Market Challenges And Opportunities

Global Acne Therapeutics Market Opportunities:

Increasing research and development (R&D) is expected to offer significant growth opportunities for players in the acne therapeutics market. For instance, in April 2021, in Canada, Bausch Health’s subsidiary Ortho Dermatologics announced positive topline data from its second Phase III trial for IDP-126, a three-compound combination gel tested in 193 patients with acne vulgaris. This clinical trial showed reductions in inflammatory & non-inflammatory lesions in 12 week in both problems. Such research around the products and combination of retinoids are expected to increase both the manufacturing and sales of the same.

Growing awareness among people about acne products and available treatment options is expected to offer significant growth opportunities for players in the acne therapeutics market. For instance, acne is one of the most common skin condition, and despite its prevalence, few people around the world know that June is acne awareness month. Acne Awareness Month is celebrated every June to discuss treatments and reduce stigma associated with the condition. Therefore, it is important to ensure that individuals suffering from acne are aware of its impact or effects and seek appropriate medical intervention. This in turn is expected to drive market growth.

Global Acne Therapeutics Market Drivers:

Growing burden of acne to augment market growth

One of the key factors expected to augment the growth of the global acne therapeutics market over the forecast period is the growing prevalence of acne across the world. For instance, acne is a skin condition that occurs when hair follicles become plugged with oil and dead skin cells. It is most common among teenagers, though it affects people of all ages. According to the National Institutes of Health (NIH), acne affect more than 9.4% of the global population, making it one of the most prevalent disease worldwide. This in turn increase the demand for safe/effective acne therapeutics, driving the growth of the global acne therapeutics market.

High demand for acne therapeutics to drive market growth

Another factor which is driving the growth of the global acne therapeutics market is the increasing demand for safe and effective acne therapeutics worldwide. For instance, with the growing burden of acne across the globe, the demand for acne therapeutics is also increasing rapidly. In July 2022, Glenmark Pharmaceuticals launched India’s first topical Minocycline 4% Gel for the treatment of moderate to severe acne, under the brand name MINYM. Minocycline is a potent antibacterial gel which exerts a strong anti-inflammatory action. MINYM Gel has been developed for the treatment of acne and is safe to use in patients above 9 years of age.

Global Acne Therapeutics Market Restraints:

Increasing demand for generics to hinder market growth

One of the key factors expected to hamper the growth of the global acne therapeutics market is the increasing demand for generic drugs or increasing adoption of generic drugs. In a few cases, though branded versions are not available their generic versions are available in the market. For instance, Isotretinoin is no longer available under a brand Accutane, but is still available as a generic version. Generics offer a low-cost alternative to a branded counterparts, and thus, customer prefer generic drugs over branded drugs, restraining the growth of the market.

Issues regarding acne products to hamper market growth

Another factor which is hampering the growth of the global acne therapeutics market is the safety issues regarding acne products. Acne products are generally considered safe. However, according to the Food and Drug Administration (FDA), the use of certain acne products containing the active ingredients benzoyl peroxide or salicylic acid, can cause rare but serious as well as potentially life-threatening allergic reactions or severe irritation. Due to the high incidence of these side-effects, FDA has warned consumers about these safety issues.