Prescription Dermatology Therapeutics Market Opportunity will Rise toUS$ 61,296.1 Mn by 2026

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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The global prescription dermatology therapeutics market is driven by intensive research to provide treatments and/or relieve the symptoms of chronic dermatological disorders. There is large patient population suffering from dermatology disorders with unmet medical needs and the number is increasing across the globe. Leading pharmaceutical companies are striving to address these unmet medical needs through new product development. Large number of both small molecules and biologic products are under different phases of clinical trials for the treatment of dermatology disorders. Companies have made significant investments in clinical R&D and have also established strategic partnerships and collaborations to accelerate new product development. For instance, as of March 31, 2018, Aurobindo Pharma had around 38 products under development in dermatology therapeutics in topical forms. Additionally, the company has around 24 products in the portfolio that need clinical trials. High prevalence and rise in incidence rates of chronic dermatological disorders with significant unmet medical needs are projected to propel the global prescription dermatology therapeutics market during the forecast period.

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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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The global prescription dermatology therapeutics market has been segmented based product type, distribution channel, and region. In terms of product type, the global market has been classified into acne & rosacea drugs, psoriasis drugs, dermatitis & seborrhea drugs, fungal infection drugs, skin cancer, and others. In terms of distribution channel, the global prescription dermatology therapeutics market has been categorized into hospital pharmacies, retail pharmacies, and mail order pharmacies.

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