Dermatology market to reach £5.12bn by 2028
The global dermatology market is expected to reach a value of $7.04 billion (£5.12bn) by 2028, driven by demand for topical medications.
Research by analyst Grand View Research predicts that the market will expand at a CAGR (compound annual growth rate) of 6.9% between 2021 and 2028.
A rise in consumer interest in dermatological medications, such as antiinflammatory agents, anti-infective, local anaesthetics, cleansers, and emollients to treat acne is a major factor driving spend. Additionally, an increased awareness of skin diseases, demand for fast diagnosis, and a rise in cases of skin cancer and other skin problems are all driving growth, according to the report.
Clinical monitoring accounted for the largest revenue share of dermatological services in 2020, figures showed. This was due to an increase in the number of clinical trials and the need to monitor those trials efficiently.
