The demand for Dermatological Drugs in Southern Europe is on the rise, driven by various factors such as increasing prevalence of skin diseases, growing awareness about skin health, and rising disposable income.
Customer preferences: Customers in Southern Europe are increasingly looking for advanced and innovative dermatological drugs that offer better results with minimal side effects. They prefer drugs that are easy to apply and have a shorter treatment duration. Additionally, there is a growing demand for natural and organic skincare products, which has led to the development of new products in the market.
Trends in the market: Spain and Italy are the largest markets for Dermatological Drugs in Southern Europe. In Spain, the market is driven by the high incidence of skin diseases, particularly among the aging population. Italy, on the other hand, has a large market for cosmetic dermatology, which includes treatments for skin aging and other aesthetic concerns. The market is also witnessing a trend towards personalized skincare, with companies offering customized treatments based on an individual's skin type and concerns.
Local special circumstances: Southern Europe has a high incidence of skin diseases, particularly due to the region's warm climate and high exposure to sunlight. This has led to a growing demand for sun protection products and treatments for skin conditions such as acne, psoriasis, and eczema. Additionally, the region has a large aging population, which is also driving the demand for dermatological drugs.
Underlying macroeconomic factors: The rising disposable income in Southern Europe is driving the demand for dermatological drugs, particularly for cosmetic dermatology. The region has also witnessed an increase in medical tourism, with patients from other parts of Europe traveling to Southern Europe for dermatological treatments. The increasing prevalence of skin diseases and growing awareness about skin health is also driving the growth of the market.
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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