Global Dermatological Therapeutics Market Overview
Dermatological therapies are therapies which are used to treat different types of skin conditions/disorders. Any kind of skin conditions/disorders are challenging for patients because of social judgement. The skin is a vulnerable part of the body as they are expose to a wide variety of toxins and different types of microbes. Skin is the body’s external line of defense for the immune system. Prolonged exposure to these toxins could cause irritation and eventually skin disorders.
These skin disorders are treated with the help of dermatological therapeutics. Dermatological therapies can treat a number of issues related to skin, ranging from rash to skin cancer. Dermatological therapies can be broadly categorized as systemic agents, topical agents, dressings, phytodynamic therapy and laser, and cryosurgery. Dermatological therapies are changing continuously over the decades.
The most commonly used type of therapy used by dermatologist are the topical agents. They may be applied in the form of liquids, powders and liquid-oil combinations. Dressings are often used to protect a particular area of the skin, increase the healing process and helps to effectively absorb topical agents. Systemic therapies are therapies which effect the whole body. Laser dermatological therapies are used to treat birthmarks and many skin disorders. Cryosurgery is a type of surgery which uses extreme cold temperatures to irradiate unwanted tissues.
Market Size and Forecast
The global dermatological market is observing a vibrant growth as there is an increase in awareness about the skin quality. Increase in the spending power of people across the globe are some of the important factors which are driving the market. Increase in the investment in the research and development to discover new potential drugs have increased the growth of the market significantly. Additionally, polluted environment and unhealthy lifestyle is also driving the dermatological therapeutics market. As people gets old, there are a variety of skin related disorders which takes place which requires proper dermatological treatment. Most of the skin disorders are no life threatening, except melanoma which is a type of cancer.
Dermatological therapeutics Market is anticipated to record a CAGR of 4.2% over the forecast period. The dermatological therapeutics market is expected to showcase a vibrant growth by the end of the forecast period. The largest market segment of dermatological therapeutics is acne. In the U.S, skin cancer is one of the most common cancer.
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Rapid increase in geriatric population
The rising number of geriatric population is one of the most important drivers for the global dermatological therapeutics market. As people grow old, skin related disorders also increases and requires proper dermatological attention. The worldwide population is aging at a faster pace. According to the report of national institute of health (NIH), the geriatric population worldwide is anticipated to grow in an unprecedented way. Worldwide, 8.5% of the population across the globe (617 million) are aged 65 and over. According to the latest report, this percentage is expected to rise to approximately 17% of total world population by the year 2050 (1.6billion).
Growing awareness of government regarding skin diseases
In the developing countries, skin diseases or disorders have a negative impact on the quality of life which results in serious loss of productivity in work and life. Skin disorders often show symptoms of serious diseases. In the most extreme case, it could possibly lead to death. Governments and organizations. According to the department of health of Australian government, Australia has the highest incidence of skin cancer. Every year, more than 3,80,00 skin cancer are diagnosed each year. The Australian government has committed USD 11.5 million for the nest two year.
Side effects associated with dermatological therapeutics
A side effect is defined by an unwanted, secondary symptoms caused by a medical treatment including medicines, therapies etc. Dermatological therapies have some serious side effects including weight gain, water retention, hypertension, osteoporosis etc. These side effects have some serious negative implications on the health and lifestyle which could be a restraint in the dermatological therapeutics market.
By Therapeutics Type
By Distribution Channel
On the basis of regional analysis, global dermatological therapeutics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America and Europe is expected to lead the global dermatological therapeutics market. Increase in the healthcare expenditure by the government and enhancement in the awareness about dermatological diseases are anticipated to contribute growth in the market. Asia-Pacific region is anticipated to show a robust growth in the dermatological therapeutics market because of increase in awareness. Increasing geriatric population is also an important factor which is expected to contribute high growth the global dermatological therapeutics market in the forecast period.
Global dermatological therapeutics market is further classified on the basis of region as follows:
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