Singapore Dermatological Therapeutics Market Insights Forecasts to 2033

• The Singapore Dermatological Therapeutics Market Size was valued at USD 0.04 Billion in 2023.
• The Market is growing at a CAGR of 8.45% from 2023 to 2033
• The Singapore Dermatological Therapeutics Market Size is expected to reach USD 0.09 Billion by 2033

The Singapore Dermatological Therapeutics Market is anticipated to exceed USD 0.09 Billion by 2033, growing at a CAGR of 8.45% from 2023 to 2033. The increasing prevalence of skin conditions, growing awareness, and advanced dermatological therapies are driving the growth of the dermatological therapeutics market in Singapore.     

Market Overview

Dermatological therapeutics refers to the treatment of various skin-related conditions from acne to skin cancer. Skin conditions have had a major negative influence on people's quality of life, leading to discrimination because of deformity and decreased productivity at work and other places. Dermatological care is expected to get special emphasis as the population ages. Due to variables like alterations in connective tissue, a decrease in the skin's flexibility and strength, and a decrease in sebaceous gland secretions, people are more susceptible to skin-related illnesses as they age. The increasing investment in research and development of novel dermatological therapeutics drugs by the key market players is offering market opportunities. In addition, the introduction of biological therapies which is the targeted therapeutic approach by extensive study of disease pathophysiology for inflammatory skin diseases with the use of technological advancements is a significant approach for market growth of dermatology therapeutics. 

Report Coverage

This research report categorizes the market for the Singapore dermatological therapeutics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore dermatological therapeutics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore dermatological therapeutics market.

Driving Factors

The increasing prevalence of skin conditions such as dermatitis, acne vulgaris, and viral skin diseases drives the market demand for dermatological therapeutics. Air pollution is considered a risk factor for various skin conditions as it has been demonstrated to affect psoriasis, atopic dermatitis, acne, and hyperpigmentation. The growing awareness about the effect of pollution on skin conditions is propelling the market demand. The introduction of advanced dermatological therapies is further bolstering the dermatology therapeutics market. For instance, in August 2024, Tareen Dermatology announced its partnership with CLINUVEL, a renowned pharmaceutical company, to conduct advanced-stage clinical trials for a revolutionary investigational treatment for vitiligo.

Restraining Factors

The side effects associated with various dermatology therapeutics are challenging the Singapore dermatological therapeutics market.

Market Segmentation

The Singapore Dermatological Therapeutics Market share is classified into drug class and disease.

• The anti-infectives segment dominated the Singapore dermatological therapeutics market over the forecast period.

The Singapore dermatological therapeutics market is segmented by drug class into anti-infectives, corticosteroids, anti-acne, calcineurin inhibitors, retinoids, and others. Among these, the anti-infectives segment dominated the Singapore dermatological therapeutics market over the forecast period. The treatment of inflammatory illnesses involves the use of anti-infective products that have anti-bacterial effects. The availability of anti-infective dermatology therapeutics drugs for treating a variety of dermatological diseases is driving the market.

• The psoriasis segment is anticipated to hold the largest market share during the forecast period.

The Singapore dermatological therapeutics market is segmented by disease into alopecia, herpes, psoriasis, rosacea, skin cancer, acne, atopic dermatitis, vitiligo, hidradenitis, and others. Among these, the psoriasis segment is anticipated to hold the largest market share during the forecast period. Treatments for psoriasis focus on removing scales and slowing down the rapid growth of skin cells. Among the options include oral or injectable drugs, light therapy (phototherapy), and lotions and ointments (topical therapy).

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore dermatological therapeutics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Pfizer Inc.
• GlaxoSmithKline Plc.
• AbbVie Inc.
• Amgen Inc.
• Roche
• Novartis AG
• Bayer
• Johnson & Johnson
• Sanofi
• Almirall SA
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2022, Galderma announced its intention to expand its manufacturing and innovation footprint in the Asia-Pacific region, with support from the Singapore Economic Development Board.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Dermatological Therapeutics Market based on the below-mentioned segments:

Singapore Dermatological Therapeutics Market, By Drug Class

• Anti-Infectives
• Corticosteroids
• Anti-Acne
• Calcineurin Inhibitors
• Retinoids
• Others

Singapore Dermatological Therapeutics Market, By Disease

• Alopecia
• Herpes
• Psoriasis
• Rosacea
• Skin Cancer
• Acne
• Atopic Dermatitis
• Vitiligo
• Hidradenitis
• Others