Dermatology OTC Medications Market: Lucrative Opportunities
According to our latest study on "Dermatology OTC Medications Market Forecast to 2028 - COVID-19 Impact Analysis - by Product Type, Route of Administration, Indication, and Distribution Channel," the market is expected to grow from US$ 15,456.63 million in 2021 to US$ 21,313.40 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the dermatology OTC medications market.
The high prevalence of skin issues and rising income of the working class population are expected to support the global market growth. Nonetheless, the inappropriate use of OTC medications is restraining the growth of the dermatology OTC medications market. Skin issues, like pigmentation, wrinkles, creases, acne, and consume scars, are common among individuals. According to the American Academy of Dermatology Association (AADA), acne is the most common skin condition in the US, affecting ~50 million Americans annually. Additionally, ~85% of individuals from ages 12 to 24 experience minor acne issues. The expenses associated with acne treatment and lost human productivity among those receiving acne treatment surpassed US$ ~1.2 billion in 2013; more than ~5.1 million individuals, primarily kids and youthful adults were seeking medical treatment for acne in the same year. Further, 1 in 10 individuals creates atopic dermatitis, and it affects up to 25% of youngsters and 2-3% of adults, according to the AADA. In 2021, according to a survey conducted by Dermstore with 2,000 ladies across the US, young ladies started using products to decrease the indications of aging a whole lot earlier than more established ladies. Further, the European Commission (EC) has ranked skin diseases as the fourth most common cause of human sickness. Acne vulgaris is becoming more prevalent in each country. Dermatology OTC medications are generally used in the treatment of acne. Understanding the characteristics of acne vulgaris trouble is critical for developing compelling and targeted acne control therapies. According to the Global Weight of Disease Study 2019, 117.4 million incident cases of acne vulgaris, 231.2 million prevalent cases, and 5 million disability-adjusted life years (DALYs) were reported around the world, representing a 48% increase since 1990.
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Dermatology over-the-counter (OTC) drugs are sold straightforwardly to a consumer without a prescription from a healthcare professional, rather than prescription medications, which may be sold only to consumers possessing a valid prescription. In many nations, OTC medications are chosen by a regulatory agency to guarantee that they contain ingredients that are safe and viable when used without a physician's care. These medications are generally used in skin diseases, for example, dermatitis, acne, psoriasis, skin bleaching, fungal infections, and warts.
- By Product Type:
- Tablets and Capsules
- Gels
- Creams and Ointments
- Others
- Route of Administration
- Topical
- Oral
- Indication
- Dermatitis
- Acne
- Psoriasis
- Skin Bleaching
- Fungal Disease
- Warts
- Others
- Distribution Channel
- Online Distribution
- Offline Distribution
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