global dermatology market

The Global Dermatology Market Continues to Boom

16 March 2020
Pharma
global dermatology market

Dermatology and the drugs associated with it are big business worldwide, and only growing bigger.  As things stand, the global dermatology market is set to nearly triple in the span of a decade, from $31.6 billion in 2016 up to an estimated $83.2 billion by 2026.  This is a wide-open field ripe for investment and expansion, and worth watching for new opportunities.  

What to Expect from The Global Dermatology Market in the 2020s

Growth is coming from multiple sources. Broadly speaking, the West - particularly the United States and Europe - are leading the way in R&D, while global markets are booming as growing standards of living lead to more markets becoming receptive to purely cosmetic medical purchases.

Sales in western markets continue to grow, with the United States being the single largest market. Forecasts show the US market alone growing to over $20 billion by 2026.

Likewise, the United States is dominant in the development of new products.  Strong patent laws and high levels of investment into the pharma industry suggest the US will continue in this role for years to come.  In addition, the United States has the highest per-capita spending on medical products in general, contributing to its market domination.

Europe, on the other hand, may see stagnation or downturn.  Several countries in the region are looking at introducing cost-cutting measures which could slow down growth.

The real opportunities for the dermatology market, however, may come from newer markets, particularly the BRICS nations.  Across the board, both total and per-capita healthcare spending in BRICS has been increasing, with the dermatology market benefiting significantly from an influx of foreign-developed products.  In addition, other emerging markets such as Africa and SE Asia are also seeing rapid growth in the adoption of western cosmetic pharmaceuticals.

Currently, the only potential source of restraints on the industry come from patent expiration - which can be countered through reformulation - as well as the ever-present possibility of governments seizing patents.

All in all, the global dermatology market is booming, and will be providing numerous opportunities in the years to come.

Get Your Business Intelligence insight from Visiongain

Visiongain is one of the world leaders in business research and reporting, with thousands of detailed reports covering eighteen verticals in depth.  From technology to medicine to aerospace, we have the intelligence your company needs to succeed.

Click here to explore our range of pharmacological business reports.

Recent News

Visiongain Publishes Viral Vectors & Plasmid DNA Manufacturing Market Report 2021-2031

Due to increases in the therapies in progress, the dosages provided, & the patient populations targeted, viral vector production capacity has become increasingly reduced in recent years. The condition is aggravated by COVID-19.

03 December 2020

Read

Visiongain Publishes Drugs of Abuse Testing Market Report 2021-2031

Drugs Abuse has risen very significantly in few last year as compared to previous once and expected to continuously rise over the forecast period. The increase in the drugs abuse creates a huge demand for the drugs of abuse testing products.

03 December 2020

Read

Visiongain Publishes Controlled Substance Market Report 2021-2031

Continuous increasing prevalence of chronic pain is increasing demand for controlled substance as treatment for Chronic pain. Due to which increasing prevalence of chronic pain around the world is working as a driver for the controlled substance market.

03 December 2020

Read

Visiongain Publishes Companion Animal Diagnostics Market Report 2021-2031

All regions are facing rapid growth in the companion animal population. Companion animal are at high risk of developing various diseases for which companion animal require timely diagnosis for the identification, detection and treatment for life causing diseases.

03 December 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever