Acne Vulgaris Treatment Market Analysis and In-depth Research to See Incredible Growth
According to a study published in the British Journal of Dermatology in 2015, 9.4% of global population was estimated to be affected by acne. Moreover, globally, acne is the eight most prevalent disease. The U.S. is the largest market for acne vulgaris treatment products. According to study by National Institute of Health (NIH), in 2013, over US$ 3 Billion was spent for treating acne vulgaris in the U.S. In 2014, according to American Academy of Dermatology, the number of acne vulgaris patient aged 25 years and above, especially women, is rising significantly. Furthermore, low awareness regarding the factors causing acne is another factor leading to increasing prevalence acne vulgaris.
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Treatment for acne on an average lasts for two years, therefore companies capitalize on this and earn sustainable revenue from acne treatment products. Majority of the population suffering from acne prefer OTC products as first line therapy. However, some have to visit dermatologist to cure acne vulgaris on account of ineffective result from OTC products.
Key players in the acne vulgaris treatment market are focusing on collaboration, acquisition, and new product development strategies in order to enhance their product offerings and sustaining their position in the market. For instance, in 2017, L’Oréal — a global beauty company — signed an agreement with Valeant Pharmaceuticals International, Inc. to acquire its skin care brands portfolio which includes anti-acne brand AcneFree at US$1.3 billion. Also, in November 2017 Novan Inc., announced its plans to conduct phase three clinical trial for its new anti-acne molecule.
Novan has unique nitric oxide technology, Nitrici, through which a timed release of nitric oxide from chemical entity is possible. This is beneficial as nitric oxide has natural ability to revitalize tissue, kill invading microorganisms, prevent clotting, regulate inflammation, and even aid in removing cancer cells. Moreover, in 2017, Valeant Pharmaceuticals International, Inc. signed an agreement with Haitong International Zhonghua Finance Acquisition Fund I, L.P, to sell its Obagi Medical Products business for US$ 190 million in cash. Obagi Medical Products have high presence in acne treatment products market.
Acne Vulgaris Treatment Market - Trends, Opportunity Analysis, 2018-2026 | Pfizer Inc., and Novan Inc., Allergan plc, GlaxoSmithKline plc, Valeant Pharmaceutical International Inc., F.Hoffmann-La Roche AG, Mylan, N.V., Bayer AG, Janssen Pharma Inc., Galderma Inc
New treatments such as cosmetic (laser, chemical peel, and photodynamic therapy) and surgical procedures are been developed for treatment of scarring. Increasing consumer inclination towards alternative way to treat acne vulgaris such as herbal therapy (tee tree oil), owing to low side effects is another factor expected to aid in growth of the acne vulgaris treatment market. Home-based devices for acne removal such as revive light therapy and neutrogena light therapy are gaining significant traction over the forecast period.
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Key players in the global acne vulgaris treatment market are Allergan plc, GlaxoSmithKline plc, Valeant Pharmaceutical International Inc., F.Hoffmann-La Roche AG, Mylan, N.V., Bayer AG, Janssen Pharma Inc., Galderma Inc., Pfizer Inc., and Novan Inc.
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