Los Angeles, CA (PRWEB) November 19, 2013
Acne remains a common skin disorder experienced by teenagers and adolescents, affecting about 40 million to 50 million Americans, according to the American Academy of Dermatology. Due to increasing demand for acne treatments, the Prescription Acne Treatment Manufacturing industry has exhibited positive growth during the five years to 2013, and during the period, IBISWorld estimates that industry revenue has increased. Because acne-prone individuals consider treatment products a necessary expense, revenue continued to rise despite the recession, though growth did slow as consumers switched to more inexpensive products like over-the-counter (OTC) acne treatments. In addition, the increasing prevalence of adult-onset and persistent acne conditions has given rise to new, targeted products and an expanded consumer base, supporting revenue growth during the period. In 2013, with modest economic improvements giving way to greater disposable income growth, industry revenue is expected to increase.
According to IBISWorld Analyst Anna Son, “IBISWorld estimates that the top three players (Valeant Pharmaceuticals International Inc., Allergan Inc. and Galderma Laboratories LP) account for more than 20.0% of industry market share in 2013,” reflecting a low level of concentration. The remainder of the industry is characterized by a large number of small and medium-size businesses. Moreover, IBISWorld research indicates that companies employ only about 41 workers on average. In recent years, demand for prescription acne treatments has been mellow due to the rising use of OTC acne products, which are significantly less expensive and more easily accessible than their prescription counterparts. In recent years, more consumers have treated their acne with OTC products rather than seeing a specialist due to the difficulty of setting an appointment with a dermatologist, a general loss of health insurance coverage and a wide selection of OTC products. Nevertheless, in coming years, industry operators will be able to take advantage of new market opportunities stemming from the prevalence of adult onset acne.
“The outlook for the industry is promising,” says Son. During the five years to 2018, IBISWorld forecasts industry revenue to increase. The industry will benefit from improving economic conditions, as disposable income growth allows consumers to spend on higher-priced items. Furthermore, companies are expected to increasingly develop product lines with all-natural ingredients, given changing consumer preferences. Over the next five years, increasing private health insurance coverage will increasingly allow individuals access to prescription acne treatments, thus boosting industry demand. Still, the industry will continue to experience greater external competition from OTC acne products and laser treatments.
For more information, visit IBISWorld’s Prescription Acne Treatment Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
Companies in the Prescription Acne Treatment Manufacturing industry are engaged in manufacturing prescription medications to control acne.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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