Aging-Related Angst Invigorates Dermatological Drug Market

ByDeborah Austin An aging population, movement toward "lifestyle" drugs addressing physical conditions' effects on emotional health, and other trends could feed an already-robust market for prescription dermatological drugs, forecasts a new study from market research firm Kalorama Information. The global market for prescription dermatological drugs achieved a 9% compound annual growth rate (CAGR) between 1996 and 2001, and Kalorama forecasts 10.1% growth in the following half-decade. The market totaled nearly $6.9 billion in 2001 and is expected to reach $10.6 billion by 2006. The past five years' highest-growth segment was hair-loss treatment and hair removal at nearly 55%. Future bloomers may include the anti-aging segment at 14.5% compound annual growth -- spurred by botulinum agents (Botox) -- forecasts Kalorama. But 2001's largest segment, antifungals -- which accounted for 31.5% of the global market -- will remain No. 1 in 2006 at 30.6%. Kalorama is a division of MarketResearch.com, New York, a provider of market intelligence products.