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Global Dermatology Drugs Market Booms Thanks to Increasing Importance of Appearance

Press Release   •   Aug 22, 2017 06:05 EDT

A new report has been added by on the dermatology drugs market. The report is titled “Global Dermatology Drugs Market to 2023 - Growth Driven by Increased Uptake of Interleukin Receptor Inhibitors for Psoriasis and Atopic Dermatitis.” As per the report, there are over 3,000 types of dermatology skin conditions and thus, the scope of dermatological disorders is diverse. If appropriate treatment is not given in critical situations, it can severely affect the patient’s life. The growing disposable income and increasing importance of appearance among people today have led to an increasing spending on dermatology drugs. The social embarrassment caused due to skin conditions such as pigmentation, acne and pimples, and scars caused as a result of some of the skin conditions is driving an increasing number of patients to seek treatment and this will boost the growth of the global dermatology drugs market.

The increasing number of drugs that have been approved by the FDA and other regulatory bodies is another key factor boosting the growth of the global dermatology drugs market. Skin issues such as wrinkles, psoriasis, and others can be treated by dermatology drugs and this will boost the market’s growth. High frequency is another key reason for the growth of this market, as the number of cases for this disease is increasing rapidly. There are a number of indications which can be treated by topical drugs and this will continue to fuel the demand for dermatology drugs. The continuous efforts by key players and ongoing research and development will stimulate the growth of the market as newer drugs are being formulated for indications such as hair loss and discoloration, which have become two of the most common hair problems. The new developments for acne and rosacea will spur the growth of the market, as the number of people suffering from these two disorders is growing at an alarming rate.
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The global dermatology drugs market is segmented on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. Of these, North America is anticipated to lead in the market as the prevalence of skin diseases is high in this part of the world. In addition to this growing awareness about the potential drugs and their effectiveness will drive the growth of this market in North America. Europe is most likely to be the second leading market for dermatology drugs. Asia Pacific will trail Europe and show a healthy growth on account of the growing spending on healthcare.
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The report profiles key players within the dermatology drugs market for the purpose of study. They are: AstraZeneca, AbbVie Inc., GlaxoSmithKline, LEO Pharma A/S, Johnson & Johnson Services Inc., and Pfizer, Inc.