At 3.2% CAGR, South & Central America Acne Medication Market is Projected to be Worth US$ 674.29 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America acne medication market was valued at US$ 525.48 million in 2022 and is expected to reach US$ 674.29 million by 2030, registering a CAGR of 3.2% from 2023 to 2030. Launch of novel drugs and increasing prevalence of severe acne are among the critical factors attributed to the South & Central America acne medication market expansion.

Innovative pharmaceutical developments, including topical and systemic medications, have fundamentally reshaped treatment approaches for acne. In 2022, Sun Pharmaceutical Industries broadened the scope of its collaboration with Cassiopea with respect to an acne treatment. It has signed extension agreements to the license and supply contracts for WINLEVI (clascoterone) cream 1 percent, enlarging the geographical scope to encompass Brazil.

Novel drug launches also include advanced formulations with improved efficacy, enhanced safety profiles, and reduced side effects, catering to the evolving needs of individuals seeking effective acne management. According to a statement released in October 2023 by Bausch Health Companies Inc. and its dermatology business-Ortho Dermatologics-Food and Drug Administration (FDA) approved the New Drug Application for CABTREO topical gel composed of 1.2%, 0.15%, and 3.1% clindamycin phosphate, adapalene, and benzoyl peroxide, respectively. This is a topical treatment indicated for acne vulgaris in patients aged 12 or older. CABTREO is the first and only topical triple combination acne therapy approved by the FDA, which is offered in a fixed-dose form. The company aims to make this gel available for patients in Q1 2024.

The introduction of novel medications, such as retinoids, anti-androgens, and immune modulators, has further expanded the therapeutic options available for healthcare professionals and individuals dealing with acne. The continuous introduction of new drugs stimulates competition, fosters innovation, and encourages research and development investments within the dermatological pharmaceutical industry. The heightened focus on personalized and targeted treatment approaches for treating acne forms a foundation for the advent of novel drugs to improve patient outcomes and satisfaction. Thus, the launch of novel drugs significantly contributes to the progress of the South & Central America acne medication market.

On the contrary, side effects associated with acne medication hampers the growth South & Central America acne medication market.

Based on therapeutic class, the South & Central America acne medication market is segmented into retinoids, benzoyl peroxide, antibiotics, salicylic acid, and others. The retinoids segment held 33.5% share of the South & Central America acne medication market in 2022, amassing US$ 176.15 million. It is projected to garner US$ 244.46 million by 2030 to expand at 4.2% CAGR during 2023-2030.

In terms of formulation, the South & Central America acne medication market is bifurcated into topical medication and oral medication. The topical medication segment held 68.6% share of the South & Central America acne medication market in 2022, amassing US$ 360.35 million. It is estimated to garner US$ 480.55 million by 2030 to expand at 3.7% CAGR during 2023-2030.

By type, the South & Central America acne medication market is bifurcated into prescription medicine and over-the-counter medicine. The prescription medicine segment held 65.2% share of South & Central America acne medication market in 2022, amassing US$ 342.73 million. It is predicted to garner US$ 455.32 million by 2030 to expand at 3.6% CAGR during 2023-2030.

Based on acne type, the South & Central America acne medication market is bifurcated into non-inflammatory acne and inflammatory acne. The inflammatory acne segment held 54.6% share of the South & Central America acne medication market in 2022, amassing US$ 287.09 million. It is projected to garner US$ 375.57 million by 2030 to expand at 3.4% CAGR during 2023-2030.

In terms of distribution channel, the South & Central America acne medication market is segmented into pharmacies and drug stores, retail stores, and e-commerce. The pharmacies and drug stores segment held 49.7% share of the South & Central America acne medication market in 2022, amassing US$ 261.19 million. It is estimated to garner US$ 353.51 million by 2030 to expand at 3.9% CAGR during 2023-2030.

Based on country, the South & Central America acne medication market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 47.9% share of South & Central America acne medication market in 2022, amassing US$ 251.44 million. It is projected to garner US$ 333.37 million by 2030 to expand at 3.6% CAGR during 2023-2030.

Key players operating in the South & Central America acne medication market are Sun Pharmaceutical Industries Ltd, Teva Pharmaceutical Industries Ltd, Almirall SA, Johnson & Johnson, Bausch Health Companies Inc, Galderma SA, Pfizer Inc, GSK Plc, and Viatris Inc, among others.

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