Acne Medication Market to Grow at 3.1% CAGR by 2030
Adoption of unhealthy urban lifestyle, along with rise in awareness regarding acne treatment options to enhance facial aesthetics among people are expected to propel growth of the acne medication market during the forecast period.
The Global Acne Medication market is valued at USD 10.92 billion in 2022, and is expected to reach USD 14.26 billion by 2030, with a CAGR of 3.1% during the forecast period, according to new research by Next Move Strategy Consulting.
Acne medications mainly work by treating bacterial infections or reducing oil production of the skin. The time to treat acne differs from person to person, for some it might take several months and for some just a few weeks.
A number of factors such as unhealthy food habits and rise in sedentary lifestyles; occurrence of acne vulgaris condition in teenagers & adults; and rise in awareness regarding overall appearance, health, and attire propel the market growth. However, side effects related to the usage of acne drugs, along with the presence of alternative treatments hamper growth of the market.
Moreover, emergence & development of effective acne medications with minor side effects are expected to create lucrative growth opportunities for the market. In addition, significant market potential in untapped developing countries is opportunistic for growth of the market.
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According to the report, leading players in the acne mediation market include Procter & Gamble, Unilever PLC, Obagi Medical, Avon Products, Inc., Herbalife Nutrition Ltd., Beiersdorf Aktiengesellschaft, Abbvie Inc., Galderma, Estee Lauder Companies Inc., GlaxoSmithKline Plc., Johnson & Johnson, Neutrogena Corporation, Himalaya, Almirall S.A., Bausch Health Companies Inc., Amway Corporation, Abbott Laboratories, Teva Pharmaceutical, Sun Pharmaceutical Industries Limited, Glenmark, Viatris, Pfizer Inc., Mayne Pharma Group Limited, Clinique Laboratories, LLC, Colgate-Palmolive Company, and L’Oreal
Key Insights from the Acne Medication Market Report:
Information related to key drivers, restraints, and opportunities and their impact on the acne medication market is provided in the report.
Value chain analysis in the market study provides a clear picture of roles of each stakeholder.
Market share of 20 to 30 largest acne companies
New drugs with success in the market