Market Trends of Dermatological OTC Drugs Industry
Acne Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
Acne is one of the most common skin conditions around the globe and causes pimples primarily on the face, forehead, chest, shoulders, and upper back. Some of the symptoms of acne are whiteheads, blackheads, bumps, and pus-filled lumps under the skin, among others. While acne is most common in teenagers, it affects people of all ages, and that is why it is expected to occupy a major share of the studied market over the forecast period. Some of the OTC drugs for acne that are available on the market are Acne Clear, Differin, Plixda, Acnex, and many others. The high prevalence of acne and the easy availability of OTC products are the major driving factor for the market growth. For instance, according to an article published by Clinical, Cosmetic and Investigational Dermatology in August 2021, acne vulgaris (AV) is a chronic inflammatory skin disease arising from the pilosebaceous unit with a prevalence of up to 85% among all young people aged 12-24 years, 15%-20% of which are classified as moderate to severe. Thus, with the increase in acne in the adolescent population, the demand for dermatological OTC drugs increases, driving the market growth.
Furthermore, various company activities such as product launches, mergers, acquisitions, and collaborations are expected to augment the growth of the acne segment. For instance, in March 2022, Galderma announed the US launch of its "Twyneo" Cream, 0.1%/3% at the American Academy of Dermatology (AAD) Annual Meeting, March 25-29, 2022, in Boston, Massachusetts. TWYNEO Cream is the first and only 0.1% tretinoin and 3% benzoyl peroxide (BPO) 2-in-1 combination proven to rapidly treat moderate to severe facial acne. Such development is expected to drive the growth of the market.
Therefore, due to the above-mentioned factors, the acne segment is expected to grow and occupy a significant share of the studied market over the forecast period.
North America is Expected to Show a Significant Growth in the Dermatological OTC Drugs Market Over the Forecast Period
North America is projected to lead the global market due to the high prevalence of skin diseases, the presence of some of the major market players in the region, as well as high and easy availability of dermatological OTC drugs in the market. For instance, according to an article published by National Eczema Association, in March 2022, 31.6 million people (10.1%) in the U.S. have some form of eczema. It was estimated that 1 in 10 individuals develops eczema during their lifetime, with prevalence peaking in early childhood. Overall, 60% of individuals with atopic dermatitis (AD) received a definitive diagnosis within 12 months of initial symptom presentation. As per the March 2022 data from the National Eczema Association, 31.6 million people or around 10.1% of the population in the U.S. have some form of eczema, and prevalence peaks during early childhood. It also stated that 1 in 10 individuals is likely to develop eczema during their lifetime, with prevalence peaking in early childhood. Thus, the high prevalence of atopic dermatitis led to increasing demand for dermatological OTC drugs, thereby driving the market growth.
Additionally, in January 2023, Sun Pharma teamed up with dermatologist Dr. Sandra Lee on the TLC network to spotlight the role of hormones in the underlying cause of skin acne through a campaign called 'AH-ha! It's Acne Hormones'. The campaign will feature a diverse group of people of age, gender, and ethnicity and guide the population of the U.S. to follow an effective skin care regimen that may involve OTC products. Such an initiative is expected to drive the demand for dermatological OTC drugs.
Furthermore, an increase in product launches is expected to drive the growth of the market. For instance, in September 2021, the U.S. FDA approved Opzelura (ruxolitinib), a cream for treating mild to moderate atopic dermatitis in patients aged 12 years and older who are not able to use other topical treatments or failed to get enough symptom relief from other therapies. Such development is expected to drive the growth of the market over the forecast period.
Thus, owing to the aforementioned factors, the North American dermatological OTC drugs market is likely to grow significantly during the forecast period.
