Dermatology OTC Medications Market for Acne Segment to Grow Significantly During 2021–2028

According to our latest research study on “Dermatology OTC Medications Market Forecast to 2028 – COVID-19 Impact Analysis – by Product Type, Route of Administration, Indication, and Distribution Channel,” the market is expected to grow from US$ 15,456.63 million in 2021 to US$ 21,313.40 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights trends prevailing in the market and the factors governing the dermatology OTC medications market growth.

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Dermatology over-the-counter (OTC) drugs are sold directly to a consumer without a prescription from a healthcare professional, as opposed to prescription drugs, which may be sold only to consumers possessing a valid prescription. In many countries, OTC drugs are selected by a regulatory agency to ensure that they contain ingredients that are safe and effective when used without a physician's care. These medications are widely used in skin diseases, such as dermatitis, acne, psoriasis, skin bleaching, fungal infections, and warts.

Dermatology OTC medicines are directly sold by pharmacies and drug stores without the prescription from the physicians, as opposed to the drugs prescribed and maybe only sold to consumers who hold a valid prescription.

Market leaders operating in the market have undertaken various organic growth strategies in the Dermatology OTC Medications market. The Dermatology OTC Medications market majorly consists of the players such as Bausch Health Companies Inc.; Perrigo Company plc; Bayer AG; Viatris Inc.; Johnson and Johnson Services, Inc.; LEO Pharma A/S; GlaxoSmithKline plc.; Galderma; Dr. Reddy's Laboratories; and Acella Pharmaceuticals, LLC. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaboration.

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The report segments the dermatology OTC medications market as follows:

The market is segmented into product type, route of administration, indication, and distribution channel. Based on product type, the global market is segmented into tablets and capsules; gels; creams and ointments; and others. The creams and ointments segment held the largest share of the market in 2021. However, the tablets and capsules segment is estimated to register the highest CAGR during the forecast period. Based on route of administration, the market is bifurcated into topical and oral. The topical segment held the largest share of the market in 2021; however, the oral segment is estimated to register the highest CAGR during the forecast period.

Based on indication, the market is segmented into dermatitis, acne, psoriasis, skin bleaching, fungal disease, warts, and others. The acne segment held the largest share of the market in 2021; however, the same segment is estimated to register the highest CAGR during the forecast period.

Based on distribution channel, the market is bifurcated into online distribution and offline distribution. The topical segment held the largest share of the market in 2021; however, the oral segment is estimated to register the highest CAGR during the forecast period. Furthermore, offline distribution is sub-segment into retail & hospital pharmacies and super & hyper markets. The retail & hospital pharmacies segment held the largest share of the market in 2021.

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