Report : Asia-Pacific Dermatology OTC Medications Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type (Tablets and Capsules, Gels, Creams and Ointments, and Others), Route of Administration (Topical and Oral), Indication (Dermatitis, Acne, Psoriasis, Skin Bleaching, Fungal Disease, Warts, and Others), and Distribution Channel (Online Distribution and Offline Distribution)
Acne Segment to Dominate APAC Dermatology OTC Medications Market during 2021–2028
According to a new market research study on “APAC Dermatology OTC Medications Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Route of Administration, Indication, and Distribution Channel” is expected to reach US$ 5,296.25 million by 2028 from US$ 3,496.75 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the APAC dermatology OTC medications market along with the drivers and restraints pertaining to the market growth. Growing OTC market and transition from Rx to OTC are the major factor driving the growth of the APAC dermatology OTC medications market. However, inappropriate use of OTC medications hinder the growth of APAC dermatology OTC medications market.
The APAC dermatology OTC medications market is segmented based on product type, route of administration, indication, distribution channel, and country. Based on product type, the market is segmented into tablets and capsules, gels, creams and ointments, and others. The creams and ointments segment dominated the market in 2020 and tablets and capsules segment is expected to be fastest growing during forecast period. Based on route of administration, the market is segmented into topical and oral. The topical segment dominated the market in 2020 and oral segment is expected to be fastest growing during forecast period. Based on indication, the market is segmented into dermatitis, acne, psoriasis, skin bleaching, fungal disease, warts, and others. The acne segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. The dermatitis segment is further classified into atopic dermatitis, contact dermatitis, and others. The acne segment is also segmented into non-inflammatory acne and inflammatory acne. The psoriasis segment is segmented into plaque psoriasis, guttate psoriasis, and others. The fungal disease is further segmented into athlete's foot, ringworm, fungal nail infections, and others. Moreover, warts segment is further segmented into common warts, flat warts, and others. Based on distribution channel, the market is segmented into online distribution and offline distribution. The offline distribution segment dominated the market in 2020 and online distribution segment is expected to be fastest growing during forecast period. The offline distribution is further segmented into retail and hospital pharmacies and super and hyper markets. Based on country, the market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Bausch Health Companies Inc.; Bayer AG; Dr. Reddy's Laboratories; Galderma; GlaxoSmithKline plc.; Johnson and Johnson Services, Inc.; LEO Pharma A/S; Perrigo Company plc; and Viatris Inc. are among the leading companies in the APAC dermatology OTC medications market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, LEO Pharma and Bayer announced, that LEO Pharma has entered into a definitive agreement to buy Bayer’s global prescription dermatology unit. The portfolio to be acquired includes branded topical prescription treatments for acne, fungal skin infections and rosacea, and a range of topical steroids.
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