More than two decades ago, retinoids have been extensively used for the treatment of acne, skin aging, psoriasis, and certain types of cancer. Retinoids are a class of medications which are chemically derived from vitamin A.
Retinoids regulate several transcription factors like RXR and RAR located within the nucleus of various cells. Today a variety of retinoids are available in the market: retinol, adapalene, tretinoin, tazarotene, bexarotene, and alitretinoin.
The retinoids come in gel, cream, and liquid forms. Tretinoin is considered the most effective and certainly the most widely investigated retinoid for photo aging therapy. Tretinoin was the first retinoid approved by the FDA to treat wrinkles.
Retinoids slower the growth of skin cells in patients suffering from psoriasis. Retinoids reduce the inflammation and restore the normal epidermal differentiation that is absent in psoriatic lesions. Retinoids are very helpful for many common skin problems but are not without risks like dryness and irritation, changes in skin color, redness, blistering, swelling, and others.
Furthermore, retinoids are also used for the treatment of pigmentary disorders like post-inflammatory hyperpigmentation, actinic lentiginous, and melasma.
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Retinoids Market: Drivers and Restraints
The increasing burden associated with acne leads patients to seek professional help in the form of prescription treatments. This is further expected to boost the growth of the global retinoids market. Increasing demand for minimally invasive treatment procedure is also driving the growth of the global retinoids market.
It is observed that the dermatologists prefer to treat skin problems through less invasive procedures or the use of topical applications compared with surgical methods. Irritant reactions such as scaling, burning, or dermatitis related with the retinoid therapy may limit their acceptance among the end users which is expected to hamper the growth of the global retinoids market.
Furthermore, in order to minimize the side effects caused due to retinoids, people are opting for alternative therapies which are also expected to hamper the growth of the global retinoids market. In order to reduce these side effects, numerous new drug delivery systems have been developed.
For instance, nanoparticles have shown a noble potential in improving the tolerability, stability, and efficacy of retinoids like retinol and tretinoin.
Retinoids Market: Overview
Retinoids market is anticipated to grow with a significant growth rate over the forecast period 2018-2028. Retinoids are generally prescribed by dermatologists for mild to moderate acne. Retinoids generally come in three different forms: cream, gels, and liquid.
These form of retinoids result in reduced keratinization and proliferation of skin cells. Based on the distribution channel, retinoids market is segmented into retail pharmacies, hospital pharmacies, drug stores, e-commerce, and others.
Others distribution channel include supermarkets & hypermarkets and drug stores. Retinoids can be obtained over the counter at supermarkets and pharmacies.
Retinoids Market: Regional Outlook
On the basis of geography, the global retinoids market is segmented into eight key regions, namely North America, Latin America, Western Europe, Eastern Europe, the Asia Pacific excluding China, and Japan, China, Japan, and Middle East & Africa.
North America retinoids market is expected to hold maximum market share in the global retinoids market owing to the presence of established market players. Asia Pacific retinoids market is anticipated to grow at a rapid pace with the maximum CAGR over the forecast period due to rising healthcare facilities in the region.
However, the retinoids market in low middle-income countries like Latin America, and the Middle East and Africa is anticipated to show a slow growth over the forecast period due to lack of awareness and trained healthcare professionals.
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Retinoids Market: Key Players
Some of the key players in the global retinoids market are Mylan N.V., Ion Labs Inc., Bausch Health Companies Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche AG, and others. The established players in the retinoids market are majorly focusing to adopt both organic and inorganic strategies in order to gain more market share in the global retinoids market.
Medium sized market players are expanding their geographical presence to increase their market presence in the global retinoids market.
The regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia-Pacific Excluding China and Japan (India, ASEAN, Australia & New Zealand)
- China
- Japan
- The Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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