Report : Europe 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)
Topical Segment to Dominate Europe Dermatology OTC Medications Market during 2021–2028
According to a new market research study on “Europe 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$ 5,321.86 million by 2028 from US$ 4,068.29 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the Europe dermatology OTC medications market along with the drivers and restraints pertaining to the market growth. Rising income of middle-class population and high prevalence of skin problems are the major factor driving the growth of the Europe dermatology OTC medications market. However, inappropriate use of OTC medications hinder the growth of Europe dermatology OTC medications market.
The Europe 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 the UK, Germany, France, Italy, Spain, and rest of Europe.
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 Europe 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 2019, Mylan N.V. and Pfizer Inc. entered into an agreement to combine Mylan with Upjohn, Pfizer's off-patent branded and generic established medicines business, creating a new global pharmaceutical company. Under the terms of the agreement, Pfizer shareholders would own 57% of the combined new company, and Mylan shareholders would own 43%.
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