Acne Medication Market Scope
Acne also called as acne vulgaris, is a long-term skin disease that arises when hair follicles are blocked with dead skin cells and oil from the skin. Acne presence is considered by blackheads, whiteheads, pimples, oily skin, and possible scarring. Acne appearance can lead to anxiety and reduced self-esteem. Acne medications are drugs that are specified for the treatment of acne. Acne medication include several counter medicines such as retinoid, isotretinoin, antibiotics, salicylic acid, benzoyl peroxide, oral contraceptives and many more. Numerous factors such as fluctuating hormone levels, unhygienic lifestyle and excessive production of oil from sebaceous glands have increased the prevalence of acne, thereby driving the market growth. Though products are considered safe, in past FDA has released causes for concerns regarding acne products containing the active ingredients benzoyl peroxide or salicylic acid which could cause rare but serious life-threatening allergic reactions for long duration. Other symptoms of acne medication can be counted as shortness of breath, wheezing, and low blood pressure, and swelling of eyes, face, and lips. Therefore, safety issues regarding these products and availability of substitutes like laser treatment are expected to hamper the growth of acne medication market.
According to AMA, the Global Acne Medication market is expected to see growth rate of 4.1%Key players are adopting numerous strategy to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnership to adopt certain technologies and acquiring small players to finish competition in the future.
Allergan plc (Ireland), Galderma S.A. (Switzerland), LG Chem. (South Korea), BohusBioTech AB (Sweden), Imeik Technology Development Co Ltd (China), Bloomage Freda Biopharm Co. LTD (China), Sinclair Pharma Plc (United Kingdom), Merz Pharma GmbH & Co. KGaA (Germany) Sanofi Aventis (France) and Suneva Medical (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Stiefel (United States), Valeant (Canada) and Bayer HealthCare (Germany).
Segmentation Overview
The study have segmented the market of Global Acne Medication market by Type (Injection and Oral), by Application (Hospital and Clinic) and Region with country level break-up.
On the basis of geography, the market of Acne Medication has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Development of effective therapeutics with lesser side effects, Increasing looks consciousness among people and Enhancement in product usefulness
Market Growth Drivers:
Increasing acne problems due to imbalance in diet, insomnia, stress and tension, enhancements in acne medication treatments, Increasing number of patient due cosmetics side effects, Losing natural hydration due to pollution leads to increase in acne problems and Large number skin consciousness people
Restraints:
Side effects like swelling, redness, and irritation and Presence of alternative such as laser treatment
Opportunities:
Continuously Increasing pollution and atmospheric heat, Increasing number of people with hectic lifestyle, Minimizing costs required for the acne treatments and untapped markets in the emerging economies
Market Leaders and their Expansionary Development Strategies
In June 2021, Hims & Hers Health, a direct-to-consumer virtual care company, is set to enhance its skincare services through the acquisition of the teledermatology platform Apostrophe. The financial details of the acquisition remain undisclosed. This move comes shortly after Hims & Hers Health revealed its acquisition of British telehealth company Honest Health, demonstrating its intent to expand further in the United Kingdom and enter the European Union market. Apostrophe specializes in skincare solutions and provides patients with access to topical and oral medications.
In June 2023, Sun Pharma collaborated with renowned television personality and dermatologist Dr. Sandra Lee, popularly known as Dr. Pimple Popper on the TLC network. The purpose of this partnership is to shed light on the significant role of hormones as the underlying cause of skin acne.
Key Target Audience
Manufacturer, Raw material supplier, Distributors/traders/dealers, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.