The Dermatology OTC Medications Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dermatology OTC Medications Global Market Report 2024, 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.
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.
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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
Major companies operating in the dermatology OTC medications marker are innovating new drugs such as anti-fungal treatment solution to increase their profitability in the market. Canesten is an antifungal medication available in various forms such as cream, topical solution, and combination products. For instance, in May 2022, Bayer AG, a Germany-based pharmaceuticals company launched Canesten. It is used to treat fungal skin infections, such as vaginal thrush, ringworm, athlete’s foot, diaper rash, and sweat rash. Clotrimazole, an antifungal agent that works by both killing and preventing the growth of fungus, is the active ingredient in Canesten products. Canesten is an over-the-counter (OTC) medication that is generally regarded as safe to use while nursing or pregnant.
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 Impact Of COVID-19
5.Dermatology OTC Medications Market Size And Growth
6.Dermatology OTC Medications Segmentation
7.Dermatology OTC Medications Regional And Country Analysis
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27.Dermatology OTC Medications Competitive Landscape And Company Profiles
28.Dermatology OTC Medications Key Mergers And Acquisitions
29.Dermatology OTC Medications Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- Johnson & Johnson
- AbbVie Inc.
- Bayer AG
- Novartis AG
- Bristol Myers Squibb Co
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