Future of the Global Dermatological Drugs Market

2014-03-14
Published : Mar-2014

With rise in skin disorders amongst people and increase in awareness about different dermatological drugs, the global market for dermatology drugs has been on the rise. In the global pharmaceutical market, dermatological drugs are an important segment. Introduction of new drugs that has a higher efficacy rate as well as the launch of many generic drugs has contributed to the growth in the market. From the period from 2013 to 2018, the global market for dermatological drugs is expected to grow at a compound annual growth rate of 4.29 percent. Increase in global aging population and increased awareness about the wide variety of products available for treating various skin diseases are driving the growth in the market. As consumers continue to demand improved treatment from healthcare providers, the market for dermatology drugs is predicted to increase.

The dermatological drugs market is a broad market with great scope for development in different areas. The market for dermatological drugs can be segmented according the condition being treated. Based on basis of the condition being treated, the market can be sub-divided into five segments to include psoriasis, infectious skin diseases, acne, dermatitis and other skin conditions. The market is dominated by the psoriasis treatment. In the coming years as new drugs with increased efficacy are launched for the treatment of psoriasis, the market for dermatological drugs will continue to grow. In the acne and dermatitis market, there is prospect for high growth with the launch of generic drugs. By 2015, the worldwide market for dermatology drugs is expected to reach a value of 24.4 billion USD. With improved healthcare infrastructure, emerging markets in China and India will drive the growth of the dermatological drugs market.

Key players in the dermatological drugs market are Pfizer Inc., Johnson & Johnson, Merck & Co., Abbott Laboratories, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Takeda Pharmaceutical Company Ltd., Novartis AG and Galderma S.A. Development of innovative drug formulation with practical and patient-friendly delivery technologies is going to drive the dermatology drugs market. With increasing number of people suffering from skin problems and more number of people preferring non-invasive skin treatments, the market for dermatological drugs is poised to increase in the future.

Explore the latest market research report on dermatological drugs market @ http://www.sandlerresearch.org/global-dermatological-drugs-market-2014-2018.html

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