The global Acne Treatment Market is expected to reach USD 7.19 billion by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027. This is attributable to increasing incidence of acne amongst the people and growing dermatology consultations across the globe. Fortune Business Insights, published this information in its latest report, titled “Acne Treatment Market Size, Share &COVID-19 Impact Analysis, By Product (Retinoids, Antibiotics, Isotretinoin, and Others), By Treatment Modality (Oral and Topical), By Age Group (10 to 17, 18 to 44, 45 to 64 and 65 Above) By Distribution Channel (Hospital pharmacies, Retail pharmacies and, E-pharmacies), and Regional Forecast, 2020-2027.” The report further mentions that the market was worth USD 5.46 billion in 2019.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
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Increasing Incidence of Acne to Bolster Growth
The advent of consuming junk food and high disposable income is resulting in increasing cases of skin disorders across the globe. According to the American Academy of Dermatology (ADA), around 85% between the age group of 12 and 24 have experienced minor acne once in a lifetime. Acne incidences are rising in adults, with over 15% affected are women. The rising skin conditions such as eczema, acne, and psoriasis is driving the demand for dermatology consultations globally. The increasing cases of skin ailments are expected to drive the global acne treatment market during the forecast period.