Prescription Dermatology Therapeutics Market is Projected to be Worth US$ 61,296.1 Mn by 2026

The global prescription dermatology therapeutics market is growing at a rapid pace due to high prevalence and increase in incidence rate of chronic and infectious dermatological disorders, and new product development and commercialization across the globe. In terms of revenue, the global market was valued at US$ 27,580.0 Mn in 2017 and is projected to reach US$ 61,296.1 Mn by 2026, expanding at a CAGR of 9.5% from 2018 to 2026. The global prescription dermatology therapeutics market is also driven by rise in adoption of biologics for the treatment of moderate to severe dermatological disorders, especially psoriasis, and large patient population with unmet medical needs across the globe.

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Skin is the largest organ of the body and the first point of contact for microbes and toxins. It contains a rich habitat of microbes which results in various dysfunctions. This is where dermatology steps in. Dermatological disorders differ across the globe based on geographic location, climatic conditions, socioeconomic status, lifestyles, age, gender, heredity, and personal habits. The importance of skin has increased in the past few years. Large number of people is willing to treat various dermatological diseases due to awareness. Increase in the number of indications treated with topical drugs is projected to propel the global prescription dermatology drugs market.

According to the report, the global prescription dermatology therapeutics market was valued at US$ 27,580.0 Mn in 2017 and is projected to expand at a CAGR of 9.5% from 2018 to 2026. High prevalence of chronic dermatological disorders, large unmet medical needs, and new product approvals are anticipated to drive the global market in the next few years. North America is expected to dominate the global prescription dermatology therapeutics market during the forecast period, followed by Europe. Potential unmet medical needs for moderate to severe psoriasis and skin cancer, increase in adoption of biologic drugs, and new product approvals & launches in the U.S. and Europe are likely to drive the prescription dermatology therapeutics market in these regions during the forecast period. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period.

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High Prevalence and Rise in Incidence of Chronic and Infectious Dermatological Disorders Drive Market

High prevalence and rise in incidence rate of various chronic as well as acute dermatological disorders across the globe are the key factors driving the global prescription dermatology therapeutics market. According to the World Health Organization (WHO), over 900 million people were affected with skin diseases in 2017, and the five most common skin disorders account for around 80% of the skin disorders. Atopic dermatitis, a common and chronic inflammatory skin disease, affects 15% to 20% children and 1% to 3% adults across the world. According to the WHO, 2 million to 3 million patients are affected by non-melanoma skin cancer and around 132,000 melanoma skin cancers occur across the world each year. Hence, rise in incidence rate of dermatological disorders across the globe and increase in awareness about various skin diseases are projected to propel the global prescription dermatology therapeutics market during the forecast period.

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