The Dermatology OTC Drug Market is expected to register a CAGR of 10.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Dermatology OTC Drug Market report covers segmental analysis by Indication (Dermatitis, Acne, Psoriasis, Skin Bleaching, Anti-fungal, Wart Remover, Others); Route of Administration (Topical, Oral); Distribution Channel (Online Distribution, Hospital and Retail Pharmacies, Super and Hyper Markets), and Geography (North America, Europe, Asia Pacific, and South and Central America). The global analysis is further broken down at the regional level and major countries. The report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Dermatology OTC Drug Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Dermatology OTC Drug Market Segmentation
Indication- Dermatitis
- Acne
- Psoriasis
- Skin Bleaching
- Anti-fungal
- Wart Remover
- Topical
- Oral
- Online Distribution
- Hospital and Retail Pharmacies
- Super and Hyper Markets
Strategic Insights
Dermatology OTC Drug Market Growth Drivers- E-Commerce Growth and Easy Accessibility: The rise of online shopping platforms has made Dermatology OTC Drugs more accessible to a global consumer base. The ability to compare products, read reviews, and purchase treatments from the comfort of home has driven growth in this market. E-commerce platforms are making it easier for consumers to access high-quality, branded, and niche dermatology drugs that may not be available in local stores, contributing to market expansion.
- Affordability and Convenience Compared to Prescription Drugs: One of the key advantages of Dermatology OTC Drugs is their affordability compared to prescription treatments, especially in markets where healthcare access may be limited. As a result, consumers are opting for OTC solutions to address common skin conditions. The lower cost, combined with the convenience of easy access without needing a doctor’s visit, makes Dermatology OTC Drugs a preferred choice for many.
- Influence of Dermatologists and Healthcare Professionals: While Dermatology OTC Drugs are available without a prescription, many dermatologists and healthcare professionals are increasingly recommending specific OTC treatments to patients. This endorsement from trusted professionals has increased consumer confidence in these products, driving market growth. Dermatologists often suggest OTC products as part of comprehensive treatment plans, especially for mild to moderate skin conditions, which supports the market’s expansion.
- Rising Skin Disorders Prevalence: The increasing prevalence of skin conditions such as acne, eczema, psoriasis, and rosacea is a major driver of the Dermatology OTC Drug Market. As more people suffer from these conditions, the demand for effective, accessible treatments rises. The convenience of OTC drugs, which can be purchased without a prescription, is particularly appealing to individuals seeking quick and easy relief for their dermatological concerns.
- Shift Towards Self-Care and Preventative Health: Consumers are becoming more proactive about their health, and this is reflected in their increasing use of Dermatology OTC Drugs. With a growing focus on self-care, individuals are turning to OTC skincare products for daily maintenance and to prevent skin issues before they require medical intervention. This shift towards self-diagnosis and self-treatment is expanding the market for dermatology-focused OTC products.
- Regulatory Support and Expansion of Product Approvals: The regulatory environment surrounding Dermatology OTC Drugs has been evolving, with governments and regulatory bodies such as the FDA providing more guidance and approval pathways for over-the-counter dermatology treatments. This regulatory support helps streamline the approval process for new drugs, thereby encouraging the development and availability of innovative Dermatology OTC Drugs to the market, facilitating overall growth.
- Development of Multi-Functional Dermatology Products: Consumers are gravitating toward products that can serve multiple purposes, offering both convenience and value. In the Dermatology OTC Drug Market, there is an opportunity to create multi-functional products that not only address specific skin concerns but also offer added benefits. For example, combining anti-aging, moisturizing, and sun protection in one product could appeal to busy consumers seeking all-in-one solutions. Developing products that combine skincare with other personal care aspects, like fragrance or hair care, will capture a larger share of the market by meeting broader consumer needs.
- Collaborations with Dermatology Professionals: As consumers place increasing trust in dermatologists and healthcare providers, partnering with dermatology professionals offers a unique opportunity in the Dermatology OTC Drug Market. By working with respected experts, brands can enhance the credibility of their OTC products, receive professional endorsements, and even co-develop specialized products for specific dermatological concerns. These collaborations could lead to the creation of high-performance OTC drugs, designed with a deeper understanding of medical and consumer needs, boosting both efficacy and brand reputation.
- Focus on Eco-Friendly and Clean Ingredients: There is a growing opportunity in the Dermatology OTC Drug Market for brands that prioritize sustainability and clean, ethical ingredients. As consumers become more conscious about the environmental impact of their purchases, there is a rising demand for eco-friendly and cruelty-free skincare products. By focusing on clean formulations with natural, organic, and sustainably sourced ingredients, companies can tap into the eco-conscious consumer segment. Additionally, packaging innovations, such as recyclable or biodegradable materials, will further attract consumers looking for environmentally responsible options in Dermatology OTC Drugs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Dermatology OTC Drug Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Dermatology OTC Drug Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Dermatology OTC Drug Market is expected to register a CAGR of 10.3% from 2025-2031.
The major factors impacting the Dermatology OTC Drug Market are: E-Commerce Growth and Easy Accessibility, Affordability and Convenience Compared to Prescription Drugs and Influence of Dermatologists and Healthcare Professionals
Key future trends in this market are - Rising Skin Disorders Prevalence, Shift Towards Self-Care and Preventative Health and Regulatory Support and Expansion of Product Approvals
Key companies of this market are: Johnson and Johnson Services, Inc., Viatris Inc., Leo Pharma AS, GlaxoSmithKline plc., Nestlé Skin Health S.A (Gladerma), Bausch Health Companies Inc., Perrigo Company plc, ACELLA PHARMACEUTICALS, LLC, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Dermatology OTC Drug Market - By Indication
1.3.2 Dermatology OTC Drug Market - By Route of Administration
1.3.3 Dermatology OTC Drug Market - By Distribution Channel
1.3.4 Dermatology OTC Drug Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DERMATOLOGY OTC DRUG MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. DERMATOLOGY OTC DRUG MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DERMATOLOGY OTC DRUG MARKET - GLOBAL MARKET ANALYSIS
6.1. DERMATOLOGY OTC DRUG - GLOBAL MARKET OVERVIEW
6.2. DERMATOLOGY OTC DRUG - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DERMATOLOGY OTC DRUG MARKET - REVENUE AND FORECASTS TO 2028 - INDICATION
7.1. OVERVIEW
7.2. INDICATION MARKET FORECASTS AND ANALYSIS
7.3. DERMATITIS
7.3.1. Overview
7.3.2. Dermatitis Market Forecast and Analysis
7.4. ACNE
7.4.1. Overview
7.4.2. Acne Market Forecast and Analysis
7.5. PSORIASIS
7.5.1. Overview
7.5.2. Psoriasis Market Forecast and Analysis
7.6. SKIN BLEACHING
7.6.1. Overview
7.6.2. Skin Bleaching Market Forecast and Analysis
7.7. ANTI-FUNGAL
7.7.1. Overview
7.7.2. Anti-fungal Market Forecast and Analysis
7.8. WART REMOVER
7.8.1. Overview
7.8.2. Wart Remover Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. DERMATOLOGY OTC DRUG MARKET - REVENUE AND FORECASTS TO 2028 - ROUTE OF ADMINISTRATION
8.1. OVERVIEW
8.2. ROUTE OF ADMINISTRATION MARKET FORECASTS AND ANALYSIS
8.3. TOPICAL
8.3.1. Overview
8.3.2. Topical Market Forecast and Analysis
8.4. ORAL
8.4.1. Overview
8.4.2. Oral Market Forecast and Analysis
9. DERMATOLOGY OTC DRUG MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. ONLINE DISTRIBUTION
9.3.1. Overview
9.3.2. Online Distribution Market Forecast and Analysis
9.4. HOSPITAL AND RETAIL PHARMACIES
9.4.1. Overview
9.4.2. Hospital and Retail Pharmacies Market Forecast and Analysis
9.5. SUPER AND HYPER MARKETS
9.5.1. Overview
9.5.2. Super and Hyper Markets Market Forecast and Analysis
10. DERMATOLOGY OTC DRUG MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Dermatology OTC Drug Market Overview
10.1.2 North America Dermatology OTC Drug Market Forecasts and Analysis
10.1.3 North America Dermatology OTC Drug Market Forecasts and Analysis - By Indication
10.1.4 North America Dermatology OTC Drug Market Forecasts and Analysis - By Route of Administration
10.1.5 North America Dermatology OTC Drug Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Dermatology OTC Drug Market Forecasts and Analysis - By Countries
10.1.6.1 United States Dermatology OTC Drug Market
10.1.6.1.1 United States Dermatology OTC Drug Market by Indication
10.1.6.1.2 United States Dermatology OTC Drug Market by Route of Administration
10.1.6.1.3 United States Dermatology OTC Drug Market by Distribution Channel
10.1.6.2 Canada Dermatology OTC Drug Market
10.1.6.2.1 Canada Dermatology OTC Drug Market by Indication
10.1.6.2.2 Canada Dermatology OTC Drug Market by Route of Administration
10.1.6.2.3 Canada Dermatology OTC Drug Market by Distribution Channel
10.1.6.3 Mexico Dermatology OTC Drug Market
10.1.6.3.1 Mexico Dermatology OTC Drug Market by Indication
10.1.6.3.2 Mexico Dermatology OTC Drug Market by Route of Administration
10.1.6.3.3 Mexico Dermatology OTC Drug Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Dermatology OTC Drug Market Overview
10.2.2 Europe Dermatology OTC Drug Market Forecasts and Analysis
10.2.3 Europe Dermatology OTC Drug Market Forecasts and Analysis - By Indication
10.2.4 Europe Dermatology OTC Drug Market Forecasts and Analysis - By Route of Administration
10.2.5 Europe Dermatology OTC Drug Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Dermatology OTC Drug Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Dermatology OTC Drug Market
10.2.6.1.1 Germany Dermatology OTC Drug Market by Indication
10.2.6.1.2 Germany Dermatology OTC Drug Market by Route of Administration
10.2.6.1.3 Germany Dermatology OTC Drug Market by Distribution Channel
10.2.6.2 France Dermatology OTC Drug Market
10.2.6.2.1 France Dermatology OTC Drug Market by Indication
10.2.6.2.2 France Dermatology OTC Drug Market by Route of Administration
10.2.6.2.3 France Dermatology OTC Drug Market by Distribution Channel
10.2.6.3 Italy Dermatology OTC Drug Market
10.2.6.3.1 Italy Dermatology OTC Drug Market by Indication
10.2.6.3.2 Italy Dermatology OTC Drug Market by Route of Administration
10.2.6.3.3 Italy Dermatology OTC Drug Market by Distribution Channel
10.2.6.4 Spain Dermatology OTC Drug Market
10.2.6.4.1 Spain Dermatology OTC Drug Market by Indication
10.2.6.4.2 Spain Dermatology OTC Drug Market by Route of Administration
10.2.6.4.3 Spain Dermatology OTC Drug Market by Distribution Channel
10.2.6.5 United Kingdom Dermatology OTC Drug Market
10.2.6.5.1 United Kingdom Dermatology OTC Drug Market by Indication
10.2.6.5.2 United Kingdom Dermatology OTC Drug Market by Route of Administration
10.2.6.5.3 United Kingdom Dermatology OTC Drug Market by Distribution Channel
10.2.6.6 Rest of Europe Dermatology OTC Drug Market
10.2.6.6.1 Rest of Europe Dermatology OTC Drug Market by Indication
10.2.6.6.2 Rest of Europe Dermatology OTC Drug Market by Route of Administration
10.2.6.6.3 Rest of Europe Dermatology OTC Drug Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Dermatology OTC Drug Market Overview
10.3.2 Asia-Pacific Dermatology OTC Drug Market Forecasts and Analysis
10.3.3 Asia-Pacific Dermatology OTC Drug Market Forecasts and Analysis - By Indication
10.3.4 Asia-Pacific Dermatology OTC Drug Market Forecasts and Analysis - By Route of Administration
10.3.5 Asia-Pacific Dermatology OTC Drug Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Dermatology OTC Drug Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Dermatology OTC Drug Market
10.3.6.1.1 Australia Dermatology OTC Drug Market by Indication
10.3.6.1.2 Australia Dermatology OTC Drug Market by Route of Administration
10.3.6.1.3 Australia Dermatology OTC Drug Market by Distribution Channel
10.3.6.2 China Dermatology OTC Drug Market
10.3.6.2.1 China Dermatology OTC Drug Market by Indication
10.3.6.2.2 China Dermatology OTC Drug Market by Route of Administration
10.3.6.2.3 China Dermatology OTC Drug Market by Distribution Channel
10.3.6.3 India Dermatology OTC Drug Market
10.3.6.3.1 India Dermatology OTC Drug Market by Indication
10.3.6.3.2 India Dermatology OTC Drug Market by Route of Administration
10.3.6.3.3 India Dermatology OTC Drug Market by Distribution Channel
10.3.6.4 Japan Dermatology OTC Drug Market
10.3.6.4.1 Japan Dermatology OTC Drug Market by Indication
10.3.6.4.2 Japan Dermatology OTC Drug Market by Route of Administration
10.3.6.4.3 Japan Dermatology OTC Drug Market by Distribution Channel
10.3.6.5 Rest of Asia-Pacific Dermatology OTC Drug Market
10.3.6.5.1 Rest of Asia-Pacific Dermatology OTC Drug Market by Indication
10.3.6.5.2 Rest of Asia-Pacific Dermatology OTC Drug Market by Route of Administration
10.3.6.5.3 Rest of Asia-Pacific Dermatology OTC Drug Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Dermatology OTC Drug Market Overview
10.4.2 Middle East and Africa Dermatology OTC Drug Market Forecasts and Analysis
10.4.3 Middle East and Africa Dermatology OTC Drug Market Forecasts and Analysis - By Indication
10.4.4 Middle East and Africa Dermatology OTC Drug Market Forecasts and Analysis - By Route of Administration
10.4.5 Middle East and Africa Dermatology OTC Drug Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Dermatology OTC Drug Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Dermatology OTC Drug Market
10.4.6.1.1 South Africa Dermatology OTC Drug Market by Indication
10.4.6.1.2 South Africa Dermatology OTC Drug Market by Route of Administration
10.4.6.1.3 South Africa Dermatology OTC Drug Market by Distribution Channel
10.4.6.2 Saudi Arabia Dermatology OTC Drug Market
10.4.6.2.1 Saudi Arabia Dermatology OTC Drug Market by Indication
10.4.6.2.2 Saudi Arabia Dermatology OTC Drug Market by Route of Administration
10.4.6.2.3 Saudi Arabia Dermatology OTC Drug Market by Distribution Channel
10.4.6.3 U.A.E Dermatology OTC Drug Market
10.4.6.3.1 U.A.E Dermatology OTC Drug Market by Indication
10.4.6.3.2 U.A.E Dermatology OTC Drug Market by Route of Administration
10.4.6.3.3 U.A.E Dermatology OTC Drug Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Dermatology OTC Drug Market
10.4.6.4.1 Rest of Middle East and Africa Dermatology OTC Drug Market by Indication
10.4.6.4.2 Rest of Middle East and Africa Dermatology OTC Drug Market by Route of Administration
10.4.6.4.3 Rest of Middle East and Africa Dermatology OTC Drug Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Dermatology OTC Drug Market Overview
10.5.2 South and Central America Dermatology OTC Drug Market Forecasts and Analysis
10.5.3 South and Central America Dermatology OTC Drug Market Forecasts and Analysis - By Indication
10.5.4 South and Central America Dermatology OTC Drug Market Forecasts and Analysis - By Route of Administration
10.5.5 South and Central America Dermatology OTC Drug Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Dermatology OTC Drug Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Dermatology OTC Drug Market
10.5.6.1.1 Brazil Dermatology OTC Drug Market by Indication
10.5.6.1.2 Brazil Dermatology OTC Drug Market by Route of Administration
10.5.6.1.3 Brazil Dermatology OTC Drug Market by Distribution Channel
10.5.6.2 Argentina Dermatology OTC Drug Market
10.5.6.2.1 Argentina Dermatology OTC Drug Market by Indication
10.5.6.2.2 Argentina Dermatology OTC Drug Market by Route of Administration
10.5.6.2.3 Argentina Dermatology OTC Drug Market by Distribution Channel
10.5.6.3 Rest of South and Central America Dermatology OTC Drug Market
10.5.6.3.1 Rest of South and Central America Dermatology OTC Drug Market by Indication
10.5.6.3.2 Rest of South and Central America Dermatology OTC Drug Market by Route of Administration
10.5.6.3.3 Rest of South and Central America Dermatology OTC Drug Market by Distribution Channel
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL DERMATOLOGY OTC DRUG MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. DERMATOLOGY OTC DRUG MARKET, KEY COMPANY PROFILES
13.1. JOHNSON AND JOHNSON SERVICES, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. VIATRIS INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. LEO PHARMA AS
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. GLAXOSMITHKLINE PLC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. NESTLé SKIN HEALTH S.A (GLADERMA)
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. BAUSCH HEALTH COMPANIES INC.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. PERRIGO COMPANY PLC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ACELLA PHARMACEUTICALS, LLC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. TEVA PHARMACEUTICAL INDUSTRIES LTD.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SUN PHARMACEUTICAL INDUSTRIES LTD.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Johnson and Johnson Services, Inc.
2. Viatris Inc.
3. Leo Pharma AS
4. GlaxoSmithKline plc.
5. Nestlé Skin Health S.A (Gladerma)
6. Bausch Health Companies Inc.
7. Perrigo Company plc
8. ACELLA PHARMACEUTICALS, LLC
9. Teva Pharmaceutical Industries Ltd.
10. Sun Pharmaceutical Industries Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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