The demand for dermatological drugs in Southern Asia has been steadily increasing over the past few years.
Customer preferences: Customers in Southern Asia are increasingly interested in dermatological drugs that can treat a wide range of skin conditions. This includes drugs that can treat acne, eczema, psoriasis, and other common skin conditions. In addition, customers are also looking for drugs that are affordable and accessible.
Trends in the market: One of the major trends in the dermatological drugs market in Southern Asia is the increasing popularity of herbal and natural remedies. Many customers are turning to traditional remedies such as neem, turmeric, and aloe vera to treat their skin conditions. Another trend is the growing demand for customized skincare solutions. Customers are looking for products that are tailored to their specific skin type and condition.
Local special circumstances: Southern Asia has a large population that is highly diverse in terms of ethnicity, culture, and skin type. This means that there is a high demand for dermatological drugs that can cater to different skin types and conditions. In addition, the hot and humid climate in many parts of the region can exacerbate skin conditions, leading to a higher demand for effective treatments.
Underlying macroeconomic factors: The dermatological drugs market in Southern Asia is being driven by a number of underlying macroeconomic factors. One of these is the growing middle class in the region, which has more disposable income to spend on healthcare products. In addition, there is a growing awareness of the importance of skincare and the impact of pollution and other environmental factors on skin health. Finally, the rise of e-commerce in the region has made it easier for customers to access a wider range of dermatological drugs and skincare products.
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.
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