO (abrocitinib) for adults, approved by the United States Food and Drug Administration for treating adults with refractory conditions moderate-to-severe atopic dermatitis (AD). Out of these affected adults, around 40% of adults have moderate or severe symptoms. The high healthcare expenditure for improving the healthcare facilities and infrastructure shall have the positive impact on the market over the forecasted period.

Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period

Asia-Pacific region is estimated to be the fastest-growing region in the global prescription dermatological drugs market owing to the increasing penetration of the prescription dermatological drugs as the large proportion of the population is suffering from the dermatology disorders with unmet medical needs. There is higher usage of the topical dermatological drugs such as anti-inflammatory agents, anti-infective, local anesthetics, cleansers, and emollients for treating acne. There is increasing adoption of the biologics for the treatment of moderate to severe dermatological diseases including the psoriasis, and other disorders. The growing beauty consciousness and obesity concerns shall have a positive impact on the market.

There is increase in the number of the clinical trials being conducted for evaluating the prescription dermatological drugs. There are rapid advancements in the development of the prescription dermatological drugs. There is rising investment and funding in the research and development activities by the several public and private market players to develop the prescription dermatological drugs. The growing medical tourism due to the availability of the affordable treatment options shall have positive impact on the market. There is improving access to skin care treatments in the several countries such as China, Japan, Australia and India shall increase the demand for the prescription dermatological drugs. The growing domestic income and purchasing power of people shall stimulate the market growth over the forecasted period.

Competitive Landscape:

The prescription dermatological drugs market studied is a fragmented market with the presence of large number of market players. Johnson & Johnson Inc., Merck & Co., Inc., Bayer AG, Pfizer, F. Hoffmann-La Roche, Allergan, Abbvie, Inc, Astellas Pharma, Inc, Biofrontera AG, Bristol-Myers Squibb, Dermira, Inc., Glaxosmithkline Plc, and Mylan N.V. are the major market players with the significant market share. Companies are adopting several growth strategies such as product launches, acquisitions, mergers, collaborations, and licensing for increasing their market presence. For instance,

Mergers & Collaborations:

In November 2019, Excelra had entered into the drug repurposing collaboration with Maruho, a pharmaceutical company specialising in Dermatology. Under the terms of agreement, Excelra would jointly work with Maruho's research team to discover and develop novel therapeutic hypotheses in Dermatology. This collaboration would also provide Maruho an access to Excelra's proprietary Drug Repurposing Platform (GRIP) that comprises of proprietary Repurposing Database, Repurposing Algorithms, Analytics tools and visualization engine.

Product Launch & Approvals:

In June 2019, Bausch Health Companies Inc. and its dermatology business, Ortho Dermatologics had launched the DUOBRII (halobetasol propionate and tazarotene) Lotion, 0.01%/0.045% in the United States. The DUOBRII formulation comprised of the unique lotion vehicle with low concentrations of halobetasol propionate and tazarotene, into a single, first-of-its-kind topical treatment.

In February 2019, Evolus, Inc had received the approval for the Jeuveau from the United States Food and Drug Administration (FDA) for the temporary improvement in the appearance of moderate to severe glabellar lines associated with corrugator and/or procerus muscle activity in adults.

Acquisition:

In February 2020, Eli Lilly and Company had acquired the Dermira, Inc. This acquisition had expanded the company's immunology pipeline with the addition of lebrikizumab, a novel, investigational, monoclonal antibody designed to bind IL-13 with high affinity that is being evaluated in a Phase III clinical development program for the treatment of moderate-to-severe atopic dermatitis in adolescent and adult patients, ages 12 years and older. Under the terms of agreement, Eli Lilly and Company had offered all outstanding shares of common stock of Dermira, at a price of $18.75 per share in cash.

On 19th August 2020, Johnson & Johnson announced it had agreed to acquire Momenta Pharmaceuticals, Inc. The acquisition deal with all cash transactions for approximately $6.5 billion. This acquisition Provides an opportunity for the Janssen Pharmaceutical Companies of Johnson & Johnson to broaden its leadership in immune-mediated diseases.

In July 2019, LEO Pharma had acquired the Bayer’s global prescription dermatology business. This acquisition would help the company to expand its therapeutic areas and bolster a global footprint. Under the terms of agreement, LEO Pharma would gain global product rights, except in Afghanistan and Pakistan. It also includes the production facility in Segrate, Italy.

Partnership:

In June 2020, Repurpose.AI, an artificial intelligence drug discovery company had entered into the open innovation partnership with LEO Pharma A/S, a global leader in medical dermatology, to discover and validate drugs to treat inflammatory and dermatology indications. This partnership would leverage Repurpose AI's ActivPred AI

Drug Discovery Platform, an unbiased drug, target and disease agnostic digital chemistry engine, to discover drug candidates for inflammatory skin diseases