Portland, OR, Oct. 19, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global acne medication market size was pegged at $11.86 billion in 2019, and is projected to reach $13.35 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027.
Increase in prevalence of acne diseases, surge in focus toward good quality skincare products, and unhealthy urban lifestyle drive the growth of the global Acne Medication Market. However, the side-effects associated with acne medications and availability of alternatives for acne treatment hamper the market growth. On the contrary, increased R&D to lessen the side effects would open new opportunities for the market players in the future.
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Covid-19 scenario:
- The majority of the dermatology clinic closed their services since the outbreak of Covid-19 and the number of hospitals and clinics is temporarily converted into Covid-19 centers.
- After several governments imposed social distancing norms and lockdown across the country, people have shifted toward telemedicine to treat acne diseases.
The global acne medication market is segmented on the basis of therapeutic class, formulation, type, acne type, distribution channel, and region. Based on therapeutic class, the market is divided into retinoids, antibiotics, salicylic acid, benzoyl peroxide, and others. The retinoid segment held the largest share in 2019, accounting for nearly one-third of the market. Moreover, the segment is projected to manifest the highest CAGR of 4.6% during the study period.
On the basis of formulation, the market is classified into topical medications and oral medications. The topical segment is expected to register the highest CAGR of 3.9% during the forecast period. Moreover, the segment dominated in 2019, accounting for four-fifths of the market.
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Based on type, the market is categorized into prescription medicines and over-the-counter medicines. On the basis of acne type, the market is divided into non-inflammatory acne and inflammatory acne.
The global acne medication market is analyzed across several regions such as Asia-Pacific, LAMEA, Europe, and North America. The market across Asia-Pacific is expected to portray the highest CAGR of 4.9% during the forecast period. However, the market across North America held the largest share in 2019, accounting for nearly half of the market.
The global acne medication market report includes an in-depth analysis of the major market players such as Almirall SA.,Bausch Health Companies Inc., Johnson & Johnson, GlaxoSmithKline Plc (GSK), Mayne Pharma Group Limited, Galderma S.A, Pfizer Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., and Sun Pharmaceutical Industries Limited.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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