Acne Treatment Market Size to Surpass USD 15.70 Billion by 2030, exhibiting a CAGR of 5.1%
Fortune Business Insights
6 min read
As per the report by Fortune Business Insights, the global acne treatment market size is projected to reach USD 15.70 Billion by 2030, at a CAGR of 5.1% during the forecast period
Pune, India, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global acne treatment market size was valued at USD 10.48 billion in 2022 and is projected to grow from USD 11.09 billion in 2023 to USD 15.70 billion by 2030, exhibiting a CAGR of 5.1% during the forecast period.
Acne is a condition of the skin where the hair follicles get plugged with dead skin and oil. This condition can be commonly seen among teenagers, although affecting people of all ages. The commonly used drugs for acne are retinoids, antibiotics, and retinoid-like drugs.
Fortune Business Insights™ mentioned this in a report titled “Acne Treatment Market, 2023-2030.”
March 2022: Galderma launched its breakthrough skincare cream, Twyneo, to treat moderate to severe facial acne to the U.S. market at the American Academy of Dermatology (AAD) Annual Meeting.
Key Takeaways:
The increasing prevalence of acne is the major driver of the market growth.
The rising demand for over-the-counter (OTC) acne treatments is also expected to boost market growth.
The technological advancements in acne treatments, such as the development of new topical and oral medications, are expected to create new opportunities for market growth.
The high cost of some acne treatments is a major challenge for market growth.
Discover the Leading Players Featured in the Report:
Leading Players In the Acne Treatment Market Are ABBVIE INC. (Ireland), Botanix Pharmaceuticals (Australia), GALDERMA (Switzerland), Bausch Health Companies Inc. (U.S.), GlaxoSmithKline Plc. (U.K.), Bayer AG (Germany), Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel),
Report Scope & Segmentation
Report Coverage
Details
Forecast Period
2023 to 2030
Forecast Period 2023 to 2030 CAGR
5.1%
2030 Value Projection
USD 15.70 Billion
Base Year
2022
Market Size in 2023
USD 11.09 Billion
Historical Data
2019-2021
No. of Pages
150
Segments Covered
By Product, Route of Administration, Age Group, Distribution Channel, and Region
Increasing Occurrence of Acne Globally to Foster Market Growth
The occurrence of skin problems has significantly increased around the world. As a result, established and emerging nations in Asia Pacific, North America, and Europe are witnessing a rise in the number of patients choosing the treatment. The development of numerous acne therapy drugs, including antibiotics in oral and topical forms, retinoids, and isoprenoids has increased public knowledge of these medicines and the range of treatment choices available.
Despite the high occurrence of chronic acne around the world, certain factors limit the acne treatment market growth. The common side effects of the drugs are nausea, diarrhea, and vomiting, which are anticipated to restrict the market growth.
Segments:
High Efficiency for Treatment of Acne to Propel Growth of Antibiotics Segment
On the basis of product, the market is divided into antibiotics, retinoids, isotretinoin, and others.
The antibiotics segment dominated the market in 2022. This is attributable to the growing approval of antibiotics for acne treatment, along with their high efficiency in exudate management.
Easy Availability of OTC Topical Products Globally to Drive Market Share
Based on the route of administration, the market is bifurcated into oral and topical.
The topical segment dominated the market in 2022 and is expected to maintain its dominance across the forecast timeframe. The growth is attributable to the increasing number of companies manufacturing topical solutions for acne treatment.
Surging Incidence of the Condition among Adults Dominate the 18 to 44 Years Segment
According to age group, the market is segmented into 10 to 17 years, 18 to 44 years, 45 to 64 years, and 65 years & above.
The 18 to 44 segment is anticipated to show its dominance in the market during the projected period. The dominance is owing to increase in the patient population of this particular age group.
Growing Demand for OTC Products to Lead to Retail & Online Pharmacies Segment’s Lucrative Growth Rate
As per distribution channel, the market is divided into retail & online pharmacies and hospital pharmacies.
The retail & online pharmacies segment is predicted to witness a profitable growth rate during the forecast period. This is due to the increasing number of online portals and websites, such as Amazon, Walmart, and others, commercializing acne treatment products.
Geographically, the market is divided across regions such as Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America.
The report offers a detailed study of the market and a keen examination of the significant segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.
Regional Insights:
North America to Dominate the Market Share Due to Increase in Occurrence of Acne
North America dominated the acne treatment market share in 2022 and is anticipated to maintain its position during the forecast period. The dominance is due to the growing occurrence of acne and increasing concerns related to beauty among the population.
Asia Pacific is predicted to register the highest CAGR owing to growing awareness among the population about several drugs combined with the surging number of companies entering the Asia market.
The market is considered by many major players offering different types of drugs. The key companies will have a high revenue position and a diversified product portfolio of drugs. The key players in the market, such as Botanix Pharmaceuticals and Valeant Pharmaceuticals International, Inc., are predicted to drive the market growth.
FAQs
How big is the Acne Treatment Market?
Acne Treatment Market size was USD 11.09 billion in 2023.
How fast is the Acne Treatment Market growing?
The Acne Treatment Market will exhibit a CAGR of 5.1% during the forecast period, 2023-2030
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