The backfire of self-medication is said to be the key driving force for the acne industry's growth
The global acne market will be worth over $7bn mark by 2025, latest research suggests.
Market research company Persistence Market Research (PMR) have said the market is set to rise from $4.9bn in 2016 to $7.3bn by 2025, reflecting an annual growth rate of 4.6%.
It says that the inflammatory acne segment is the main reasons for the category’s growth. The firm estimates that while the sub-category will maintain 60% of its market share, it will grow from $3bn to $4.5bn by 2025.
The market research company claims that teenage consumers are turning to acne treatment drugs and medication, after becoming disenchanted with the self-medication alternatives.
According to PMR, 20% of under 13-year-olds suffer from moderate-to-severe acne issues.
“The average age of onset of acne has reduced from 14-15 years to 11-12 years due to changing demographics and social habits,” the report said.
“Moreover, some of the misleading media content continue to encourage the habit of self-medication that often backfires, resulting in further complications.”
The US and Asia-Pacific are expected to remain key markets for the acne market. The US is expected to exceed $3.2bn by 2025 and to account for 43% of the global market share.
Asia-Pacific will reach $1.7bn by 2025 and is expected to expand to 4.8% of the revenue share.