The global Retinoids Market is worth US$ 1.5 Billion as of now and is expected to reach US$ 2.5 Billion by the year 2032 at a CAGR of 5.4% between 2022 and 2032.
Dermatologists, these days, prefer treating skin problems through less invasive procedures/topical treatments in place of surgical procedures. Also, retinoids come into the picture post-surgery, with a growing inclination toward natural and organic commodities. Rising incidences of acne is another factor driving the retinoids market. The market participants are also manufacturing moisturizers, wrinkle reducers, sunscreens, nail care products, acne reducers, and nail care creams using retinoids.
The US FDA has approved various formulations of retinoids, which has, in turn, resulted in several product offerings containing retinoids. As per the American Academy of Dermatology (AAD), the US is home to maximum people suffering from acne. As such, over 50 Mn Americans are affected by acne every single year.
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Additionally, more number of people are searching for anti-aging products for preventing age spots, hair damage, dry skin, uneven skin tone, and wrinkles. Retinoids have also found their way through treating pigmentary conditions like actinic lentiginous, melisma, and post-inflammatory hyperpigmentation. They are available in the form of cream products, gels, and liquids. With skin care taking the front seat, the global retinoids market is bound to grow with grandeur in the near future.
Retinoids are known to cause skin irritation, which could be inclusive of dermatitis, burning, or scaling. Plus, the end-consumers are getting aware about DIY solutions regarding skin care, which could hamper the retinoids market. The US FDa has also approved the medications that contain botulinum toxin encompassing Dysport, Botox, Jeuveau, and Xeomin. Future Market Insights, through its latest market study entitled “Retinoids Market”, enlists these facts with future perspectives.
Key Takeaways from Retinoids Market
- North America, led by the US, holds more than 30% of the market share. This could be credited to rising incidences of skin disorders and facial acne over here.
- Europe stands second with Germany leading from the front. It holds more than 10% of the market share. This could be reasoned with enhancements in healthcare infrastructure with growing awareness about appropriate skincare regimen and utilization of retinol and various other ingredients in the cosmetic medications and products.
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- Coming to the Asia-Pacific, Japan holds more than 9% of the market share; due to an ever-increasing utilization of retinoids in skin care medication and dermatology. Research states that Japan was home to nearly 3,050 general hospitals as of October 2020. Call to look better irrespective of age is driving adoption of the cosmetic products containing good quantity of retinoids for improving level of collagen in the body.
- Synthetic retinoids overpower conventional ones in terms of pharmacological qualities as they pass through specific RAR (retinoic acid receptors), which are capable of reducing side-effects.
“With incidences of acne substantiating throughout, the global retinoids market is expected to witness an extensive research in the forecast period”, says an analyst from Future Market Insights”.
Competitive Arena
- Bausch Health Companies Inc., through its dermatology division “Ortho Dermatologics”, delivered 4 presentations at the Florida Society of Dermatology Physician Assistants (FSDPA). They covered novel clinical data related to SILIQ, DUOBRIL, and JUBLIA injection, along with several encore presentations.
- Differin, the very first consumer acne medication approved by the US FDA and doled out by Galderma Laboratories, L.P., has started getting subjected to an audio and a digital advertising campaign that would translate into strategic partnership with Acast Creative.
- The US FDA, in August 2018, approved once-daily retinoid product termed as “Altreno” floored by Ortho Dermatologics to treat patients aged 9 and above.
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Key Companies Profiled
- GlaxoSmithKline Inc.
- Mylan Pharmaceuticals Inc.
- Sun Pharmaceutical Industries Ltd.
- Janssen Pharmaceuticals Inc.
- Bausch Health Companies Inc.
- Ortho Dermatologics
Key Market Segments Covered in Retinoids Industry Research
By Type:
- Natural Retinoids
- Synthetic Retinoids
By Application:
- Acne
- Psoriasis
- Anti-aging
- Others
By Distribution Channel:
- Hospitals Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Supermarkets / Hypermarkets
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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