IndustryARC, in its latest report, predicts that the Acne Medication Market size is estimated to reach $12.8 million by 2027. Furthermore, it is poised to grow at a CAGR of 3.68% over the forecast period of 2022-2027. Acne is a common skin problem, which is faced by millions of people globally. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
This IndustryARC report on the cobalt Acne Medication Market highlights the following areas –
1. Geographically, North America’s acne medication market held a dominant market share in the year 2021. It is owing to the preference of predominant people suffering from acne to get it ramified. Further, numerous developments related to acne therapeutics have helped the region to hold its market dominance. Moreover, Asia-Pacific is set to outgrow the other regions, which would allow it grow at a substantial pace. It is owing to a multitude of product launches and surge in healthcare expenditure will allow the market to grow.
2. Increase in the prevalence of acne diseases has been identified as the key driver for the market. However, non-responsiveness to medications hampers market confidence.
3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Acne Medication Market Report.
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Segmental Analysis:
1. The Prescription Medicines segment is estimated to be the fastest-growing, with a CAGR of 4.4% over the forecast period of 2022-2027. It is owing to an increase in the cases of an inflammatory type of acne. For the following acne, OTC products rarely work, and often derma treatment is preferred.
2. The Acne Medication Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s Acne Medication Market held a dominant share of 37.2% as compared to the other counterparts in the year 2021.
3. The Complete Treatment segment is estimated to be the fastest-growing, with a CAGR of 4.5% over the forecast period of 2022-2027. It is owing to the presence of various therapeutic classes present in the said form. Salicylic acid, benzoyl peroxide, retinoic acid, glycolic acids, and various other ingredients.
Competitive Landscape:
The top 5 players in the Acne Medication industry are –
1. Galderma S.
2. Mayne Pharma Group Limited
3. Mylan N.V
4. Pfizer Inc.
5. Sun Pharmaceutical Industries Limited.
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