Categories: Healthcare

Dermatology OTC Medications Market Growth Outlook Through 2024-2033

Overview and Scope

Dermatology OTC medications are non-prescription drugs used to prevent and cure conditions affecting the skin, hair, nails, mouth, and genitalia. This type of drug is used by the public safely and effectively without seeking treatment from a health practitioner.

Sizing and Forecast

The dermatology otc medications market size has grown steadily in recent years. It will grow from $15.32 billion in 2023 to $15.96 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to regulatory changes, demand for convenience, influence of skincare trends, consumer-driven demand, marketing and advertising.

The dermatology otc medications market size is expected to see steady growth in the next few years. It will grow to $19.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising skin health awareness, global aging population, environmental factors, sustainability and clean beauty, telemedicine and remote consultation. Major trends in the forecast period include niche condition-specific products, gender-neutral skincare, multi-functional products, microbiome-friendly skincare, cbd-infused products.

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Segmentation & Regional Insights

The dermatology otc medications market covered in this report is segmented –

1) By Type: Tablets And Capsules, Oils Gels, Creams And Ointments, Other Types
2) By Indication: Dermatitis, Acne, Psoriasis, Skin Bleaching, Anti-Fungal, Wart Remover, Other Indications
3) By Route Of Administration: Topical, Oral
4) By Distribution Channel: Online Distribution, Offline Distribution

North America was the largest region in the dermatology OTC medications market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dermatology otc medications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increase in skin abnormalities is expected to propel the growth of the dermatology OTC medication market going forward. A skin abnormality refers to a skin lesion or strange appearance of the skin. In dermatology, over-the-counter drugs are used to treat skin abnormalities and normalize the skin. The demand for over-the-counter dermatology medications is rising because of increased treatment requirements for skin abnormalities, including psoriasis. For instance, in August 2021, according to the Centers for Disease Control (CDC), a US federal government agency for the prevention and control of diseases, more than 7.5 million people in the USA and over 125 million people globally suffered from psoriasis, one of the most prevalent chronic cutaneous dermatitis. Therefore, the increase in skin abnormalities is driving the growth of the dermatology OTC medication market.

Key Industry Players

Major companies operating in the dermatology otc medications market report are Pfizer Inc., Johnson & Johnson, AbbVie Inc., Bayer AG, Novartis AG, Bristol Myers Squibb Co, GlaxoSmithKline Plc, Acella Pharmaceuticals LLC, Eli Lilly and Company, Amgen Inc., Allergan plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Astellas Pharma Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Inc., Perrigo Company PLC, Galderma S.A., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Lupin Limited, LEO Pharma A/S, Almirall S.A., Concert Pharmaceuticals, Arcutis Biotherapeutics, Dermavant Sciences, Roivant Sciences Inc

The dermatology otc medications market report table of contents includes:

1. Executive Summary

2. Dermatology OTC Medications Market Characteristics

3. Dermatology OTC Medications Market Trends And Strategies

4. Dermatology OTC Medications Market – Macro Economic Scenario

5. Global Dermatology OTC Medications Market Size and Growth

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32. Global Dermatology OTC Medications Market Competitive Benchmarking

33. Global Dermatology OTC Medications Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Dermatology OTC Medications Market

35. Dermatology OTC Medications Market Future Outlook and Potential Analysis

36. Appendix