China Dermatological Therapeutics Market is at around $3.34 Bn in 2023 and is projected to reach $6.54 Bn in 2030, exhibiting a CAGR of 10.1% during the forecast period. The market is growing as a result of urbanization, increasing elderly population, and growing awareness. The market is dominated by key players like Fosun Pharma (CHN), Sinopharm (CHN), Jiangsu Hengrui Medicine (CHN), CSPC Pharmaceutical Group (CHN), Hualan Biological Engineering (CHN), Harbin Pharmaceutical Group (CHN), Yunna Baiyao Group (CHN), Sino Biopharmaceutical (CHN), Pfizer, Johnson & Johnson, Novartis AG, and GlaxoSmithKline PLC.
China Dermatological Therapeutics Market is at around $3.34 Bn in 2023 and is projected to reach $6.54 Bn in 2030, exhibiting a CAGR of 10.1% during the forecast period.
Dermatological therapy includes a broad spectrum of medical and cosmetic procedures designed to treat different skin disorders that are common among Chinese people. Alongside contemporary Western medicine, dermatological therapies are frequently influenced by Traditional Chinese Medicine (TCM) techniques. The field consists of medications, topical therapies, and cutting-edge technology designed to enhance skin health and treat dermatological issues specific to the Chinese population. The field of dermatological treatments is constantly changing in China as a result of ongoing research and development.
Growing awareness of skincare and beauty is fueling the rapid expansion of the dermatological market in China. The market is expanding due to factors like an increase in dermatological problems, an older population, and rising disposable incomes. In an ever-changing industry, skincare brands from around the world and locally are aggressively competing by utilizing cutting-edge products and digital marketing techniques. Government programs and a greater emphasis on well-being and health are two other factors driving the expansion of the Chinese dermatological market.
In 2023, the global market for dermatological treatments brought in $40.94 Bn, a significant rise over the previous year. The industry is transforming, and this boom is being driven by efficient production techniques and revolutionary technologies. The market for dermatological treatments has been shaped into a thriving and expanding sector by the dynamic confluence of accessibility, innovation, and financial assistance.
Fosun Pharma has collaborated with other international businesses to create and market dermatological medications in China. They are working along with AstraZeneca to co-develop and market the biological treatment for psoriasis called brodalumab.
Market Growth Drivers:
Rapid Modifications to Lifestyle and Urbanization: Skin diseases including psoriasis, acne, and eczema are becoming more common in metropolitan areas due to increased sun exposure, stress, and pollution.
Aging Population: Chronic skin conditions including rosacea and seborrheic dermatitis are more common in China's aging population which is growing the market for dermatological therapeutics.
Growing Public Awareness: The importance of good skin care practices and the availability of efficient treatments among people is driving up demand for dermatological medicines.
Market Restraints:
Regulatory Environment: The market for dermatological medicines may be greatly impacted by modifications to regulatory laws and approval procedures.
Global Health Events: Circumstances like pandemics or infectious disease outbreaks might influence healthcare goals and systems, which could have an effect on the market for dermatological medicines.
Price controls: The government imposes price caps on several medications, which have an effect on pharmaceutical companies' profits and may deter investment in dermatological treatments R&D.
National Medical Products Administration (NMPA) oversees the regulation of pharmaceuticals and medical devices in China. The approval procedure for drugs typically entails a New Drug Application (NDA) filed by the applicant with the NMPA. After reviewing the NDA, the NMPA visits the applicant's manufacturing facilities to do an on-site inspection. NMPA often has stricter data requirements for clinical studies than other countries, which can make the process more expensive and time-consuming.
Key Players:
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Type
By Disease
By Drug Class
By Route of Administration
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