Coherent Market Insights

Acne Therapeutics Market to Surpass US$ 8,834.9 Mn by 2030

Acne Therapeutics Market to Surpass US$ 8,834.9 Mn by 2030 - Coherent Market Insights

Publish In: Jul 20, 2023

Acne is a common inflammatory disorder of skin, which has sebaceous (oil) glands that connects to the hair follicle, which contains a fine hair. Acne occurs when the hair follicles become plugged with oil and dead skin cells. It causes whiteheads, blackheads, and pimples. Acne is most common among teenagers, though it affects individuals of all ages. Acne affect more than 9.4% of the global population, making it one of the most prevalent disease worldwide. Hence, there is an increasing demand for safe & effective acne therapeutics. Acne therapeutics include over-the-counter (OTC) creams, gels, and cleanser, as well as prescription antibiotics.     

Market Statistics:

The global Acne Therapeutics Market is estimated to account for US$ 6,610.8 Mn in terms of value by the end of 2023.

Drivers:

Increasing demand for safe and effective acne therapeutics across the globe is expected to augment the growth of the global acne therapeutics market during the forecast period. For instance, players in the market are focusing on developing and launching novel therapeutics in the market. In March 2022, Galderma announced the US launch of Twyneo (tretinoin 0.1% and benzoyl peroxide 3%) cream for the topical treatment of acne vulgaris in patients 9 years of age and older. Twyneo is a fixed-dose combination of tretinoin, a retinoid, and benzoyl peroxide, a topical antibacterial. The approval was based on data from 2 multicenter, double-blind, vehicle-controlled phase 3 trials that evaluated the efficacy and safety of Twyneo in patients with moderate to severe acne.

Opportunities:

Growing burden of acne around the world is expected to offer significant growth opportunities for players in the global acne therapeutics market. For instance, according to the American Academy of Dermatology (AAD), acne is a most common skin condition in the United States, affecting more than 50 million people annually. Acne usually begins in puberty and affects many adolescents and young adults. Around 85% of people between the ages of 12 and 24 experience at least minor acne. Moreover, the prevalence of acne is higher in countries with a higher socio-demographic index, particularly Western Europe, East Asia, & high-income areas of the Asia Pacific. According to the U.K. National Health Service (NHS), acne is very common in teenagers and young adults. Around 95% of people aged 11 to 30 across the country are affected by acne to some extent.

Restraints:

Increasing demand/adoption of generic drugs and safety issues regarding acne products are major factors expected to hamper growth of the global acne therapeutics market. In a few cases, though branded versions are not available their generic versions are available in the market. For instance, Isotretinoin is no longer available under a brand Accutane, but is still available as a generic version. Generics offer a low-cost alternative to a branded counterparts, and thus, customer prefer generic drugs over branded drugs, restraining the growth of the market.

Furthermore, acne products are generally considered safe, but according to the U.S. Food and Drug Administration (FDA), the use of certain acne products containing the active ingredients benzoyl peroxide or salicylic acid can cause rare but serious as well as potentially life-threatening allergic reactions or severe irritation. Thus, FDA has warned consumers about these safety issues.

COVID-19 Impact Analysis:

The outbreak of COVID-19 had a severe impact on the market, as stringent rules and regulations imposed by several government around the world led to a decline in patient visits to dermatology hospitals and clinics. However, despite the adverse impact of the pandemic on several industries, market players have witnessed an increase in product sales, as cases of skin irritation, such as acne, increased during the pandemic due to the prolonged use of face masks. This in turn had a positive impact on the growth of the acne therapeutics market.

Key Takeaways:

The global acne therapeutics market was valued at US$ 6,342.5 Mn in 2022 and is forecast to reach a value of US$ 8,834.9 Mn by 2030 at a CAGR of 4.2% between 2023 and 2030.

Therapeutics segment held dominant position in the global acne therapeutics market in 2022, accounting for 91.7% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

Introduction of novel drugs is one of the key trends expected to augment the growth of the global acne therapeutics market. With the growing burden of acne across the globe, the demand for acne therapeutics is also increasing. As a result, players in the market are focusing on developing and/or launching novel therapeutics in the market, and this trend is expected to continue over the forecast period. In November 2021, Sun Pharmaceuticals announced the launch of Winlevi (Clascoterone cream 1%), the first-in-class topical therapy for acne vulgaris, in the U.S. WINLEVI is approved by FDA for the topical treatment of acne vulgaris in patients 12 years of age and older.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/acne-medication-market-5182

Competitive Landscape:

Major players operating in the global acne therapeutics market include Allergan, Ranbaxy, Bayer Ag, Johnson & Johnson, Nestlé SA (Galderma), Glaxosmithkline Plc, Teva Pharmaceuticals, Cipher Pharmaceuticals, F. Hoffmann-la Roche Ltd., and Valeant Pharmaceuticals International Inc., among others.

Recent Developments:

In July 2022, Glenmark Pharmaceuticals launched India's first topical Minocycline 4% Gel for the treatment of moderate to severe acne, under the brand name MINYM.

In February 2022, Stryke Club announced the launch of retinoid acne treatment with its Knockout Adapalene Gel that helps prevent pimples, blackheads, whiteheads, and clogged pores.

In November 2021, Sun Pharmaceuticals announced the launch of Winlevi (Clascoterone cream 1%), the first-in-class topical therapy for acne vulgaris, in the United States. WINLEVI is approved by FDA for the topical treatment of acne vulgaris in patients 12 years of age and older.

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