Key regions: United Kingdom, Canada, Japan, Europe, China
Algeria, a North African country, is known for its rich cultural heritage and diverse landscapes. The country has a growing healthcare sector, with a significant focus on dermatological drugs.
Customer preferences: The demand for dermatological drugs in Algeria is primarily driven by skin diseases such as eczema, psoriasis, and acne. The population's preference for topical treatments over systemic treatments is also a significant factor in the market's growth. Moreover, the increasing awareness about skin health and the availability of various over-the-counter dermatological drugs have further boosted the market growth.
Trends in the market: The dermatological drugs market in Algeria has witnessed significant growth in recent years, with a substantial increase in the number of dermatology clinics and hospitals. The market is expected to continue growing due to the rising incidence of skin diseases and the increasing demand for dermatological drugs. The market is also witnessing a shift towards the use of generic drugs, which are cheaper than branded drugs. Furthermore, the market is witnessing an increasing trend towards the use of natural and organic products, which are perceived to be safer and more effective.
Local special circumstances: The Algerian government has implemented various policies to improve the healthcare infrastructure, including the dermatology sector. The government has also encouraged the domestic production of pharmaceuticals, including dermatological drugs, to reduce the country's dependence on imports. Moreover, the country's strategic location has made it a hub for pharmaceutical companies to expand their operations in North Africa.
Underlying macroeconomic factors: The Algerian economy heavily relies on the oil and gas sector, which has been affected by the global decline in oil prices. This has led to a significant decrease in government spending, including healthcare expenditure. However, the government's efforts to diversify the economy and increase the domestic production of pharmaceuticals are expected to boost the market's growth. Furthermore, the country's young population and increasing urbanization are expected to drive the demand for dermatological drugs in the long run.
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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