Global Acne Medication Market to Generate USD 14.26 Billion by 2030, Outlines a New Report by Next Move Strategy Consulting

·6 min read
Next Move Strategy Consulting
Next Move Strategy Consulting

Increase in adoption of herbal skincare products, changes in hormone levels, unhygienic choices in lifestyle, and surge in teenage population drive the global acne medication market growth.

New York, Aug. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global acne medication market generated USD 10.08 billion in 2021, and is projected to reach USD 14.26 billion by 2030, manifesting a CAGR of 3.4% from 2022 to 2030. The report provides an extensive analysis of drivers and opportunities to highlight changing market dynamics. In addition, the research offers a detailed analysis of key segments and sub-segments to determine fastest growing and highest-revenue generating segments.

The report offers a competitive scenario along with a thorough analysis of the market conditions in 525 pages, accompanying nearly 300 tables and 269 figures. This analysis highlights the changing market conditions along with outlining current acne medication market size and the estimation by 2030.

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Report Coverage

Details

Forecast Period

2022–2030

Base Year

2021

Market Size in 2021

USD 10.08 Billion

Market Size in 2030

USD 14.26 Billion

CAGR

3.4%

No. of Pages

525

Tables

299

Figures

269

Segments covered

Therapeutic Class, Formulation, Type, Acne Type, Distribution Channel, and Geography.

Drivers

Increase in adoption of herbal skincare products

Changes in hormone levels

Opportunities

Rise in R&D activities in the skincare sector

High potential across untapped countries

The report highlights the changing market dynamics based on drivers, restraints, and opportunities of the global acne medication market. Increase in adoption of herbal skincare products, changes in hormone levels, unhygienic choices in lifestyle, and surge in teenage population drive the growth of the global market. However, side effects including dry skin, skin irritation, and erythema or skin redness with utilization of acne medications restrain the market growth.

Commenting on the opportunities that assist in expanding the acne medication market share in the coming years, the Lead Analyst for the Life Sciences & Healthcare category at Next Move Strategy Consulting, stated, “Rise in R&D activities in the skincare sector and high potential across untapped countries present new opportunities in the coming years. In addition, surge in occurrence and severity of acne offer new opportunities in the next few years.”

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The research highlights the detailed segmentation of the global acne medication market based on therapeutic class, formulation, type, acne type, distribution channel, and geography. The research offers insights on each of the segment and their sub-segments with the help of tabular and graphical representation.

Based on therapeutic class, the report sub-segments the market into retinoids, salicylic acid, benzoyl peroxide, antibiotics, and others. On the basis of formulation, the research further divides the market into topical medications and oral medications. Based on type, the research bifurcates the market into prescription medicines and over-the-counter medicines. On the basis of acne type, the report sub-divides the market into inflammatory acne and non-inflammatory acne. Based on distribution channel, the report categorizes the market into e-commerce, retail stores, and pharmacies & drug stores.

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On the basis of geography, the research further segments the global acne medication market into North America, Europe, Asia-Pacific, and RoW. Based on report, North America held the largest market share in 2021, and is projected to maintain its highest contribution during the forecast period. This is due to rise in usage of skincare products and surge in awareness about natural acne medication. On the other hand, Asia-Pacific is projected to grow rapidly over the forecast period, owing to rise in demand for acne therapeutics and increase in healthcare infrastructure.

The research also analyzes all the segments and sub-segments based on these regions and their respective countries. It helps investors, market players, and new entrants in devising the strategies for the future and raise their stakes in the global acne medication industry.

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The report provides the detailed competitive scenario of the global acne medication market. Leading players analyzed in the research include Almirall SA, Galderma S.A, Bausch Health Companies, Inc., GlaxoSmithKline Plc (GSK), Mayne Pharma Group Limited, Pfizer, Inc., Mylan N.V., Sun Pharmaceutical Industries Limited, Johnson & Johnson, Teva Pharmaceutical Industries Ltd., and others. The report offers an extensive analysis of each of the market players to highlight the market scenario.

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