Dermatological Drugs - Americas

Americas

In the Americas, specifically United States, the Dermatological Drugs market is anticipated to witness significant growth.
By 2024, the revenue in this market is projected to reach a staggering US$12.86bn.
This growth is expected to continue, with an estimated annual growth rate (CAGR 2024-2029) of 5.30%.
As a result, the market volume is predicted to reach US$16.65bn by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in the Dermatological Drugs market, reaching US$11,670.00m in 2024.
In the Americas, the dermatological drugs market is witnessing a surge in demand due to the growing awareness about skin health and increasing disposable income.

Key regions: United Kingdom, Canada, Japan, Europe, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Dermatological Drugs market in Americas has been experiencing steady growth over the past few years.

Customer preferences: Customers in the Americas are increasingly seeking out dermatological drugs to address a range of skin conditions, including acne, eczema, and psoriasis. In addition, the aging population in the region has been driving demand for anti-aging products.

Trends in the market: One of the key trends in the Americas Dermatological Drugs market is the increasing popularity of topical drugs. These drugs are applied directly to the skin and can be more effective and less invasive than oral medications. Another trend is the growing demand for natural and organic skincare products, as customers become more aware of the potential risks associated with synthetic ingredients.

Local special circumstances: The Americas market is highly competitive, with a large number of players vying for market share. In addition, regulatory requirements can vary significantly across different countries in the region, which can make it challenging for companies to navigate the market.

Underlying macroeconomic factors: The growth of the Dermatological Drugs market in the Americas is being driven by a number of macroeconomic factors, including rising disposable incomes and increasing healthcare spending. In addition, the region has a large and aging population, which is expected to continue driving demand for dermatological drugs in the coming years.

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.