Global Acne Treatment Market Size 2013-2017 | Forecast 2018-2024
The acne treatment market report gives the comprehensive outlook on acne treatment options across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (MEA). This report on acne treatment market gives historical, current, and future market sizes (US$ million) of product types, medication type, acne types, route of administration, distribution channels, and geographic regions. This report studies acne treatment market dynamics elaborately to identify the current trends & drivers, future market opportunities and possible challenges to the key stakeholders operating in the market. In addition, acne treatment market report includes recent product launches, regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the acne treatment market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
The Global acne treatment market estimated to be valued US$ 5,145 million in 2017 and poised to grow at CAGR of 5.0% over 2017 to 2023. A market for acne treatment products projected to reach US$ 6,896 million by 2023 owing to rise in prevalence of acne across the global and increase in disposable income.
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The global acne market is categorized as follows-
1. Product type
• Antibiotics
• Retinoid Therapy
• Hormonal Drugs
• Anti-Inflammatory Drugs
• Chemical Peels
• Radiofrequency Devices
• Laser Devices
2. Medication Type
• Prescription
• OTC
3. Acne Type
• Inflammatory Acne
• Non-Inflammatory Acne
4. Route of Administration
• Oral
• Topical
• Parenteral
5. End-users
Hospitals, clinics, drug stores, retail and online pharmacies.
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And lastly on the basis of geographical regions, the global acne market is divided into five major regions such as North America, Europe, the Middle East & Africa, Asia-Pacific and Latin America. North America leads the global acne treatment market in terms of revenue in 2016 and projected to remain dominant across the forecast period owing to the availability of various treatment options and awareness among the young population. Asia Pacific presented better growth opportunities for the market players owing to the availability of large pool of young population who seek better treatment for acne.
Some of the key players in the global acne treatment market include GlaxoSmithKline plc (Stiefel Laboratories Inc.) (U.K), Nestlé (Galderma S.A.) (Switzerland), Valeant Pharmaceutical International, Inc. (Canada), Johnson and Johnson Services Inc., (U.S), Allergan plc. (Ireland), Cipher Pharmaceuticals Inc. (Canada), Teva Pharmaceutical Industries Ltd. (Israel), Bayer AG (Germany) are name to few.
Market players are focusing on mergers and acquisitions to improve their market position in acne treatment market. For instance, in 2014, Nestlé acquired Galderma S.A., a dermatology company, to strengthen market position. Moreover, market players are launching generic versions to gain larger market revenue share. For instance, in July 2017, Teva launched generic version of Epiduo (adapalene and benzoyl peroxide) gel 0.1%/2.5% in the US for the treatment of acne.
The change in lifestyle of millennial and Gen X populations has changed the social habits of the young population, which is considered as the factor for early onset of acne among the young population. The early onset of acne in younger population prompts the patients to seek the various treatments for acne that in turn increases the demand for acne treatment product in the market. Moreover, psychological effects associated with acne such as anxiety and depression in a young patient pool is expected to create demand for OTC acne products over the forecast period. Several publications noted that psychological burden is very high among acne sufferers, which has created the better market opportunity for market players across the globe.
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The rise in disposable income and out-of-pocket healthcare expenditure in several developing and developed economies has created the market demand for acne treatment products across the globe. Increase in disposable income has prompted the patients to seek better treatment options for acne and several other diseases. Moreover, the rise in acne awareness among young population owing to targeted marketing campaigns by several multinational players is expected to drive acne treatment market in upcoming years.
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