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The global dermatological drugs market size was valued at USD 22.59 billion in 2023, driven by the rising emphasis on improving physical appearance across the globe. The market is expected to grow at a CAGR of 11.3% during the forecast period of 2024-2032, with the values likely to rise from USD 25.1 billion in 2024 to USD 59.2 billion by 2032.
Dermatological drugs are used to treat skin conditions and disorders, ranging from common acne to severe diseases like skin cancer and psoriasis. They are available in numerous forms like ointments, gels, creams and oral, or injectable formulations. These drugs may reduce inflammation, redness and itching, along with treating bacterial and fungal infections.
The growing prevalence of skin conditions and increasing drug approvals are among the key factors driving the dermatological drugs market growth in recent years. In July 2023, the FDA approved Verrica Pharmaceuticals Inc's Ycanth for treating a viral skin infection in adults as well as children aged above 2 years. Such approvals demonstrate that the dermatological drug development will continue in the forecast period as well.
With a rising focus on meeting the needs of patients suffering from untreatable dermatological conditions, pharmaceutical organizations are continuously growing and improving their business portfolios. In October 2023, DermBoint raised USD 35.2 million in Series B for dermatological therapies. The funds were dedicated towards Phase II trials for drug candidates treating seborrheic keratoses and melasma.
The growing convergence of artificial intelligence in drug development is one of the key factors aiding the growth of dermatological drugs market demand. With the ongoing trend, companies are collaborating and acquiring artificial intelligence enabled platforms for increasing their drug development potential. For instance, in November 2023, Almirall and Absci announced a dermatological drug discovery partnership worth USD 650 million, with the help of Absci’s artificial intelligence enabled drug creation platform.
Market Breakup by Diseases
Market Breakup by Type
Market Breakup by Route of Administration
Market Breakup by End User
Market Breakup by Region
The United States has been leading the dermatological drugs market share, which can be accredited to the high prevalence of skin conditions, a well-structured healthcare framework, and critical focus on research and development. Cosmetic dermatology is gaining prominence, with emphasis on cosmetic surgeries, anti-aging treatments, along with injectables, contributing to the market size.
In Europe, there is a growing trend for personalized medicine, which is fuelling the market growth in the region. With the existence of influential healthcare companies and academic institutions, there is rising development of biologic therapies. In addition, a significant portion of the geriatric population also demands better patient care. Government authorities have also been supporting market growth by setting up awareness campaigns on skincare.
Holding a substantial portion of the world’s population, the Asia Pacific region is experiencing high dermatological drugs market demand. Emerging economies like India and South Korea are witnessing improvements in the healthcare and research infrastructures to serve better treatment alternatives to patients. In addition, foreign companies are making noteworthy investments to leverage the academic talent and easy availability of resources pertaining to the area.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Diseases |
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| Breakup by Type |
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| Breakup by Route of Administration |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 22.59 billion in 2023, driven by growing focus on improving physical appearance across the globe.
The market is anticipated to grow at a CAGR of 11.3% during the forecast period of 2024-2032, likely to reach a market value of USD 59.2 billion by 2032.
The market demand is driven by the rising number of drug approvals to meet the demands of untreatable skin conditions.
The major market trends revolve around the increasing integration of artificial intelligence into the medical scenario, which has streamlined the process of novel drug development. In November 2023, Almirall and Absci announced a dermatological drug discovery partnership worth USD 650 million, which aimed to use Absci’s artificial intelligence enabled drug creation platform.
Based on diseases, the market is divided into acne, dermatitis, psoriasis, skin cancer, rosacea, and alopecia, among others.
The types of drugs include prescription-based drugs and over-the-counter drugs.
Major end users include hospitals and homecare.
The route of administration can be oral, parenteral, and topical among others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Key players involved in the market are AbbVie Inc. (Allergan PLC)., Amgen Inc., Galderma, GlaxoSmithKline Plc., Leo Pharma, Johnson & Johnson, Novartis AG, Organon International (Merck & Co. Inc.), Pfizer Inc., Sun Pharmaceutical Industries Limited, Sanofi, Bausch Health Companies Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd and AstraZeneca.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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