According to the latest revised industry analysis from Persistence Market Research, the global acne treatment market was valued at over US$5.8 billion in 2020 and is expected to grow at a CAGR of nearly 6% over the period. forecast (2022-2031).
In the United States, acne affects approximately 50 million people each year. Rising rate of skin diseases is one of the major factors driving the growth of the global market. Acne is most commonly seen in teenagers, but can also be seen in people of all age groups.
According to the American Academy of Dermatology Association, more than 85% of people between the ages of 12 and 24 have suffered from minor acne at least once or twice, and it can continue into people in their 30s and 40s.
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The significant prevalence of acne has led to an increased awareness to consider skin treatment. This, in turn, is expected to fuel the demand for acne treatment products. As new drugs and treatments are needed to replace old methods such as antibiotics, acne research and development is generating avenues and opportunities for market players. As a result, various industry players are receiving approvals from regulatory authorities.
Some of the recent approvals include AKLIEF (trifarotene) Cream 0.005% (October 2019, Galderma SA), ARAZLO (tazarotene) Lotion, 0.045% (Bausch Health Companies Inc., December 2019) and ACZONE (DAPSONE) GEL (September 2019 , Almirall SA). Thus, the growing approvals support a positive outlook for the continued healthy growth of the market.
Company Profile :
• Galderma SA
• Lumenis Ltd.
• Alma Lasers, medical company Sisram
• Cutera inc.
• Almirall, SA
• Johnson & Johnson Services Inc.
• Bausch Health Companies Inc.
• Teva Pharmaceutical Industries Ltd.
• Stiefel Laboratories, a GSK company
• Candela Medical
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Key insights from market research
• By treatment, retinoid therapy will hold approximately 40% market share globally, primarily due to its effectiveness in controlling the spread of acne compared to other products and reducing the formation of acne scars. acne.
• Based on route of administration, topical route of administration leads with over 60% market share. Ease of application and greater availability of lotions, creams and gels are positively driving demand for topical products.
• Inflammatory acne is estimated to dominate the market by type. This segment accounted for approximately 53% market share. The significant scarring and pain associated with this type of acne is a key factor driving the segment.
• Institutional sales dominate acne treatment with a 52% market share. The growing number of dermatology clinics and growing preference for in-office acne treatment procedures to achieve faster results has had a positive impact on the growth of the market.
• By region, North America is expected to lead the global acne treatment market with a value share of approximately 44%.
Europe is expected to be the second largest region with a value share of 20% over the forecast period.
“Increasing prevalence of acne, preference for using combination treatments, and new product launches and approvals are expected to drive the market growth over the next few years,” says an analyst at Persistence Market Research.
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New product launches and approvals, agreements, collaborations and partnerships have become the key growth strategy adopted by industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprint and strengthening their existing product portfolios.
• In January 2021, Eligo Biosciences SA and GlaxoSmithKline PLC entered into a research collaboration to develop gene therapies to treat or prevent the growth of normal acne.
• In February 2020, Almirall SA entered into a license agreement with Paratek Pharmaceuticals, Inc. to expand Almirall’s Seysara in the Chinese market.
What does the report cover?
Persistence Market Research offers unique perspective and actionable insights into the acne treatment market in its latest study, presenting historical demand assessment from 2016 to 2020 and projections for 2021 to 2031.
The research study is based on the product (therapeutic treatment [antibiotics, retinoid therapy, hormonal drugs, anti-inflammatory drugs, and chemical peels] and devices [laser devices and radio frequency therapy]), route of administration (topical and oral), acne type (inflammatory and non-inflammatory acne), distribution channel (institutional sales [hospitals and speciality clinics) and retail sales [retail pharmacies, drug stores, and online sales]), in seven key regions of the world.
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This press release was published on openPR.