Acne medication industry is anticipated to register 5.5% CAGR between 2023 and 2032 owing to growing awareness regarding the acne treatment options.
Selbyville, Delaware, Nov. 28, 2022 (GLOBE NEWSWIRE) —
The acne medication market value is set to surpass USD 17.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Increased consciousness regarding facial aesthetics may stimulate product demand. Over the years, people have become increasingly obsessed with having clear and glowing skin as it makes them feel attractive, desired, and confident. These desires, in association with the increasing prevalence of acne issues among adolescents and young adults, especially between 12 and 24 years of age, are likely to bolster the sales of acne medication.
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Acne medication market from topical segment is anticipated to witness over 5.5% CAGR from 2023 to 2032. Topical acne formulations contain several over-the-counter medications having chemicals, such as benzoyl peroxide, salicylic acid, adapalene, alpha hydroxy acids, and others, as their active ingredients. Topical antibiotics might reduce the occurrence of clogged pores and help reduce inflammation while controlling the growth of acne-causing bacteria. The lower risk of drug interactions and systemic adverse events involved in these medications will increase the topical market share.
Salicylic acid segment is primed to reach over USD 2.9 billion by 2032. Salicylic acid is a beta hydroxy acid that exfoliates the skin, smoothens skin texture, and reduces the occurrence of mild acne, whiteheads, blackheads, and breakouts. The product comes in different formulations, is highly affordable, skin-friendly, and is easily available across all sales channels, creating favorable growth prospects for the acne medication industry.
Browse key industry insights spread across 187 pages with 287 market data tables & 20 figures & charts from the report, “Acne Medication Market Statistics By Formulation (Topical, Oral), Product (Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide, Azelaic Acid), Type (Prescription, OTC), Acne (Inflammatory Acne, Non-Inflammatory Acne), Distribution Channel (Retail Stores, Pharmacies & Drug Stores, E-commerce), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/acne-medication-market
OTC medications to gain traction due to their effectiveness in treating mild to severe acne
Acne medication market from OTC segment garnered over USD 4.5 billion in 2022. The segment revenues are driven by the easy availability of a wide range of over-the-counter or non-prescription acne medications in the market and their high efficacy in treating mild to moderate acne. These medications involve lesser side effects, are relatively more affordable, and feel comfortable on the skin, thus are expected to gain significant traction.
Non-inflammatory acne segment value exceeded a valuation of USD 4.2 billion in 2022. Non-inflammatory acne is recognized by skin issues such as blackheads and whiteheads and rarely exhibits any redness, swelling, or inflammation. The increasing prevalence of the given skin condition in young adults and adolescents, coupled with their desire to have flawless skin, will foster product adoption and will prove conducive to market development.
Acne medication market from E-commerce segment is poised to depict more than 7% CAGR and record an estimated valuation of over USD 4.4 billion by 2032. The segmental gains can be credited to the proliferation of several online pharmacies offering a wide range of pharmaceuticals at competitive prices. E-commerce platforms ensure contactless doorstep product delivery services that gained tremendous popularity during the pandemic and may stimulate the industry statistics.
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North America acne medication market amassed more than 53% revenue share in 2022. The regional industry is backed by the surging incidences of people suffering from severe acne problems and the strong presence of leading market players in the region. Besides, people in developed economies such as the U.S. and Canada have been making significant expenditure to improve their facial aesthetics. The considerable rise in acne treatment procedures and dermatological examinations will fuel the regional landscape.
Notable players in the acne medication industry are Allergan (AbbVie), Galderma S.A., Reckitt Benckiser Group plc, Bausch Health, Stiefel Laboratories (GlaxoSmithKline plc), Bayer AG, Almirall SA, Paratek Pharmaceuticals, Teva Pharmaceutical Industries, Akorn Operating, LLC, Sun Pharmaceuticals, Pfizer, Inc., Viatris, Mayne Pharmaceuticals, and Procter & Gamble.
Partial chapters of report table of contents (TOC):
Chapter 3 Acne Medication Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 – 2032 (USD Million)
3.3 Industry impact forces
3.4 Growth potential analysis
3.5 COVID- 19 impact analysis
3.6 Regulatory landscape
3.7 Consumer trends
3.8 Merger and acquisition landscape
3.9 Gap analysis
3.10 Porter’s Analysis
3.11 PESTLE Analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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