US Dermatological Therapeutics Market Analysis Report 2022 to 2030

US Dermatological Therapeutics Market Analysis

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US Dermatological Therapeutics Market is at around $16.88 Bn in 2023 and is projected to reach $26.40 Bn in 2030, exhibiting a CAGR of 6.6% during the forecast period. The development of innovative therapies, the growing trend of cosmetic dermatology, and the increasing prevalence of skin conditions are driving the growth of the market. The market is dominated by key players like Almirall SA, Pfizer Inc., AbbVie Inc., Amgen, Gladerma SA, Johnson & Johnson, Novartis AG, Eli Lily and Company, Sun Pharmaceuticals Ltd., and GlaxoSmithKline PLC.

ID: IN10USPH035 CATEGORY: Pharmaceuticals GEOGRAPHY: US AUTHOR: Aneri Parekh

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US Dermatological Therapeutics Market is at around $16.88 Bn in 2023 and is projected to reach $26.40 Bn in 2030, exhibiting a CAGR of 6.6% during the forecast period.

Dermatological Therapeutics is dedicated to the identification and management of skin conditions. It includes a broad spectrum of therapeutic and aesthetic procedures intended to treat several types of dermatological disorders, including tumors, inflammatory diseases, and infections. Surgical procedures, laser therapy, topical or systemic drugs, and other cutting-edge methods can all be part of dermatological therapeutics. Restoring or maintaining the skin's health and look while taking care of aesthetic and medical issues is the aim. Dermatologists are experts at using evidence-based treatments to give their patients the best possible results.

The US market for dermatological therapies is well-established and experiencing growth due to increased consumer demand for advanced skin-related therapies. One in four Americans, or 84.5 Mn people, suffered from a skin condition. Its dynamic and developing nature is attributed to several factors, including technological improvements, an aging population, and their emphasis on customized dermatological treatments. Leading companies keep coming up with innovative concepts and providing a variety of product lines to treat a broad spectrum of skin disorders.

Revenues from the dermatological treatments market have increased dramatically, reaching $40.94 Bn worldwide in 2023. Revolutionizing the industry, this growth is driven by cost-effective production techniques and transformational technologies. The dynamic confluence of innovation, accessibility, and financial support is reflected in the changing landscape, which has shaped the dermatological treatment market into a thriving and resilient domain.

Currently undergoing Phase 3 trials for moderate-to-severe plaque psoriasis, Amgen's AMG 4375, an IL-17A inhibitor, has demonstrated encouraging efficacy in removing skin lesions. Phase 2 trials for hidradenitis suppurativa, a chronic inflammatory skin disorder, are being conducted on AMG 9557, another IL-17A inhibitor.

US dermatological therapeutics market

Market Dynamics

Market Growth Drivers:

Development of Innovative Therapies: New and more effective treatments for a range of skin problems are being developed as a result of ongoing breakthroughs in pharmaceutical and medical technologies. This promotes income generation and market expansion.

Growing Trend of Cosmetic Dermatology: With the expanding trend, procedures like Botox, dermal fillers, and laser treatments have increased demand for cosmetic dermatological products and services, thus leading to the growth of the market.

High Prevalence Skin Conditions: Millions of people in the US suffer from a high prevalence of chronic skin disorders like psoriasis, eczema, and acne. The market is growing because of the continuous need for therapy.

Market Restraints:

Strict FDA Approval Procedure: The FDA's stringent safety and efficacy requirements make it a costly and time-consuming process to bring new treatments to market. This may impede smaller businesses' access to the market and deter investment in novel medications.

Post-marketing Surveillance: Continued safety inspections and possible risk-benefit analyses may result in the withdrawal or restriction of a product, which would affect sales and create uncertainty in the market.

Availability of Generic Drugs: When branded medications lose their patent exclusivity, less expensive generic substitutes become available, which drives down prices and lowers profits for the original producers.

Notable Recent Updates

November 2023, Almirall has partnered with AbSci in a drug discovery project powered by artificial intelligence (AI) to create and market novel therapies for skin conditions. Through this partnership, Absci's integrated drug discovery platform and Almirall's dermatological expertise will be combined to create AI-designed therapies that can combat crippling and chronic illnesses.

Healthcare Policies and Regulatory Landscape

The US regulatory body in charge of policing dermatological drugs is the Food and Drug Administration (FDA). The FDA ensures that new drugs are safe and effective by evaluating and approving them. For the majority of novel therapeutic drugs and biologics, the development process consists of three primary stages: pre-clinical, clinical, and FDA review. The process of obtaining a license for a drug is fraught with difficulties, including stringent restrictions, lengthy and costly development timeframes, and difficulties in clinical trials.

Competitive Landscape

Key Players:

Almirall SA
Pfizer Inc.
AbbVie Inc.
Amgen
Gladerma SA
Johnson & Johnson
Novartis AG
Eli Lily and Company
Sun Pharmaceuticals Ltd.
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

US 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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.