Report : US Dermatology OTC Medications Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Product Type (Tablets and Capsules, Oils, Gels, Creams and Ointments, Others); Indication (Dermatitis, Acne, Psoriasis, Skin Bleaching, Anti-Fungal, Wart Remover, Others); Route of Administration (Topical, Oral); Distribution Channel (Online Distribution, Hospital and Retail Pharmacies, Super and Hyper
Tablets and Capsules Segment to Grow at Highest CAGR
According to our latest study on “The US Dermatology OTC Medications Market Forecast to 2028– COVID-19 Impact and Country Analysis – by product type, indication, route of administration, and distribution channel,” the market was valued at US$ 952.97 million in 2020 and is projected to reach US$ 1,124.56 million by 2028; it is expected to grow at a CAGR of 2.1% during 2021–2028. The report highlights trends prevailing in the US dermatology OTC medications market, and the drivers and hindrances pertaining to the market growth.
Based on product type, the US dermatology OTC medications market is segmented into tablets and capsules, oils, gels, creams and ointments, and others. The creams and ointments segment held the largest share of the market in 2020, whereas the tablets and capsules segment are estimated to register the highest CAGR during the forecast period. This growth can be ascribed to increasing prevalence of skin diseases and increasing awareness among population regarding the use of several OTC topical drugs. Moreover, demand for dermatology OTC medications has witnessed significant growth during COVID-19 pandemic due to lockdown and less visit to clinic.
The growth of the US dermatology OTC medications market is attributed to rising prevalence of skin abnormalities and increasing availability of dermatology medication over the counter (OTC). However, side effects associated with OTC dermatology medication such as skin allergy restrain the market growth. Bausch Health Companies Inc.; Perrigo Company Plc; Bayer AG; Mylan Inc; a Viatris Company; Johnson and Johnson Services, Inc.; LEO Pharma A/S; GlaxoSmithKline Plc.; Galderma; Dr. Reddy's Laboratories; and Acella Pharmaceuticals, LLC are among the leading companies operating in the US dermatology OTC medications market.
The Report Segments US Dermatology OTC Medications Market as Follows:
By Product Type
- Tablets and Capsules
- Creams and Ointments
- Skin Bleaching
- Wart Remover
By Route of Administration
By Distribution Channel
- Online Distribution
- Hospital and Retail Pharmacies
- Super and Hyper Markets
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