Acne Medication Market Revenue to Cross USD 13.1 Bn by 2027: Global Market Insights Inc.

According to the latest report, “Acne Medication Market by Formulation (Topical, Oral), Product (Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide, Azelaic Acid), Type (Prescription, OTC), Acne Type (Inflammatory Acne, Non-Inflammatory Acne), Distribution Channel (Retail Stores, Pharmacies & Drug Stores, E-commerce), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of acne medication will cross $13.1 billion by 2027.
Acne is an immune-mediated, prevalent skin disorder with high prevalence among young adults. Severe and inflammatory acne causes permanent scarring on the skin surface, compromising the facial appearance that may have an adverse impact on the quality of life. Due to the growing prevalence of acne and the desire to maintain healthy facial skin, the concerns related to facial aesthetics have been rising in Latin America. A study was conducted by the Journal of Drugs in Dermatology to study concerns associated with facial treatment priorities and skin health among Latin Americans. According to this study, the majority of the participants agreed that they aspired to maintain facial health to look good. A significant number of participants were interested in adopting treatments to maintain their skin health. Around 35% of the people were concerned about the adverse impacts of acne and scarring on the skin. Thus, growing concerns related to facial skin health would increase the adoption of acne medications across the region.
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Increasing concerns related to facial aesthetics especially in Latin America will boost product sales, which in turn will drive the acne medication market growth. With the population being highly cautious regarding their skin and looks, dermo cosmetics are gaining popularity and being increasingly used in Brazil. Moreover, the demand for facial aesthetics and skin health is growing in the region.
The topical medications segment dominated more than 66% of the acne medication market share in 2020 and is anticipated to reach over USD 8.6 billion by 2027 owing to higher compatibility and extensive use in combination with other acne treatment therapies. Topical medication is the first choice while treating mild to moderate acne conditions. It features high flexibility and can be combined with other acne treatments. Topical medications are superficially applied to infected skin surface and aid in reducing the acne-causing bacteria and prevents the skin from peeling and drying. Additionally, topical medications including benzoyl peroxide, which helps reduce the number of blackheads and whiteheads, further reducing the potential of a severe inflammatory acne outbreak.
The salicylic acid segment in the acne medication market accounted for 16% of revenue share in 2020 and is projected to grow at a 6.2% growth rate through 2027. Salicylic acid has been used extensively as a comedolytic agent in acne treatment. This agent is available as an over-the-counter preparation, including creams and lotions with variable strengths to suit the skin tolerance of the patient. Salicylic acid restrains comedogenesis by facilitating the desquamation of follicular epithelium. Several studies related to acne treatment have inferred that the use of salicylic acid is equally beneficial as the use of benzoyl peroxide in comedonal acne treatment.
The acne medication market for the OTC segment is estimated to expand at a CAGR of 6.2% by 2027 on account of the high popularity of OTC treatment options coupled with extensive marketing and promotional campaigns practiced by the industry players. OTC products are highly popular among the general population attributed to advertisement campaigns undertaken by the major players operating in the industry. This high popularity and awareness regarding acne treatment options further promotes the use of OTC products.
The inflammatory acne segment in the acne medication market is predicted to expand at a CAGR of 6.1% through 2027. Inflammatory acne represents the severe form of acne and is characterized by redness, swelling and irritation. Inflammatory acne can cause more serious and painful forms of blemishes including cysts and nodules. This acne is based deeper in the skin and possesses high potential of causing permanent scars. A growing number of people suffering with inflammatory acne would increase the demand for acne medication, thereby augmenting the industry growth during the forecast timeline.
The acne medication market for the e-commerce segment is poised to attain a CAGR of 7.4% during 2021-2027, led by the increasing preference for e-commerce and high usage during the COVID-19 pandemic. Presence and availability of OTC products on the e-commerce portals would further assist the market expansion. Rising consumer expenditure on medical supplies along with the increasing internet penetration is majorly facilitating the rising demand for the e-commerce segment.
Brazil dominated the Latin America acne medication market and accounted for over USD 211 million in 2020 propelled by the rising prevalence of acne conditions among adolescents and the growing demand for acne treatment in the country. According to a published survey, the prevalence of acne among 18-year-olds in Brazil was reported to be around 90%, with the majority of participants having both inflammatory and non-inflammatory lesions. Consultations with dermatologists related to acne conditions accounts for around 14% in the country. Rising concerns among the adolescents regarding acne diseases would foster the demand for acne medications.
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Some of the major companies operating in the market include Johnson & Johnson, Galderma S.A., Reckitt Benckiser Group, Guthy-Renker, Valeant Pharmaceuticals, and BioPharmX among others. These participants are undertaking several strategic initiatives such as collaborations, partnerships and product launches to expand their product portfolio and market presence.
Table of Contents (ToC) of the report:
Chapter 3   Acne Medication Market Insights
3.1    Industry segmentation
3.2    Industry landscape, 2016 – 2027
3.3    Industry impact factors
3.3.1    Growth drivers
3.3.2    Industry pitfalls & challenges
3.4    Growth potential analysis
3.4.1    By formulation
3.4.2    By product
3.4.3    By type
3.4.4    By acne type
3.4.5    By distribution channel
3.5    COVID-19 impact analysis
3.6    Regulatory landscape
3.7    Porter’s analysis
3.8    Competitive landscape, 2020
3.8.1    Company matrix analysis, 2020
3.9    PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/acne-medication-market
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Source: Global Market Insights Inc.