South Korea Acne Vulgaris Market Overview
South Korea Acne Vulgaris Market size is $119.56 in 2019, growing at a CAGR of 2.8% during the forecast period 2020-2025. Acne Vulgaris is a multifactorial skin disease that causes lesions on areas of the body with a large concentration of oil glands, such as face, chest, neck and back. It is a common disease of the pilosebaceous unit, involving abnormalities in sebum production, follicular epithelial desquamatin and bacterial proliferation. The disease occurs most frequently during childhood and adolescence also appear in adults. It occurs when dead skin cells, bacteria, and oil (sebum) block hair follicles. Acne vulgaris can cause psychological pressure, social withdrawal and reduced self-esteem in addition to carrying a significant risk of permanent facial scarring. There is also a rise in expenditure in the exploration of multiple alternatives to effectively treat Acne Vulgaris.
Report Coverage
The report:
“South Korea Acne Vulgaris Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the South Korea Acne Vulgaris Market.
Key Takeaways
- Increasing prevalence of skin-related issues and rising awareness regarding skin care products, accelerating the demand of South Korea Acne Vulgaris.
- Changing lifestyle, upsurge in cosmetic expenditure and rising awareness of disease boosts the acne vulgaris treatment market growth within the region.
- Growing demand for innovative therapeutics, and rising awareness among people of South Korea is set to accelerate market growth.
By Type - Segment Analysis
In 2019, Topical Retinoids South Korea Acne Vulgaris segment dominated the South Korea Acne Vulgaris Market in terms of revenue is estimated to grow at a CAGR of 3.2%. Skin sensitivity or irritation with use of topical retinoid is a minor challenge faced by this segment as people are apprehensive to its usage. Thus, many Korean skin care products tend to use very less or no retinol ingredients in their formulations. It is used to reduce acne as well as prevents aging, fine lines, dark spots and dull skin. Various studies conducted by Korean Society for Acne Research, have inferred that acne vulgaris is treated better by topical methods and also adapalene is used in combination with clindamycin or doxycycline for severe cases. According to International Trade Administration, South Korea is the 9th largest cosmetics market in the world. Thus, more skin care products are being produced here and their use is also high abetting towards the segmental growth of the market.
Drivers – South Korea Acne Vulgaris Market
Rise in Adoption of Skin Care Products
Growing conscious about the ingredients of skin care products and manufacturing process supports the market growth. For instance, according to a survey conducted by Philips, 44% of women in South Korea expect the use of more natural and organic ingredients rather than chemicals in skin care products. The market expansion is driven by increased demand for minimally invasive therapies combined with the fact that dermatologists tend to treat skin disorders with the use of topical applications or less invasive procedures such as lotion, creams or gels instead of surgical methods.
Challenges – South Korea Acne Vulgaris Market
Failure of Pivotal Clinical Trials
Failure of pivotal clinical trials for key candidates remains an impediment to the growth of South Korea Acne Vulgaris Market. Further, Off-label use of anti-acne drugs such as Diane-35 as birth-control measures lead to serious consequences such as breast cancer and venous thromboembolism (VTE) restraining the market growth. Key players in the market are also facing failures in the late-stage clinical trials that are another key factor obstructing the market growth. For instance, Olumacostat glasaretil (Dermira), SNA-001 (Sienna), XEN801 (Xenon), and JNJ-10229570 AAA (Valeant) have faced discontinuation in the recent past.
South Korea Acne Vulgaris Industry Outlook
Product Launches was the key strategy of the players in the South Korea Acne Vulgaris Industry. South Korea Acne Vulgaris top 10 companies include Bayer AG, Gladerma S.A., Pfizer Inc., Allergan, Bausch Health Company, GlaxoSmithKline Plc, Otsuka Pharmaceuticals, Jeilmedix Pharmaceutical, Kwan Dong Pharma, and Teva Pharmaceuticals.
Acquisitions/Product Launches
In February 2020, Bausch Health Company launched new telemedicine platform on Dermatology.com, to consult with a health care professional, order and potentially receive a prescription on-demand for many of the branded dermatology products particularly acne vulgaris and fine lines treatment products.
In November 2016, Pfizer and Allergan announced merger to create the world’s largest pharmaceutical powerhouse, which includes portfolio of brands from Botox, Kybella to Aczone for acne vulgaris.
