India Dermatological Therapeutics Market Analysis

India Dermatological Therapeutics Market Analysis


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India Dermatological Therapeutics Market is at around $0.77 Bn in 2022 and is projected to reach $1.65 Bn in 2030, exhibiting a CAGR of 11.6% during the forecast period. The market is expanding due to factors like improved healthcare infrastructure, increased awareness and demand, and technological advancements. The market is dominated by key players like Gladerma India Private Limited (IND), Dr. Reddy’s Laboratories (IND), Cipla (IND), Sun Pharmaceutical Industries (IND), Lupin (IND), Zydus Cadila (IND), Torrent Pharmaceuticals (IND), Alkem Laboratories (IND), Glenmark Pharmaceuticals (IND), Pfizer, Johnson & Johnson, Novartis AG, and GlaxoSmithKline PLC.

ID: IN10INPH035 CATEGORY: Pharmaceuticals GEOGRAPHY: India AUTHOR: Aneri Parekh

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India Dermatological Therapeutics Market Executive Summary

India Dermatological Therapeutics Market is at around $0.77 Bn in 2023 and is projected to reach $1.65 Bn in 2030, exhibiting a CAGR of 11.6% during the forecast period.

Dermatological therapy refers to the area of medicine that treats skin conditions. It deals with the identification and treatment of a range of dermatological disorders, including infections, psoriasis, eczema, and acne. Indian dermatologists use a variety of therapeutic approaches, such as systemic therapies, topical drugs, and cutting-edge techniques like laser therapy. With the development of science and technology, the sector is always changing to offer practical treatments for a wide range of skin conditions.

The growing aging population and greater skincare awareness drive India's dermatological market's steady rise. India had 149 Mn people in 2022 who are 60 years of age or older, or almost 10.5% of the nation's total population. The market is expanding due to the growing demand for improved dermatological treatments and cosmetic operations. Prominent companies are proactively launching inventive merchandise and utilizing digital channels to expand their customer outreach. Given the favorable regulatory framework and the growing beauty-conscious population in India, there are substantial prospects in the dermatological market for domestic and foreign firms.

The global market for dermatological treatments generated $40.94 Bn in revenue in 2023, a substantial increase over past decades. The sector is changing rapidly; cutting-edge technologies and effective production methods are fueling this growth. The dynamic combination of accessibility, innovation, and financial aid has turned the market for dermatological treatments into a robust and increasing sector.

Known for its concentration on topical treatments and well-known brands like Cetaphil, Galderma India Private Limited is a major player in the Indian dermatological therapeutics market. The excellent caliber and demonstrated effectiveness of Galderma India's products are well known. They conduct innovative research and development and uphold stringent quality control requirements.

India dermatological therapeutics market

Market Dynamics

Market Growth Drivers:

Growing Knowledge and Demand: As people become more aware of dermatological diseases and the availability of cutting-edge therapeutic solutions, there is a greater need for dermatological goods and services.

Enhancing Healthcare Infrastructure: The expansion of the dermatological therapeutics market has been aided by ongoing initiatives to enhance access to medical facilities and the quality of healthcare infrastructure throughout India. The improvement of skin disease detection and treatment is made possible by the growth of healthcare facilities in both urban and rural locations.

Technological Developments: The creation of new medications, topical therapies, and minimally invasive procedures are some examples of dermatological therapeutic advances that are driving the industry. The variety of treatment options that are now available has increased due to innovations in drugs and medical technologies.

Market Restraints:

Affordability Issues: In certain situations, patients may find the expense of dermatological treatments to be a major obstacle, especially in a nation with a wide range of economic circumstances like India. Affordability issues could prevent some people from receiving advanced or specialized therapies.

Limited Reimbursement: Patients may have to pay a large portion of the cost of dermatological treatments even if they have insurance.

Preference for Conventional Remedies: Compared to pharmaceutical dermatological treatments, some people may favor conventional or home remedies. Reluctance to adopt modern treatment options may be influenced by cultural issues as well as historical dependence on traditional medicine.

Healthcare Policies and Regulatory Landscape

National Regulatory Authority (NRA) of India is the Central Drugs Standard Control Organization (CDSCO), which is headquartered under the Directorate General of Health Services, Ministry of Health & Family Welfare, Government of India. To generate new medication formulations for retail or distribution, producers must first seek a license from the Zonal FDA and CDSCO. To receive CDSCO's clearance, this process needs to be followed. Fill out form CT-10 to get authorization to create ND for testing and analysis in form CT-11. The approval procedure involves numerous committees and agencies, which makes it more complicated and could lead to delays. Compared to other countries, the clearance process in India can take a while.

Competitive Landscape

Key Players:

  • Gladerma India Private Limited (IND)
  • Dr. Reddy’s Laboratories (IND)
  • Cipla (IND)
  • Sun Pharmaceutical Industries (IND)
  • Lupin (IND)
  • Zydus Cadila (IND)
  • Torrent Pharmaceuticals (IND)
  • Alkem Laboratories (IND)
  • Glenmark Pharmaceuticals (IND)
  • Pfizer
  • Johnson & Johnson
  • Novartis AG
  • GlaxoSmithKline PLC

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

India Dermatological Therapeutics Market Segmentation

By Type

  • Prescription-based Drugs
  • Over-the-counter Drugs

By Disease

  • Alopecia
  • Herpes
  • Psoriasis
  • Rosacea
  • Skin Cancer
  • Acne
  • Atopic Dermatitis
  • Vitiligo
  • Hidradenitis
  • Other Applications

By Drug Class

  • Anti-infectives
  • Corticosteroids
  • Anti-acne
  • Calcineurin Inhibitors
  • Retinoids
  • Other Drug Classes

By Route of Administration

  • Topical Administration
  • Oral Administration
  • Parenteral Administration

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 26 February 2024
Updated by: Ritu Baliya

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