PUBLISHER: The Insight Partners | PRODUCT CODE: 1463835
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463835
The global acne medication market is expected to reach US$ 11.80 billion in 2030 from US$ 7.774 billion in 2022. The market is estimated to grow with a CAGR of 5.40% from 2022 to 2030.
The acne medication market forecast presented in this report can help stakeholders in this marketplace plan their growth strategies. Key factors driving the market growth are the increasing prevalence of severe acne problems and the launch of novel drugs. However, side effects associated with acne medication limit the growth of the acne medication market. Moreover, acne medication market trends include the upsurge in need for organic and natural treatments.
Market Opportunities of Acne Medication Market
Adopting advanced technologies and data-driven approaches in the acne medication market opens up new avenues for research and development. By collecting and analyzing patient data, researchers can gain valuable insights into the underlying causes of acne, identify patterns and trends in treatment responses, and discover new potential targets for therapeutic interventions. This can drive the development of novel medications, innovative treatment strategies, and more personalized skincare products tailored to the diverse needs of acne patients. By leveraging artificial intelligence (AI), machine learning algorithms, genetic testing, and other cutting-edge tools, healthcare providers can now analyze vast data to better understand a patient's unique skin conditions, genetic predispositions, lifestyle factors, and treatment responses. This personalized approach allows for the development of tailored treatment plans specifically designed to address each patient's individual needs.
In March 2021, Onegevity, a health intelligence firm and a subsidiary of Thorne HealthTech, teamed up with Unilever, one of the top manufacturers of beauty and personal care products worldwide, to enable a more personalized approach to acne intervention and treatment. The scientific collaboration is meant to investigate the potential of multi-omics, or the integration of different biological disciplines, to enable more individualized approaches to treating acne. The collaboration aims to create new diagnostic models that can unlock customized acne treatment plans by utilizing Onegevity's AI and machine learning capabilities that allow the evaluation of billions of biological characteristics affecting a person's health. Personalized treatment plans help to optimize treatment efficacy by taking into account patients' specific characteristics and factors that may influence their response to acne medication. Based on such patient-specific data, healthcare providers can prescribe treatments that are more likely to be effective for that particular individual. This improves the chances of successfully treating acne and reduces the likelihood of side effects and adverse reactions, leading to better patient outcomes and increased satisfaction. Thus, integrating advanced technologies and data-driven approaches for designing personalized treatment plans creates significant opportunities for innovation, growth, and improved patient outcomes in the acne medication market.
Factor Hampering Acne Medication Market
Many traditional and systemic acne treatments, including oral antibiotics, retinoids, and hormonal therapies, are associated with a range of potential adverse effects, including skin dryness, irritation, photosensitivity, gastrointestinal discomfort, and, in rare cases, more severe systemic side effects. These potential adverse reactions have raised concerns among patients and healthcare providers, leading to hesitance in the adoption of certain acne medications, particularly for long-term use. Side effects also result in the lack of treatment adherence, as individuals may opt to discontinue or avoid specific medications due to intolerable or undesirable side effects. Consequently, consumers show an inclination toward advanced formulations and treatment modalities that prioritize efficacy while minimizing adverse reactions, introducing a constant need for novel, more tolerable, and better-tolerated acne medications. Thus, side effects associated with acne medication limit the growth of the acne medication market.
Acne Medication Market: Segmental Overview
The retinoid segment held the largest acne medication market share, based on therapeutic class, in 2022 and the same segment is anticipated to register a significant CAGR in the market during 2022-2030. Retinoids, which can be only bought with a doctor's prescription, contain vitamin A as a primary ingredient; they function similarly to retinol but they are far more potent and more successful in treating acne. Retinoids are available as oral capsules and topical therapies. Tretinoin, adapalene, and isotretinoin are well-known retinoids; the oral formulation of isotretinoin is sometimes referred to as Roaccutane. Retinoids are frequently prescribed in dosages of 0.1-1% for topical applications and 0.5-1 mg for oral applications per kilogram of patient weight.
Based on formulation, the acne medication market is classified into topical medication and oral medication. The topical medication segment held the largest share of the acne medication market in 2022. The same segment is further anticipated to record a significant CAGR in the market from 2022 to 2030. Topical formulations play a vital role in managing and treating acne, offering targeted delivery of active ingredients directly to the affected skin areas. Various types of topical acne medication include gel, cream, lotion, foam, and solution, each tailored to address specific acne concerns and skin types. These formulations commonly contain ingredients such as retinoids, benzoyl peroxide, salicylic acid, and antibiotics, each serving distinct roles in combating acne breakouts.
Based on type, the global acne medication market is classified into prescription medicines and over-the-counter medicines. The prescription medicines segment held a largest market share in 2022. Dermatologists or healthcare providers typically prescribe medications after a thorough assessment of the individual's acne type, severity, and responsiveness to previous treatments. Prescription acne medications encompass a range of options, including topical treatments, oral medications, combination therapies, and specialized formulations tailored to address specific acne concerns. Prescription medications are meant to offer targeted and potent solutions for individuals with moderate to severe forms of the condition.
The acne medication market is segmented into retail stores, pharmacies and drug stores, and others based on mode. In 2022, the pharmacies and drug stores segment held a larger market share. With their accessibility, privacy, and affordability (compared to private physicians), pharmacies and drug stores are vital sources of health services, supplies, and knowledge. Pharmacies and drug stores have gained recognition in numerous nations in recent years for their ability to enhance health by aiding in the management of a broad range of illnesses and medical conditions. Pharmacies and drug stores often have knowledgeable staff to guide customers on selecting the right acne medication based on individual skin types and concerns.
Acne Medication Market: Geographical Overview
In terms of geography, the scope of the acne medication market report encompasses North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2022, North America held the largest share of the global acne medication market.
Acne is a skin condition brought on by debris, oil, sebum, and dead skin cells clogging hair follicles. According to the American Academy of Dermatology, acne is the most prevalent illness in the US, up to 50 million Americans suffer from acne each year, making it the most common skin ailment in the country. The acne medication market in this country is projected to expand due to the increased incidence of acne in Americans and the subsequent launch of various innovative acne medications. Additionally, the growing focus on personal grooming, skin health, and external appearance fuels the demand for acne medications. Technological advancements and research have led to the development of innovative acne treatment products with improved efficacy and minimal side effects, contributing further to the acne medication market growth in the US, as people in this country are more willing to invest in high-quality products that deliver desired results.
Asia Pacific is estimated to register the highest CAGR during 2022-2030. This region is expected to record the fastest CAGR during the forecast period. In Asia Pacific, China is the largest market for acne medication. The acne medication market in China is propelled by various factors. Notably, the widespread adoption of AI-enabled telemedicine has revolutionized dermatological care, improving access to treatments and providing better personalization in the same. AIDERMA is China's first all-inclusive platform for AI-assisted skin patient diagnosis and therapy. Consultation, ongoing education, and supported diagnosis and therapy are the prime offerings of AIDERMA. More than 90 types of common skin illnesses are provided for assisted diagnosis and treatment. This claims to be a straightforward procedure that offers a diagnostic and potential course of action. More than 7,000 clinicians have registered for AIDDA, an application that allows doctors in China to diagnose psoriasis, eczema, and atopic dermatitis.
A few of the major primary and secondary sources referred to while preparing the report on the acne medication market are the World Bank Data, National Health Service (NHS), EMA (European Medicines Agency), and WHO (World Health Organization).