Market Analysis - Research in Clinical Dermatology (2019) Volume 2, Issue 1
Market Analysis - 5th International Congress on Dermatology and TrichologyDr. Safwan Al-adwan
Consultant Dermatologist, Dept of Dermatology, Harvard University, Worcester, USA, E-mail: [email protected]
Growth in the dermatology market is expected to accelerate in coming years due to a confluence of factors including an aging population, rising disposable incomes and increased health insurance coverage. Due to positive outlook and unmet demand, the industry has undergone impressive growth and consolidation, largely driven by private equity. The market is currently characterized by high fragmentation, growing volumes and high multiples. The dermatology market is largely separated into three different sections; Mohs, cosmetic and general surgery. Of these, general dermatology is that the largest segment by revenue because it encloses the best type of diseases and treatments.
The size of the global dermatology devices market will increase USD 1.17 billion between 2017-2022, accelerating at a CAGR of almost 7% during the forecast period. This growth in market size will be attributed to numerous factors including rising non-refundable incomes, an aging population, increased health insurance coverage, and the growing need for early diagnosis of Cosmological conditions.
As the dermatology devices market grows, so too will the market for dermatological drugs. The 2018 year-over-year growth rate for the global dermatological drugs market was 10.37% and it is expected that the market will grow nearly USD 8.5 billion between 2017-2022. There is a large demand for stable and safe drugs that require minimal observing because most of the drugs that are used to treat severe dermatologic conditions are associated with neuropsychiatric adverse effects.
The global skincare market is powerful growing and expansive, starting from prescribed drugs to over-the-counter drugs to cosmetic products. The global dermatology market (OTC and prescription) is vast and evolving quickly with forecasts that indicate a global market of €81.9 billion in 2028, growing significantly from €44.1 billion in 2018.
There will be a significant increase in the demand for devices such as dermatology lasers because of the rising adoption of medical and aesthetic laser technologies. The demand for these lasers is also high in APAC. This requirement for safer drugs will fuel the growth of the global dermatological drugs market through 2022. Most of the demand for these dermatology devices is from the Americas, where countries such as the US and Brazil are the key markets. By 2023, the dermatology lasers market will grow at a CAGR of over 15% in the Americas. The adoption of anti-aging treatments is increasing in Asian countries where there is a high preference for skin rejuvenation treatments to minimize the signs of aging. European countries like Italy, France, and Gemany also are major markets for dermatology devices.
This report covers every dermatological issue; however there is a specific concentrate on three key sicknesses: atopic dermatitis, skin break out vulgaris and psoriasis, as these conditions have the most noteworthy commonness and the biggest pipeline. The worldwide dermatology market was esteemed at $20.0 billion in 2015, mirroring a five-year CAGR of 2.6%. BRIC (Brazil, Russia, India, China), the quickest developing district of the worldwide dermatology advertise with a five-year CAGR of 6%, ought to aggregate more than $4.6 billion by 2020 and is anticipated to develop at an extensive Compound Annual Growth Rate (CAGR) of 7.73%, achieving $33.7 billion in 2022. Key drivers of this growth will be the take-up of as of late affirmed premium biologics, and additionally encouraging late-arrange items that are relied upon to be very significant.
Worldwide incomes for the dermatology market are conjecture to develop at a CAGR of 7.73%, from $20 billion in 2015 to $33.7 billion in 2022.
Organizations are again entering the dermatology part by expanding the signs of existing items into dermatology. This report primarily examines professionally prescribed medications utilized as a part of the treatment of skin ailments. Skin conditions are among the most widely recognized medical issues among most national populaces, altogether surpassing the predominance of conditions, for example, weight, hypertension and growth. The significant expenses of skin sicknesses incorporate doctor visits, healing facility mind, physician-endorsed drugs and over-the-counter items for treating or dealing with these conditions, and also backhanded expenses because of efficiency misfortunes.
The dermatology showcase confronts a time of progress following quite a long while as a generally unassuming and moderate developing part inside the general pharmaceutical environment. Inventive treatments for a few skin infections have empowered restored enthusiasm for this market among real pharma organizations. New players have developed as serial acquisitions took little to medium-estimate organizations into bigger ones.
Most huge Pharmaceutical organizations joined the dermatology advertise with topical steroids in sight of particles initially produced for other remedial territories. The low costs for built-up items and the lack of new creative solution items in dermatology neglected to provide them with the development they looked for. Moreover, the event of cosmeceuticals and therefore the enlistment of dermatology items as restorative gadgets meant to expand within the OTC segment.
The global aesthetic medicine market is predicted to succeed in USD 11.9 billion by 2022, the market growth mainly includes in aging population, increasing income , and increased awareness about cosmetic surgeries. The research analyst predicts the worldwide medical aesthetics market to grow steadily at a CAGR of roughly 10.8% by 2020. The invasive aesthetic procedures are set to grow at a CAGR of 4.3%, while non-invasive procedures will grow at a CAGR of 4.5% over the coming five years. Recent advances in technologies, especially within the laser-based medical aesthetic segment, are expected to drive market growth during the forecast period. Medical laser technologies like high intensity focused ultrasound, transdermal focused ultrasound, et al. are rapidly gaining popularity among the populace as they're non-invasive and help in fat reduction. The North American market accounts for about 45% of the worldwide market. However, the dominance of the U.S. is shifting towards Asia, particularly within the energy- based devices segment. Asia is considered subsequent frontier and therefore the number of physicians and clinics in China and India has been steadily rising, along side medical tourism within the region. In the injectables and devices category, the E.U. occupies the second position behind the U.S. Brazil continues to be a robust marketplace for aesthetics and cosmetic procedures. Allergan, Inc. (Ireland), Cynosure, Inc. (U.S.), Lumenis Ltd. (Israel), Mentor Worldwide LLC (U.S PhotoMedex, Inc. (U.S.), Solta Medical, Inc. (U.S), Syneron Medical, Ltd. (Israel), Galderma S.A. (Switzerland), and ZELTIQ Aesthetics, Inc. (U.S.) are a number of the most players within the global medical aesthetics market.