Monday, July 1, 2013

Positive Growth Predictions Lead Big Pharma to Take a Second Look at the Dermatology Market

At any one point in time roughly one-third of the world’s population is battling at least one active skin condition.
Ranging from relatively mild conditions such as acne and dermatitis to more severe conditions such as lupus and melanoma, skin conditions cost the U.S. billions of dollars every year.

While the prevalence of skin conditions in the U.S. rivals obesity, hypertension, and cancer, the dermatology market has largely been ignored by major pharmaceuticals since the mid-20th century.

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According to BCC Research’s report, Skin Disease Treatment Technologies and Global Markets, the global dermatology market reached $15.8 billion in 2012, and is expected to reach $18.5 billion by 2018, registering a compound annual growth rate (CAGR) of 2.8%.

BCC Research predicts that much of the developed world will see moderate growth due to the continuing recession, whereas more positive growth from emerging markets such as Brazil, Russia, India, and China is anticipated by 2018.

The U.S. dermatology market was valued at $7.2 billion in 2012, and is expected to show moderate growth over the next 5 years to reach a total value of $7.8 billion by 2018, after registering a CAGR of 1.4%.

The dermatology market in the top five economies of the European Union (EU5) was valued at $3.4 billion in 2012, and is expected to reach $3.9 billion by 2018, at a CAGR of 2.6%.

With moderate to positive growth predicted in this market and potentially high profit margins, both mid-sized and major pharmaceuticals are taking a second look at the dermatology market.

Skin Disease Treatment Technologies and Global Markets provides a detailed analysis of market, technology, and industry trends to help leaders in the pharmaceutical field quantify and qualify the market for drugs used in the treatment of major skin diseases. The study also includes a 5-year global sales forecast for major drug categories.

This report is designed to satisfy the information needs of a wide variety of individuals involved in the dermatology marketplace. The study is also aimed at providing managers and executives in marketing, research, planning, and sales departments with readable, comprehensive, and up-to-date marketplace background information.

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