The demand for dermatological drugs has been steadily increasing in recent years due to the rising prevalence of skin diseases and disorders worldwide.
Customer preferences: Customers are increasingly seeking out dermatological drugs that are effective in treating a variety of skin conditions, including acne, eczema, and rosacea. They are also looking for products that are easy to use, have minimal side effects, and are affordable. In addition, there is a growing demand for natural and organic products in the dermatological drugs market.
Trends in the market: Growth in the market for dermatological drugs is mainly driven by three factors: an increasing number of patients due to environmental conditions triggering skin problems, higher awareness of dermatological issues, resulting in rising expenditure on personal care, and large investments by companies in novel dermatological drugs.
Local special circumstances: In India, the market for dermatological drugs is being driven by the high prevalence of skin diseases and the increasing demand for cosmetic procedures. In Brazil, the market is being driven by the high demand for anti-aging products and the increasing awareness of the harmful effects of sun exposure. In China, the market is being driven by the increasing demand for natural and organic products, as well as the rising prevalence of skin diseases such as acne and eczema.
Underlying macroeconomic factors: The global dermatological drugs market is being driven by several underlying macroeconomic factors, including the aging population, rising disposable income, increasing prevalence of skin diseases, and the growing awareness of skincare. In addition, the increasing demand for natural and organic products is also driving the market, as consumers become more conscious of the ingredients in the products they use. However, the market is also facing challenges such as the high cost of dermatological drugs and the increasing competition from generic drugs.
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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