The global market for dermatological drugs is ascending and has made significant gains in skin treatments. The players in the dermatological drugs market are striving to tap the opportunities that this market offers.

Demand in the early years of the forecast period will come from multinational biotech looking to sign deals with Indian companies and take advantage of the cheaper costs of production for the emerging market.

The growth can be attributed to the rising prevalence of respiratory diseases, growing awareness for respiratory diseases, and innovations in respiratory and anesthesia devices. However, unfavourable reimbursement policies and lack of patient adherence in respiratory diseases are some of the factors restraining the growth of the anesthesia and respiratory devices market.

Factors such as rise in the prevalence of the infectious and bacterial diseases and active participation of government in vaccine development are driving the growth of this market. While high cost of vaccine development is the key factor emerging as a growth barrier over years in this market.

The potential of microbiome-based drugs as novel treatments to address the unmet needs for many diseases has contributed intensively to the rapid emergence of many investors in this area. Currently, no regulatory framework exists and no drugs have received FDA approval. However, there are several preclinical and clinical-stage companies working with various approaches to develop microbiome-based therapies.