Skin Diseases Treatment Industry Data Book Covers Actinic Keratosis Treatment, Atopic Dermatitis, Alopecia and Acne Drugs Market.
Global skin diseases treatment industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, and macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research. The following data points will be included in the final product offering in five reports and one sector report overview.
Actinic Keratosis Treatment Market Analysis & Forecast
The global actinic keratosis (AK) market was valued at USD 6.42 billion in 2022 and is anticipated to witness growth at a rate of 4.20% over the forecast period. Untapped opportunities, the growing prevalence of atopic dermatitis, and the rise in adoption of biologics are anticipated to propel the market growth over the forecast period.
Moreover, ongoing product approvals and a surge in product launches are other factors contributing to market growth. For instance, in February 2021, Almirall launched its topical AK treatment in the U.S. In addition, hospitals such as Mount Sinai, Metro East Dermatology, and Skin Cancer Center, among others, offer multiple treatment options for AK. For instance, Mount Sinai group of hospitals offers cryosurgery, topical therapy, chemical peels, and PDT for its management.
According to the American Academy of Dermatology Association, more than 40 million Americans develop AK each year and according to the NEWS Medical, the overall rate of AK in the U.S. is estimated to be about 26.5% in males and 10.2% in females. Thus, the prevalence of the disease is higher in men as compared to women. In addition, according to Skin Cancer Foundation, around 58 million Americans have one or more AK. This is the most common precancerous condition to occur on the skin damaged by UV rays. Solar keratosis is an alternative name for AK. If it is not treated in time, then it can develop into SCC, a common type of skin cancer, and it is estimated that around 5% to 10% of AK can develop into SCC.
Atopic Dermatitis Market Analysis & Forecast
The global atopic dermatitis market was valued at USD 14.19 billion in 2022 and is anticipated to witness growth at a rate of 8.70% over the forecast period. Untapped opportunities, the growing prevalence of atopic dermatitis, rise in the adoption of biologics are anticipated to propel the market growth over the forecast period.
Continuous itching of the skin has heightened the adoption rate of topical ointments and creams. For instance, as per the National Eczema Association, 85.8% of people suffering from the condition report daily itching, which makes the adoption of fast-acting topical agents more likely when compared to oral drugs. Increased frequency of hand-washing has increased the appearance of dry and cracked skin in atopic dermatitis patients making them susceptible to infections. The increased number of hand eczema cases is creating an opportunity for the market players to develop ointments and creams with moisturizer bases to capture this untapped opportunity.
Topical corticosteroids are the first-line treatment for Atopic Dermatitis (AD). They work by mimicking natural hormones in the body and suppressing the immune system. Corticosteroids are available in various potencies and administered on the basis of the severity of the disease. The introduction of biologics has caused a paradigm shift in the therapeutic setting for AD. Biologics was the largest revenue-generating segment, which is attributed to increased penetration and high usage of the FDA-approved drug Dupilumab. The novel mechanism of target specificity provided the drug offers it a competitive edge in the market. Furthermore, the high price of this drug is likely to accelerate segment growth. However, the others segment is anticipated to witness the highest growth over the forecast years owing to the presence of JAK inhibitors in the pipeline.
Order Free Sample Copy of “Skin Diseases Treatment Industry Data Book – Acne, Actinic Keratosis, Atopic Dermatitis, Alopecia Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” published by Grand View Research
Alopecia Market Analysis & Forecast
The global alopecia market was valued at USD 8.19 billion in 2022 and is anticipated to witness growth at a rate of 8.74% over the forecast period. The significant growth rate can be attributed to the increased number of patients opting for dermatological drugs for the treatment of alopecia and the increasing interest of major pharmaceutical giants in the development and commercialization of novel drugs.
In June 2022, FDA approved baricitinib for the treatment of alopecia areata severe cases. Prior to the approval, the treatment was limited to the areas of hair loss, which limited the treatment scope. Smaller players such as Concert Pharmaceuticals are focusing only on developing treatments for alopecia with two successful phase III trials and the drug is projected to launch between 2023-2024. Unmet need and huge revenue generation opportunity is attracting players to the market.
The growing prevalence of alopecia is one of the crucial factors driving market growth. As per the American Hair Loss Association, it was stated that over 95% of hair loss in males is triggered by androgenetic alopecia. The occurrence of hair loss in men increases proportionately with age. Based on the report published by the International Society of Hair Restoration Surgery, it was estimated that nearly 40% of men encounter some degree of hair loss by 35 years of age, 65% at 60 years, 70% at 80 years, and 80% at the age of 85.
Acne Drugs Market Analysis & Forecast
The global acne drugs market size was valued at USD 8.43 billion in 2022 and is anticipated to witness growth at a rate of 4.74% over the forecast period. The rising importance of aesthetics among the population, unhealthy lifestyle, and increased preference for pharmaceutical drugs over OTC cosmeceutical treatments is driving the market growth.
Acne impacts as many as 85% of the population aged 12-24 years and the number is as high as 50 million each year in the U.S. The global prevalence rate for acne is 9.4% which creates a high demand for acne-associated therapeutic products. The Pandemic hampered market growth for acne drugs attributable to limited access to dermatologists, thereby leading to a significant decline in the number of patients receiving prescription drugs. However, the number of patients increased post-pandemic with the rise in patient visits.
High demand for over the counter and topical treatments is significantly influencing the market growth with an increase in awareness regarding the usage of pharmaceutical products. The escalating number of competitors focusing on the launch of products in the segment is intensifying the competition. For instance, in March 2022, Galderma announced the launch of an acne vulgaris treatment topical cream. The prescription of a multi-step regimen is common for acne; however, this drug allows once-daily treatment, thus making its adoption easier.
Go through the table of content of skin diseases treatment industry data book to get a better understanding of the Coverage & Scope of the study.
Key players operating in the skin diseases treatment industry are –
• Pfizer Inc.
• AbbVie Inc.
• Sun Pharmaceutical Industries Ltd.
• GSK plc.
• Amgen Inc.
• Eli Lilly and Company
• UCB
• Novartis AG
• Johnson & Johnson
• Galderma S.A
• AstraZeneca plc
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : PRSync – http://prsync.com/grand-view-research-inc/skin-diseases-treatment-industry-innovations-and-the-rapid-rise-beyond-belief-3948113/