How Will Skin Care Awareness Fuel Professional Acne Treatment Product Demand?
The Royal Australian College of General Practitioners (RACGP) estimates that more than 90% of adolescents aged 16–18 years in Australia are affected by acne vulgaris. Likewise, the European Academy of Dermatology and Venereology conducted a study in Spain, France, Belgium, the Czech Republic, Italy, and Poland to extract data on the prevalence of acne. The study revealed that approximately 57.8% of the population of these nations had acne. Thus, the increasing incidence of acne will facilitate the usage of professional acne treatment drugs in the coming years.
Moreover, the surging public focus on physical appearance and rising public awareness about skin treatment will propel the professional acne treatment market at a CAGR of 7.6% during 2020–2030. According to P&S Intelligence, the market revenue will increase from $6,298.9 million in 2020 to $13,124.5 million by 2030. Nowadays, people are actively investing in a comprehensive skin care regimen for skin disorders, such as scars and acne. To minimize the effects of such skin problems, clinicians are prescribing a combination of therapies, such as systemic agents, lasers, topical therapies, physical modalities, and photodynamic therapy.
At present, pharmaceutical companies are engaging in research and development (R&D) activities and product launches to cater to the evolving needs of the people suffering from acne. For example, in August 2020, Cassiopea SpA introduced Winlevi, a U.S. Food and Drug Administration (FDA) approved clascoterone-based cream designed to treat acne in people aged 12 years and above. Similarly, in April 2021, Teva Pharmaceuticals unveiled the generic version of Absorica (isotretinoin) capsules in 40-mg, 35-mg, 30-mg, 25-mg, 20-mg, and 10-mg dose strengths.
Geographically, the North American region dominated the professional acne treatment market in the last few years due to the high prevalence of acne and the presence of an extensive pipeline of drugs and leading producers of dermatology drugs in the U.S. and Canada. The Canadian Dermatology Association estimates that acne affects around 5.6 million people in Canada, accounting for nearly 20% of the population of the country. Likewise, the American Academy of Dermatology (AAD) states that acne affects approximately 50 million Americans annually.
Furthermore, the Asia-Pacific (APAC) region will adopt a significant quantity of professional acne treatment drugs and devices in the foreseeable future. This will be due to the surging public awareness about improved physical appearance, increasing availability of affordable laser treatments and devices, and mounting disposable income of people in the regional countries. The Reserve Bank of India (RBI) states that the net national disposable income of India surged from INR 1,55,34,214 crore in the financial year (FY) 2017–2018 to INR 1,72,58,624 crore in FY 2018–2019.
Therefore, the surging cases of acne and rising public awareness about skin problems and skin treatment procedures will augment the usage of professional acne treatment products globally.