The US dermatology OTC medications market was valued at US$ 952. 97 million in 2020 and is projected to reach US$ 1,124. 56 million by 2028; it is expected to grow at a CAGR of 2. 1% from 2021 to 2028. Rising prevalence of skin abnormalities and increasing availability of dermatology medication over the counter (OTC) are the key factors fueling the market growth.
New York, May 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "US Dermatology OTC Medications Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Product Type ; Indication ; Route of Administration ; Distribution Channel" - https://www.reportlinker.com/p06075790/?utm_source=GNW
Moreover, growing OTC market is expected to foster the market growth during the forecast period. However, the side effects associated with OTC dermatology medication such as skin allergy, hinder the growth of the US dermatology OTC medications market. Additionally, the COVID-19 has affected a large population in the US leading to an unprecedented upsurge in demand for popular OTC drugs. Consumers appear to be trying to address illness symptoms on their own, to avoid doctor’s office. Physical distancing and stay-at-home orders have forced consumer to shop differently. Also, continuous use of mask and constant handwashing has led to skin irritation, and maskne. Constant handwashing has led to increase in conditions like skin dryness and eczema, this has led to increase in demand for dermatology OTC products.
The US dermatology OTC medications market is segmented in terms of product type, indication, route of administration, and distribution channel.Based on product type, the market is segmented into tablets and capsules, oils, gels, creams and ointments, and others.
The creams and ointments segment held the largest share of the market in 2020, whereas the tablets and capsules segment are anticipated to register the highest CAGR during the forecast period.Based on indication, the market is segmented into dermatitis, acne, psoriasis, skin bleaching, anti-fungal, wart remover, and others.
In 2020, the dermatitis segment held the largest share of the market, whereas the psoriasis segment is expected to grow at the fastest rate of CAGR.In terms of route of administration, the US dermatology OTC medications market is categorized into topical and oral.
In 2020, the topical segment held a larger share of the market, and the same segment is expected to grow at a faster rate of CAGR during the forecast period. Based on distribution channel, the market is segmented into, hospital and retail pharmacies, and super and hyper markets. In 2020, the hospital and retail pharmacies segment held the largest share of the market. Whereas, the online distribution segment is expected to grow at the fastest rate of CAGR during the 2021-2028.
The World Health Organization, Centers for Disease Control and Prevention, and National Institute of Health are among the essential primary and secondary sources studied while preparing this report.
Read the full report: https://www.reportlinker.com/p06075790/?utm_source=GNW
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