North America Topical Skin Treatment Market Size, Share & Trends Analysis Report By Therapeutic Area (Skin Cancer, Eczema, Psoriasis), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy), By Region, And Segment Forecasts, 2024 - 2030

North America Topical Skin Treatment Market Size, Share & Trends Analysis Report By Therapeutic Area (Skin Cancer, Eczema, Psoriasis), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy), By Region, And Segment Forecasts, 2024 - 2030

North America Topical Skin Treatment Market Growth & Trends

The North America topical skin treatment market size is anticipated to reach USD 12.45 billion by 2030, growing at a CAGR of 9.60% from 2024 to 2030, according to a new report by Grand View Research, Inc. The topical skin treatment market in North America is seeing steady growth, fueled by several key factors. Rising rates of skin conditions like acne, eczema, psoriasis, and dermatitis have created a growing need for effective treatments. Consumers are becoming more aware of skincare and showing a clear preference for over-the-counter (OTC) solutions, further boosting demand. Additionally, as the population ages, there is increasing interest in products that address skin aging concerns, such as wrinkles and age spots.

Advancements in biotechnology, especially in areas like nanotechnology and drug delivery systems, are paving the way for more effective and targeted treatments. The trend toward personalized skincare, driven by breakthroughs in genomics and artificial intelligence, is also a promising avenue for growth.

The market for topical treatments targeting Nonmelanoma Skin Cancer (NMSC) in North America is expected to witness significant advancements, particularly in innovative drug delivery systems like topical patches. These advancements aim to address the limitations of conventional topical therapies, such as poor drug penetration, local adverse effects, and patient adherence challenges.

Increasing consumer awareness about skincare and the availability of advanced acne treatments is one of the major factors expected to drive demand. The rise of e-commerce platforms, such as Amazon and Walmart, has made these treatments more accessible, contributing to the growth of retail and online pharmacies. Moreover, the convenience and variety offered by these platforms have encouraged more consumers to seek out and purchase acne treatments.

Continuous innovations in acne treatment options are crucial growth drivers. Companies like Sun Pharma and Galderma have introduced new products, such as Winlevi and TWYNEO Cream, respectively, which offer novel & effective solutions for acne treatment. These products provide better outcomes with fewer adverse effects, meeting the evolving needs of consumers and driving growth.

Strategic mergers & acquisitions, along with product launches, play a significant role in industry expansion. For instance, in January 2022, Journey Medical Corporation acquired FDA-approved topical minocycline products, expanding its product portfolio and geographical reach. In addition, in August 2021, Sun Pharma and Cassiopea partnered for the distribution of Winlevi in the U.S. and Canada, highlighting the strategic moves companies are making to enhance their commercial presence.

North America Topical Skin Treatment Market Report Highlights

• Based on therapeutic area, the Eczema segment dominated the market in 2023 and is anticipated to grow significantly over the forecast period. This growth is attributed due to the rising prevalence of eczema, increasing awareness, and growing pediatric and geriatric populations.
• Based on distribution channel, the retail pharmacies segment dominated the market in 2023. This dominance is attributed due to their widespread accessibility and consumer trust, convenience of obtaining products without a prescription, and personalized guidance from pharmacists.
• U.S. dominated the North America market for topical skin treatment owing to its robust healthcare infrastructure, high healthcare expenditure, and a well-established pharmaceutical industry. Furthermore, the availability of advanced treatment options, coupled with strong promotional efforts from pharmaceutical companies, ensures high consumer awareness and access.

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