The escalating prevalence of chronic acne globally will augment the acne medication industry growth in the forthcoming years.
The escalating prevalence of chronic acne globally will augment the acne medication industry growth in the forthcoming years. Reportedly, nearly 80% of the acne cases worldwide are caused due to genetic disorders. In 2015, approximately 633 million people worldwide were affected by acne, making it the eighth-most common disorder.
Excessive hormonal stimulation during puberty causes the oil glands to enlarge and secrete more oil and sebum. These are some of the primary causes of acne problems among teenagers. As per a recent study, the skin problem affects more than 85% of teenagers. Reportedly, the sales of acne medication among people aged between 10-16 years will rise considerably at a 6.8% CAGR in the forthcoming years.
According to a Global Market Insights, Inc., report, global acne medication market size will surpass US$7 billion by 2024. Described below are some key factors driving the need for effective acne treatments.
Growing sales of topical acne medication
The increased sales of topical acne products can be majorly attributed to their widespread application in treating moderate level acne. The availability of a wide array of products such as gels and creams containing benzoyl peroxide, salicylic acid, and antibiotics would benefit patients suffering from the different types of acne.
Notably, the topical acne medication industry accounted for a substantial revenue share of over US$2,914.3 million in 2017.
Demand for azelaic acid-based products
Azelaic acid is a common prescription drug which is used for the treatment of mild to moderate acne vulgaris. Azelaic acid-based skin care products are beneficial in reducing pore blockages, minimizing inflammation of acne blemishes, and improving post-inflammatory hyperpigmentation, making them highly preferable among consumers.
Reportedly, the azelaic acid product segment is projected to grow significantly at a CAGR of 7.6% up to 2024. A large pool of people suffering from severe acne problems will fuel up the demand and adoption rate of acne medication.
To access sample pages of this report titled, “Acne Medication Market Size By Formulation (Topical, Oral), By Product (Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide, Azelaic Acid), By Type (Prescription, OTC), By Age Group (0-10 years, 11-16 years, 17-25 years, 26-40 years, 41-60 years, 61-80 years, 80+ years), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast 2024” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3010
Rising occurrence of acne problems in the U.S.
U.S. acne medication market size was valued at nearly US$2,331.5 million in 2017 and is slated to grow substantially by 2024. Unhealthy eating habits, the growing trend of consuming fast-food, and excessive utilization of chemical-based cosmetics to enhance aesthetics have resulted in an increased number of acne problems among Americans.
As per the American Academy of Dermatology, acne problems are considered the most common skin disease in the country that affects nearly 50 million people annually. In addition, more than 15% of these individuals have chronic acne that causes scarring of the skin.
Growing trend of facial aesthetics in Brazil
Growing awareness regarding facial aesthetics in Latin America would boost demand for acne medication products. According to a survey, nearly 61% of Brazilians think that facial aesthetics or physical appearance plays a major role in achieving social success. Growing consciousness among the people towards their physical appearance will create a need for affordable and effective acne treatment products and medication.
Leading companies constituting the acne medication market include Bayer Healthcare, Valeant Pharmaceuticals, Galderma, Allergan, and Johnson & Johnson. These firms are majorly emphasizing on growth and expansion strategies such as acquisitions, mergers, and new product development to consolidate their global market position.
Acne medication side effects depend on the method and type of treatment used to nurse acne problems. The commonly caused side effects of topical drugs are skin dryness and irritation, and on the other hand, oral drugs cause upset stomach, lightheadedness, and dizziness. Such side effects of acne medication could lower its demand and impact the high adoption rate for aesthetic purposes. However, ongoing R&D activities pertaining to the formulation of effective acne medication will bolster the industry outlook.
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