Dermatological Drugs - Finland

Finland

The Dermatological Drugs market in Finland is expected to see a significant increase in revenue by 2024, reaching a projected amount of US$44.42m.
This growth is anticipated to continue at an annual growth rate of 5.38% from 2024 to 2028, resulting in a market volume of US$54.77m by the end of the forecast period.
When compared to other countries worldwide, United States is projected to generate the highest revenue in the Dermatological Drugs market.
In 2024, United States is expected to generate a revenue of US$13,260.00m, showcasing its dominance in the global market.
Finland is experiencing a growing demand for dermatological drugs due to the high prevalence of skin conditions among its population.

Key regions: Brazil, Germany, Italy, Australia, Canada

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Analyst Opinion

The demand for dermatological drugs has been on the rise in Finland in recent years.

Customer preferences: Finland has a high prevalence of skin diseases, such as psoriasis and atopic dermatitis, which has led to an increase in demand for dermatological drugs. Additionally, the aging population has also contributed to the growth of the market, as older individuals are more prone to skin-related issues.

Trends in the market: The dermatological drugs market in Finland has seen a shift towards more natural and organic products. Consumers are becoming more aware of the potential side effects of synthetic drugs and are seeking alternative treatments. This has led to an increase in demand for natural and herbal remedies, as well as a rise in the use of probiotics for skin health.

Local special circumstances: Finland has a well-developed healthcare system, which provides easy access to dermatological treatments. The country also has a high level of education and awareness about skin health, which has led to a more proactive approach towards treating skin diseases. Additionally, Finland has a growing interest in sustainable and eco-friendly products, which has led to an increase in demand for natural and organic dermatological drugs.

Underlying macroeconomic factors: The Finnish economy has been stable in recent years, with a steady increase in GDP. This has led to an increase in disposable income, which has allowed consumers to spend more on healthcare and beauty products. Additionally, the government has implemented policies to promote the use of generic drugs, which has led to a decrease in the cost of dermatological drugs and an increase in demand.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.