According to the new research report published by Premium Market Insights, titled “The dermatology OTC drug market is expected to grow from US$15,456.63 million in 2021 to US$21,313.40 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.
Get a PDF sample at @ https://www.premiummarketinsights.com/sample/TIP00073400/
The high prevalence of skin problems and the rising income of the middle-class population are expected to fuel the growth of the global market. However, the inappropriate use of over-the-counter drugs is restricting the growth of the market.
The COVID-19 pandemic has negatively affected a number of businesses around the world. Supply chain disruptions and huge demand for efficient COVID-19 treatments have had a critical impact on the healthcare research industry in China. Prohibitive measures have been taken to resist the spread of the COVID-19 pandemic. The pandemic is expected to significantly affect the over-the-counter drug market in dermatology. For example, manufacturers in India are highly dependent on importing their APIs from China. The lockdown has slowed down the production of APIs, leading to lower availability and higher costs for the materials needed for the products. Due to the high demand for over-the-counter essential medicines, the government has restricted the export of some essential medicines. Due to the nationwide lockdown, the traditional over-the-counter drug supply chain is facing several challenges. Many of these drugs are not available. Even after specific guidelines and state government support for transporting essential over-the-counter medicines, many retail pharmacies are experiencing stock shortages. On the other hand, the online purchase of over-the-counter medicines has increased. Even after specific guidelines and state government support for transporting essential over-the-counter medicines, many retail pharmacies are experiencing stock shortages. On the other hand, the online purchase of over-the-counter medicines has increased. Even after specific guidelines and state government support for transporting essential over-the-counter medicines, many retail pharmacies are experiencing stock shortages. On the other hand, the online purchase of over-the-counter medicines has increased.
Most of the population agreed that the fear of contracting SARS-CoV-2 would be an independent factor for not undergoing any skin disease treatment during the COVID-19 pandemic in the country. This has resulted in a drastic drop in the demand for dermatological treatment. On the other hand, a cross-sectional study by Al Saud et al., published in Plastic and Reconstructive Surgery Global Open Journal, in September 2020, reveals that more than two-thirds (~69.5%) of over-the-counter dermatology medications indicated that the COVID-19 pandemic had negatively affected practices in Saudi Arabia. For example, surgeons in private practices were affected more significantly than the public sector due to fear and future uncertainty,
Check before buying at : https://www.premiummarketinsights.com/inquiry/TIP00073400/
The approval is likely to allow the company to sell these products in the global market for OTC dermatology drugs. Similarly, key companies are focusing on strategic initiatives such as mergers, acquisitions, new product development, and geographic expansions. For example, in July 2016, Galderma received FDA approval for Differin Gel 0.1 percent (adapalene), an over-the-counter (OTC) once-daily topical acne treatment gel, in July 2016. Differin Gel 0.1 percent is authorized for use in people 12 years of age and older.
The high prevalence of skin disease supports the growth of the dermatological OTC drug market. Acne affected 5.6 million Canadians, or ~20% of the population, according to the Canadian Dermatological Association in 2021. Similarly, ~80% of acne patients are between the ages of 12-24. Acne affects ~90% of adolescents and 20-30% of adults aged 20-40. Similarly, according to a study published in the journal Actas Dermo-Sifiliogr?ficas in 2019, the prevalence of psoriasis in France was 5.2% of the entire French population. Additionally, according to the 2020 United States Census data, ~7.55 million American people suffer from psoriasis. The prevalence of psoriasis was similar in men and women, with 3.2% in women and 2.8% in men.
Increased healthcare spending supports the growth of the dermatology over-the-counter medicines market during the forecast period. Pharmaceutical spending includes prescription drugs and self-medication, also known as over-the-counter (OTC) items. In 2019, spending on pharmaceuticals accounted for 14.3% and 11.9% of total healthcare spending in Germany and France, respectively.
Request a copy of Otc Dermatology Drugs Market Research Study at- https://www.premiummarketinsights.com/buy/TIP00073400/
About us:
Premium Market Insights is a one stop shop for market research reports and solutions for various companies around the world. We support our clients in their decision support system by helping them choose the most relevant and profitable research reports and solutions from various publishers.
The market research industry has changed in the last decade. As the corporate focus has shifted to niche markets and emerging countries, various publishers have stepped in to meet these information needs. We have experienced and trained staff who help you navigate through different options and allow you to choose the best research solution at the most cost effective.
Premium Market Insights has extensive coverage of industry reports, company reports, and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by contacting different research agencies, saving you valuable time and money.
We offer best-in-class customer service and our customer support team is always available to assist you with your investigative queries. Our commitment to customer service is best exemplified by the free analyst support we offer our clients, which sets us apart from any other provider. We also offer business subscriptions that provide significant cost savings to our customers.
Contact Us:
Contact person: Sameer Joshi
Phone: +1-646-491-9876
Email ID: [email protected]