Upsurge in cosmetic expenditure is anticipated to drive the South Korea Acne Vulgaris Market during the forecast period 2019-2025. South Korea Acne Vulgaris Market size is $119.56 in 2019, growing at a CAGR of 2.8% during the forecast period 2020-2025.
The South Korea Acne Vulgaris market is growing at a significant rate attributed to the Changing lifestyle, upsurge in cosmetic expenditure and rising awareness of diseases. Increasing prevalence of skin-related issues and rising awareness regarding skin care products is set to grow the market. Enhancing demand for minimally invasive treatments coupled with the fact that Dermatologists prefer to treat skin diseases through the use of topical applications or less invasive procedures such as lotion, creams or gels rather than surgical methods will fuel the market expansion. Designing effective yet well tolerated cosmetic treatment offering simplified procedures that suit patient lifestyles are more likely to optimize adherence and outcomes. For instance, to permanently minimize the occurrence of acne, clinicians suggest the use of combination therapy such as a topical antibiotic with a retinoid.
Acne Vulgaris is a widespread pilosebaceous disease that involves sebum development defects, follicular epithelial desquamatin, and bacterial proliferation. During childhood and adolescence, the disease occurs most often, but it can also manifest in adults. Acne vulgaris is a type of disorder that is characterized by the occurrence of seborrhea (scaly red skin), papules, pimples, comedones, and nodules on the skin and it primarily affects the back, face, and chest. Despite the significant prevalence and high impact of acne vulgaris, the availability of therapeutic options is limited for the patients owing to the presence of stringent acne management guidelines, and medication regulation. To serve the rising demand driven by newly established distribution agreements for acne vulgaris therapeutics in South Korea, leading manufacturers are focused to ramp up their manufacturing operations in the country.
In recent years, new therapeutic modalities and multiple permutations and combinations have been designed due to a greater understanding of the pathogenesis of acne. Although Tropical and Hormonal treatment are well established and widely used in South Korea, the choice of the treatment depends upon the patient interaction with the dermatologist and their preconceived notions. Acne Vulgaris is one of the most common skin disorders which dermatologists have to treat where various physical treatment such as light, laser, photodynamic therapy, peeling are used for the treatment of acne and physical treatment in the form of lesion removal, photo-therapy is also helpful.
Acne is prevalent among the adolescents of South Korea and the population has grown by 0.09% in 2020 according to the World Population Review. The rising trend of skin care has driven such retinoid for treating acne. Metretinamide reduces oil production and blockage of pores, thus helping in preventing acne. In South Korea, skin excision is a technique which involves removing a skin lesion in the deeper levels of the skin down to the fatty layer under the skin. This technique also done when there is a concern about skin cancer.
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South Korea Acne Vulgaris Market Growth Drivers:
- Increasing demand for skin care products in South Korea:
The increasing need for skin care products owing to growing prevalence of skin-related problems will propel the market growth. Increasing understanding of the ingredients in skin care products and the production process would further help the growth of the industry. For example, 44% of women in South Korea expect the use of more natural and organic ingredients rather than chemicals in skin care products, according to a Philips survey also contribute abetting the growth of the market.
- Increasing Prevalence Of Acne Vulgaris Condition, Especially In Teenagers And Millennial:
Another main driver of the South Korea Acne Vulgaris Market growth during the forecast period 2020-2025 are the rising prevalence of acne and the growing teenage population. 85% of teenagers get acne, typically beginning at age 11 for girls and a couple of years later for boys, according to UC Davis Health. In addition, millennials actually make up 22.2% of the South Korean population, according to the Korean Statistics Bureau (KOSTAT), thus providing significant growth opportunity for the industry growth.
Gladerma S.A. has made significant investments to grow its aesthetic portfolio, which includes the skin care brands for acne vulgaris.
The Major Players in this Market Include
The major companies in the South Korea Acne Vulgaris market include Kwan Dong Pharma, Bayer AG, Otsuka Pharmaceuticals, Gladerma S.A., GSK Plc., Pfizer Inc., among others. In 2020, Biotronik launched Next-Generation Drug Eluting Stent System in the CE region.
Over the years, companies have mainly focused on safety and have been investing in developing various technologies to provide treatments for acne. Manufacturers in this market are involved into the production of more acne vulgaris products which are preferred by consumers. Rising number new manufacturers producing these products are set to increase in the degree of competition are the major factors set to buoy the South Korea Acne Vulgaris market during 2019-2025.
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