Dermatological Drugs - Pakistan

Pakistan

The Dermatological Drugs market in Pakistan is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$22.17m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 5.87% from 2024 to 2028.
This growth trajectory is expected to result in a market volume of US$27.85m by 2028.
In terms of global comparison, it is worth noting that United States is expected to generate the highest revenue in the Dermatological Drugs market.
In 2024, the revenue United States is projected to reach a staggering US$13,260.00m.
This showcases the dominant position of the United States in this market.
Pakistan's dermatological drugs market is experiencing rapid growth due to increasing awareness about skincare and a growing middle-class population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Dermatological Drugs market in Pakistan has seen steady growth in recent years.

Customer preferences: Customers in Pakistan prefer affordable and effective dermatological drugs. They are price-sensitive and seek value for money. Due to the hot and humid climate in Pakistan, skin-related issues are common, leading to a high demand for dermatological drugs.

Trends in the market: The market for dermatological drugs in Pakistan is driven by the increasing prevalence of skin diseases and conditions. The rise in pollution levels and unhealthy lifestyles has led to an increase in skin-related issues, including acne, eczema, and psoriasis. The increasing awareness of the importance of skincare and the availability of a wide range of dermatological drugs have also contributed to the growth of the market.

Local special circumstances: The Pakistani market is highly competitive, with both local and multinational companies operating in the market. Local companies dominate the market due to their lower prices and strong distribution networks. However, multinational companies are also gaining market share due to their strong brand recognition and product innovation. The government of Pakistan has implemented price controls on certain drugs, which has affected the profitability of companies operating in the market.

Underlying macroeconomic factors: Pakistan has a rapidly growing population, which is expected to drive the demand for dermatological drugs in the coming years. The country's healthcare infrastructure is also improving, which is expected to increase access to healthcare services, including dermatological treatments. The increasing disposable income of the population is also expected to drive demand for higher-priced dermatological drugs.In conclusion, the dermatological drugs market in Pakistan is expected to continue its growth trajectory in the coming years. The increasing prevalence of skin-related issues, the availability of a wide range of dermatological drugs, and the improving healthcare infrastructure are expected to drive demand for dermatological drugs in the country. However, the market is highly competitive, and companies will need to focus on innovation and price competitiveness to succeed in the market.

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.