Global Dermatological Drugs Market 2018-2022 | 11% CAGR Projection Over the Next Four Years | Technavio
The global dermatological drugs market 2018-2022 is expected to post a CAGR of more than 11% during the forecast period, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global dermatological drugs market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the need for safe and stable drugs that require minimal monitoring. Presently, most drugs used to treat severe dermatological conditions are associated with neuropsychiatric adverse effects. They are dose and duration dependent, and hence require systematic monitoring for identifying adverse effects.
This market research report on the global dermatological drugs market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increase in prices of dermatological drugs as one of the key emerging trends in the global dermatological drugs market:
Global dermatological drugs market: Increase in prices of dermatological drugs
The increase in the price of dermatological drugs is partially driven by consumer demand and faster approvals of new drugs. In dermatology, topicals are the most cost-effective therapy, followed by small molecules. However, manufacturers apply pricing strategies such as discounted price through contracts with buyers and through copay coupon cards.
“The launch of biosimilars is expected to affect the innovative prices, as well as reduce prices for follow-on biologics. A strategy adopted by manufacturers of newer biologics is targeting specialized niche markets to justify their product price,” says a senior analyst at Technavio.
Global dermatological drugs market: Segmentation analysis
This market research report segments the global dermatological drugs market by product (biologics and small molecules) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 48%, followed by APAC and EMEA respectively. The dominance of the Americas can be attributed to the increasing prevalence of skin diseases in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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