The global isotretinoin drugs market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Increasing prevalence of various skin disorders, genetic disorders and cancer are major driving forces for the market. Moreover, increasing R&D funding another major driving factor for the market growth. The market for isotretinoin drugs was around US$ 1257.0 million in 2016 and is expected to reach US$ 1567.1 million which is projected to grow at a CAGR of 3.2% by 2023.
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Hoffmann-La Roche Ltd is pioneer in global Isotretinoin drugs market. Major Isotretinoin drugs manufacturers like F. Hoffmann-La Roche Ltd, Mylan N.V. and Ranbaxy Laboratories Inc. are holding major market share while other players holds reasonable amount of share in the market. North America and Europe is main focus of all major players but due to rapid growth rate in Asia-Pacific, these companies are expanding their business in this region. Isotretinoin drugs causes some serious side effects such as birth defects and depression. To avoid these kind of situation, drug manufacturers are focusing more on new drug development.
Global Isotretinoin drugs Market has been segmented on the basis of application which comprise severe acne, Neuroblastoma, Cutaneous T-Cell Lymphomas, harlequin ichthyosis, xeroderma pigmentosum, fibrodysplasia ossificans progressiva, Squamous cell skin cancers, and others. Severe acne is further sub-segmented into Nodulocystic acne, Acne conglobate, Acne fulminans, Gram negative folliculitis, and others. Neuroblastoma is further sub-segmented into Stage 1, Stage 2A, Stage 2B, Stage 3, Stage 4, Stage 4S, and others. Cutaneous T-Cell Lymphomas is further sub segmented into Mycosis fungoides, Pagetoid reticulosis, Lymphomatoid papulosis, Granulomatous slack skin, and others. Xeroderma pigmentosum is further sub-segmented into group A, group B, group C, group D, and others. On the basis of end user, the market is segmented into Hospitals, Research laboratories, and others.
Globally, North America is holding the largest market share in global Isotretinoin drugs due to increasing prevalence of various skin diseases. While the European region accounts the second largest market in this market. The increasing cases of various genetic disorders and cancer in Western Europe region has spurred the growth rate and it accounts largest share in European market. Due to developing healthcare sector, rising healthcare spending and increasing awareness of disorder and diseases, Asia-Pacific region will be fastest growing market for isotretinoin drugs during the forecast period. Middle East and Africa isotretinoin drugs market is expected to grow slower than global average during the forecast period.
There are plenty of large and small market players which operate in this market: Akorn, Inc. (US), Dr. Reddy’s Laboratories Ltd. (India), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (US), Ranbaxy Laboratories Inc, a SUN PHARMA company. (India), Teva Pharmaceuticals USA, Inc (US), and others
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