Dermatological Drugs - Angola

Angola

The Dermatological Drugs market in Angola is expected to reach a projected revenue of US$5.10m in 2024.
This market is projected to witness an annual growth rate (CAGR 2024-2029) of 5.61%, leading to a market volume of US$6.70m by 2029.
In comparison to other countries, United States is forecasted to generate the highest revenue in the Dermatological Drugs market, amounting to US$11,670.00m in 2024.
The demand for dermatological drugs in Angola is rising due to the increasing awareness about skincare and the growing middle-class population.

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

Market

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Analyst Opinion

The demand for dermatological drugs in Angola has been on the rise in recent years.

Customer preferences: Angolan customers are increasingly seeking dermatological drugs due to the growing awareness of skin health. The rise in disposable income has also led to an increase in demand for premium skincare products.

Trends in the market: The dermatological drugs market in Angola has been growing due to the increase in skin-related diseases in the country. The demand for dermatological drugs has been driven by the growing incidence of skin cancer, eczema, psoriasis, and acne. The market has also been driven by the increasing popularity of cosmetic dermatology procedures such as Botox and fillers.

Local special circumstances: The market for dermatological drugs in Angola is characterized by a lack of local manufacturers, which has led to a reliance on imports. The high cost of importing dermatological drugs has led to a rise in counterfeit products, which has had a negative impact on the market.

Underlying macroeconomic factors: The Angolan economy has been growing in recent years, which has led to an increase in disposable income. The growth in the economy has also led to an increase in the number of people with access to healthcare, which has driven the demand for dermatological drugs. The government's efforts to improve the healthcare system have also contributed to the growth of the dermatological drugs market in Angola.

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.