Acne Treatment Market Overview
Acne refers to a skin condition that occurred due to the clogging of hair follicles with oil or dead skin cells. Although a common skin disorder mostly found in teenagers, Acne can be persistent even after treatments. Many novel medicines & therapies have been developed to treat the symptoms of Acne, which, in turn, are escalating the sales of acne treatment products and its market on the global platform.
Considering the exponential traction, the market perceives currently; Market Research Future (MRFR), in its recently published study report asserts that the global acne treatment market will accrue colossally by 2023, posting approximately 5 % CAGR throughout the forecast period (2017 – 2023). The increasing prevalence of the acne and growing teenage population are two of the key driving forces that are pushing up the growth in the market.
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Environmental changes such as depletion of ozone layers and pollution foster the market growth, predominantly increasing the occurrences of Acnes. Additionally, factors such as the increasing population and growing urbanization coupled with the spreading awareness towards the availability of treatments contribute to the market.
Simultaneously, improving economic conditions are providing impetus to the market growth, enabling access to the quality life and improving the quality of healthcare, worldwide. Moreover, substantial investments put in the R&D activities for the innovation & development of new medical devices, treatments & medicines foster the growth of the market, excellently.
On the flip side, factors such as the unmet medical needs, drug resistance, and the high treatment costs are impeding the growth of the market. Nevertheless, factors such as technological advancements are expected to support market growth, presenting more advanced and cost-effective treatments.
Acne Treatment Market – Segmentations
For enhanced understanding, the market has been segmented into five key dynamics:
By Type: Cystic Acne, Inflammatory Acne, Post-Surgical or Wound Acne among others.
By Treatment: Therapeutic Devices (lasers, micro-dermabrader, dermabraders, others), Medication {Retinoid (adapalene, tretinoin, & others), Antibiotics (erythromycin, clindamycin, others), others}, and others.
By Treatment Modalities: Topical, Oral, and others.
By End-user: Hospitals and Clinics among others.
By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Acne Treatment Market – Regional Analysis
The North American region, heading with the huge number of patient population, dominates the global acne treatment market with the largest market share. Factors such as the favorable reimbursement scenario and high per capita healthcare expenditures substantiate the growth of the regional market. Moreover, factors such as the presence of many large players in the market and a well-developed healthcare sector impact the market growth, positively.
Furthermore, factors such as the adoption of sedentary lifestyle and increasing expenditures on cosmetics are supporting the market growth in the region. The US, backed by a wide uptake of new technologies accounts for the key contributor to the market growth in the region.
The acne treatment market in the European region accounts for the second-largest market, globally. The resurging economy in the region is undoubtedly playing a key role, acting as a headwind that pushes the market up. Besides, the availability of funds for research, a huge patient population, and the increasing teenage population within the region are some of the key driving forces behind the growth of the regional market. The European acne treatment market is expected to grow at a considerable CAGR.
The Asia Pacific acne treatment market is rapidly emerging as a profitable market, globally. Factors such as the vast advancements in technology and derma-science especially in rapidly emerging countries such as India and China are leading the acne treatment market in the region. Besides, factors such as the availability of low-cost medications for the treatment, increasing prevalence of acne, and fast-proliferating healthcare sector fosters the growth in the regional market.
On the other hand, owing to the presence of poor economies, stringent government policies and lack of health care services especially within the African region, the MEA market for acne treatment is expected to witness a sluggish growth during the forecast period – 2017 to 2023. While, the Middle Eastern countries such as Saudi Arabia, Dubai, Kuwait will provide a boost to the market growth attributing to the well-developed healthcare sector and the huge healthcare expenditure.
Global Acne Treatment Market – Competitive Analysis
Highly competitive, the acne treatment market appears to be widely expanded and fragmented characterized by several small and large-scale players. To gain a competitive edge and to sustain their position in the market, these players incorporate various strategic initiatives such as partnership, acquisition, collaboration, expansion, and product launch.
The structure of the market is changing due to the acquisition of local players by multinational companies. Because of the increasing competition in the market, multinational companies are using the strategy of acquisition, which increases the profit of the company while significantly reducing the competition.
Major Players:
Key players leading the global acne treatment market include Galderma S.A. (Switzerland), Stiefel Laboratories, Inc. (US), ALLERGAN (Republic of Ireland), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline Plc. (UK), Valeant (Canada), Bayer AG (Germany), Roche Holding AG (Switzerland), and Teva Pharmaceutical Industries Ltd. (Israel) among others.
Industry/Innovation/ Related News:
February 14, 2019 — Rodan & Fields, LLC (North America), a manufacturer and multi-level marketing company specializing in skincare products launched its new game-changing Acne System, named Spotless. This all-new targeted system can treat two very different kinds of acne.
March 07, 2019 — Foamix Pharmaceuticals (the US), a leading global Pharmaceutical company announced that the FDA has accepted NDA for its acne treatment – FMX101. The FDA’s acceptance of its marketing application seeking approval for FMX101, a topical minocyline foam, for the treatment of non-nodular, moderate-to-severe inflammatory lesions of acne vulgaris in patients is due for the action by October 20, 2019.
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