Global Dermatological Drugs Market Set to Surpass US$30 Billion with Advanced Nanotechnology and Aging Population Fostering Growth

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Feb 28, 2024, 05:45 ET

DUBLIN, Feb. 28, 2024 /PRNewswire/ -- The "Dermatological Drugs Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.

World revenue for Dermatological Drugs Market, in terms of value is forecast to surpass US$30 billion in 2024, with strong revenue growth through to 2034.

Geriatric Population Driving Demand for Dermatological Drugs

As the global population ages at an unprecedented pace, the dermatological drugs market is poised for a significant upswing. According to the World Health Organization (WHO), by 2050, 80% of older individuals will reside in low- and middle-income countries. The rapid acceleration in population aging, outpacing historical trends, is a key catalyst. As per WHO, by 2030, one in every 6 person will be aged 60 or over. Also, from 2021 to 2050, population aged over 65 in Asia will grow by more than half-a-billion, creating a burgeoning market for dermatological drugs. This demographic shift signifies an increased demand for skincare solutions tailored to age-related dermatological concerns, such as wrinkles, age spots, and skin conditions prevalent in the elderly. Thus, the coming years will mark a lucrative era for the dermatological drugs industry, driven by the unique needs of the expanding geriatric population.

Nanotechnology in Drug Delivery Could Revolutionize the Dermatological Drugs Market

In the dynamic landscape of dermatology, the integration of cutting-edge technological advancements in drug delivery is poised to propel the market to unprecedented heights. The advent of nanotechnology enables precise targeting of skin cells, enhancing the efficacy of dermatological drugs while minimizing side effects. This revolutionary approach ensures a more tailored and efficient treatment, boosting patient outcomes and satisfaction. Micro-needle technology is reshaping the administration of dermatological drugs. These minimally invasive devices painlessly penetrate the skin, facilitating controlled and sustained release of therapeutic agents. This not only improves patient compliance but also optimizes drug absorption, leading to quicker and more effective results. Several companies are actively researching and developing nanocarriers and smart delivery systems for skincare applications such as NanoVibronix (US) and Nanologica (Sweden).

Furthermore, the incorporation of smart polymers in drug formulations represents a paradigm shift in dermatological treatments. These polymers respond to specific physiological cues, releasing drugs at the right time and in the right amounts. This precision enhances therapeutic outcomes, reduces the frequency of application, and minimizes adverse reactions.

Forecasts to 2034 and other analyses reveal commercial prospects

In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Dermatological Drugs prices and recent developments.

Segments Covered in the Report

Route of Administration

Topical
Oral
Parenteral Administration

Disease

Psoriasis
Dermatitis
Acne
Skin Infections
Others

Prescription Mode

Prescription Drugs
Over-the-Counter (OTC) Drugs

Distribution Channel

Retail Pharmacies
Hospital Pharmacies
Online Pharmacies

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 21 leading national markets.

The report also includes profiles and for some of the leading companies in the Dermatological Drugs Market, 2024 to 2034, with a focus on this segment of these companies' operations.

Leading companies profiled in the report

AbbVie Inc.
AstraZeneca
Bayer AG
DermBiont, Inc.
F. Hoffmann-La Roche Ltd
GSK plc
Johnson & Johnson Services, Inc.
LEO Pharma A/S
Mayne Pharma Group Limited
Merck & Co., Inc.
Novartis AG
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
Roivant Sciences Ltd.
Teva Pharmaceutical Industries Ltd.
Verrica Pharmaceuticals

In summary, the report provides you with the following knowledge:

Revenue forecasts to 2034 for Dermatological Drugs Market 2024 to 2034, with forecasts for route of administration, disease, prescription mode, and distribution channel each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2034 for five regional and 21 key national markets - See forecasts for the Dermatological Drugs Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 16 of the major companies involved in the Dermatological Drugs Market, 2024 to 2034.

Key Topics Covered:

1 Report Overview

2 Executive Summary

3 Market Overview
3.1 Key Findings
3.2 Market Dynamics
3.2.1 Market Driving Factors
3.2.1.1 Increasing Prevalence of Skin Disorders
3.2.1.2 Growing Awareness and Patient Education
3.2.1.3 Globalization and Urbanization
3.2.1.4 Revolutionizing Dermatology: Unleashing Market Growth Through Advanced Drug Delivery Technologies
3.2.1.5 Innovative Breakthroughs: Propelling Dermatological Drugs Market Through Surging R&D Investments
3.2.1.6 Geriatric Population Driving Dermatological Drugs Market
3.2.2 Market Restraining Factors
3.2.2.1 Generic Competition
3.2.2.2 Adverse Effects and Safety Concerns
3.2.2.3 Drug Resistance
3.2.2.4 Non-Pharmacological Options: A Hindrance to Dermatological Drugs Market Growth
3.2.2.5 Limited Reimbursement and Coverage Challenges in Dermatological Drugs Sector
3.2.2.6 Regulatory Approval Process Poses Barriers to Dermatological Drugs Market Growth
3.2.3 Market Opportunities
3.2.3.1 Approval of Novel Dermatological Drugs
3.2.3.2 Advancements in Dermatology Research and Technology
3.2.3.3 Telemedicine and E-Health
3.3 COVID-19 Impact Analysis
3.4 Porter's Five Forces Analysis
3.5 PEST Analysis

4 Dermatological Drugs Market Analysis by Route of Administration

5 Dermatological Drugs Market Analysis by Disease

6 Dermatological Drugs Market Analysis by Prescription Mode

7 Dermatological Drugs market Analysis by Distribution Channel

8 Dermatological Drugs Market Analysis by Region

9 North America Dermatological Drugs Market Analysis

10 Europe Dermatological Drugs Market Analysis

11 Asia Pacific Dermatological Drugs Market Analysis

12 Latin America Dermatological Drugs Market Analysis

13 MEA Dermatological Drugs market Analysis

14 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/icaouj

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