NEW YORK, July 28, 2021 /PRNewswire/ -- The global acne treatment market growth was valued at over US$ 5.8 Bn in 2020, and is set to exhibit a CAGR close to 6% over the forecast period (2021-2031), as per latest revised industry analysis, Persistence Market Research.
High Prevalence of Acne amongst various age-group and demands for combination treatment for faster results to drive the growth of this market. Although the prevalence of Acne is high among adolescents and young adults, 15% women with above 50 years of age has been affected with Acne and requires treatment.
According to the American Academy of Dermatology Association, over 85% of the population between the ages 12 and 24 have suffered from minor acne at least once or twice, and this may continue into individuals in their '30s and '40s.
Significant number of acne cases has led to increased uptake of considering multi-modality therapies for effective results. This, in turn, is expected to fuel demand for acne treatment products. Manufacturers are also increasing their product line targeting specific type of acne which will generates avenues for growth in the market.
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The launch of topical androgen receptor inhibitors for Acne treatment in August 2020 will be a game-changer in topical therapies as this drug will act by targeting the androgen receptors directly.
Key Takeaways from Market Study
- By treatment, retinoid therapy to hold around 32% market value share, globally, primarily due to its effectiveness in controlling the spread of acne as compared to other products and reducing the formation of acne scars.
- Based on route of administration, the topical route of administration is leading with over 60% of market share. Ease of application and greater availability of lotions, creams, and gels are positively driving demand for topical products.
- Inflammatory acne is estimated to dominate the market by type. This segment accounted for approximately 53% share of the market. Significant scarring and pain associated with this type of acne is a key factor driving the segment.
- Institutional sales dominate acne treatment with a market share of 52%. Growing number of dermatology clinics and rising preference toward office-based acne procedures to achieve faster results have created a positive impact on the growth of this market.
- By region, North America is set dominate the global acne treatment market with a value share of around 44%.
- Europe is slated to be the second-largest leading region with a value share of 20% during the forecast period.
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"Combination Therapies to remain Mainstay in the Acne Treatment market due to its Therapeutic Efficacy and Minimal Side-Effects," says an analyst of Persistence Market Research.
Market Competition
New product launches and collaborations have emerged as the key growth strategy adopted by key industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.
In January 2021, Eligo Biosciences SA and GlaxoSmithKline PLC entered into a research collaboration to develop gene therapies to treat or prevent the growth of normal acne.
In February 2020, Almirall S.A. entered into a licensing agreement with Paratek Pharmaceuticals, Inc. to expand Almirall's Seysara in the market in China.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the acne Treatment market in its latest study, presenting historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
The research study is based on the product (therapeutic treatment [antibiotics, retinoid therapy, hormonal drugs, anti-inflammatory drugs, and chemical peels] and devices [laser devices and radio frequency therapy]), route of administration (topical and oral), acne type (inflammatory and non-Inflammatory acne), distribution channel (institutional sales [hospitals and speciality clinics) and retail sales [retail pharmacies, drug stores, and online sales]), across seven key regions of the world.
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