Prescription Derma Drugs Grow Revenues Five Times Faster than Industry Average: Report
ROCKVILLE, Md., June 19, 2017 /PRNewswire/ -- The worldwide market for prescription dermatological products reached $23.4 billion in 2016, growing at a rate of 9.3% from 2014 to 2016, according to Kalorama Information. The New York City-based market research firm said that is five times revenue growth of industry. The antiaging and photodamage, psoriasis, and skin cancer treatments dermatology drug sectors showed the most dramatic gains. Sales of prescription acne and rosacea, dermatitis and seborrhea, fungal infection, hair loss/removal, hyperpigmentation/melasma, and miscellaneous skin disorders reflected a slower growth rate during this period because many of the drugs are older and have lost patent protection. The finding was made in Kalorama Information's tenth edition of its Prescription Dermatological Drugs report.
"This is an exciting time in dermatology as there continues to be a shift in the understanding of the pathophysiology of many skin diseases," said Mary Ann Crandall. "And there's new biologics and their uses in dermatology."
Crandall also said there are new trends such as a movement towards dispensing prescription dermatology agents in the office. And growth in the demand for platelet rich plasma. When PRP is injected into the damaged area, it stimulates the tissue, causing mild inflammation that triggers a healing cascade. This area of medicine has blossomed due to an increase in skin cancer incidence, new exciting biologics for psoriasis, increased demand by baby boomers -both men and women - for antiaging products, consolidation within the industry and strong late stage pipeline entities.
The worldwide market for prescription dermatological drugs encompasses a wide variety of products that treat disorders of the skin as well as the effects of aging. The field of dermatology is currently experiencing a busy and interesting period and, as a result, the range of therapeutic options available to physicians has expanded. The biggest movers during the period are forecast to be the antiaging and photodamage segment, psoriasis segment, and skin cancer treatment segment.
Kalorama said that there are a number of companies participating in the worldwide market for prescription dermatological drugs, ranging from large international pharmaceutical companies, small niche pharmaceutical companies, to generic companies both large and small. There is also competitive pressure in this market from over-the-counter (OTC) participants. However, even with the availability of OTC products, manufacturers of prescription products continue to do well in terms of revenues. Demand for products in the prescription dermatological market will likely remain high due to the aging population and the quest for lifestyle treatments to meet the needs of aging baby boomers. Competitors are increasingly offering products that meet this need, which is an entirely different concept than other products that the companies may offer. The lifestyle products do not treat diseases but rather meet cosmetic needs, still Kalorama broadened the reports perspective to include some of them.
"This is an inclusive look at many different areas of dermatology not addressed in many other market research publications," Crandall said.
Kalorama Information's report can be found at:
https://www.kaloramainformation.com/Prescription-Dermatological-Drugs-Edition-Antiacne-Rosacea-Antiaging-Photodamage-Dermatitis-Seborrhea-Antifungal-Hair-Loss-Removal-Hyperpigmentation-Melasma-Depigmenting-Psoriasis-Skin-Cancer-10930321/.
About Kalorama Information
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SOURCE Kalorama Information
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