Image Credit: Shutterstock
Akums Drugs & Pharmaceuticals believes that the dermatology sector is set to boom in India due to people facing factors such as lifestyle changes, environmental changes, pollution, and also short-term factors like heat, humidity and pollution as they resume their daily activities as pandemic-led concerns subside.
According to a recent AWACS AIOCD report, the segment has increased to 30 per cent in MAT May 2022. This spike in dermatology drug sales is a result of the increase in demand for anti-acne, emollients, hair restorers, anti-fungal and skin brightening formulations, as people are resuming their normal activities. This sales trend is due to various factors like stress, humidity, heat, pollution, and long COVID complications that are resulting in myriad skin- and hair-related conditions.
Akums Drugs also sees this development coinciding with the return to normal conditions, with people finally stepping out of their homes, consulting doctors to resume pending treatments and wanting to take care of their skin & hair again in the face of changing climatic conditions and higher levels of pollution.
In India, the anti-infectives, cardiac and diabetes segments have been known to dominate the market; but Akums believes dermatology is strengthening its presence gradually. As per the report, the segment is valued at Rs 11,043 crore in May 2022, and it looks to be one of the fastest-growing therapies going forward.
