Healthcare Sector Comment: Dermatological drugs market set for considerable growth over the next few years

The global dermatological drugs market is expected to experience considerable growth over the next few years, with a market value of $33.7bn (€25.98bn) expected by 2022, a rise of more than 50% since 20151. As this market is heavily reliant on disposable income, and is therefore at risk with any economic downturn, we will keep a close eye on this over the coming months leading up to Brexit.

High frequency of skin cancer and other skin disorders across the globe is expected to increase the number of patients who will require diagnosis and treatment. The increase is largely driven by an ageing population, the popularity of sunbeds, as well as the lack of application of appropriate sunscreen protection whilst sunbathing. The growth in the number of conditions treated by topical drugs is also likely to increase, due to the availability of new solutions. Previously, conditions such as acne and rosacea have been treated with topicals, however ongoing R&D efforts focused on new indications such as hair growth, discoloration, and onychomycosis, seem to increase the range of uses for topical products and as a result, broaden the target market of topical dermatology drugs2.

Major players such as Johnson & Johnson, AbbVie, LEO Pharma, Amgen, Novartis and Roche Holding continue to dominate the global dermatology drugs market, and over the last three years we have seen these companies in particular become very acquisitive, in an aim to achieve increased market share and to consolidate the market.

1PRnewswire – Dermatology Market Worth $33.7 Billion by 2022
2Dermatology Drugs Market: Global Industry Analysis and Forecast 2017 – 2025

 

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