Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in ASEAN has been steadily increasing over the past few years.
Customer preferences: Customers in ASEAN are increasingly becoming aware of the importance of skincare and are willing to spend more on dermatological drugs. The rise in disposable income has also contributed to the growth of this market. Additionally, the prevalence of skin diseases, such as acne and eczema, has led to an increase in demand for dermatological drugs.
Trends in the market: Indonesia is one of the largest markets for dermatological drugs in ASEAN. The country has a large population and a high prevalence of skin diseases, which has led to an increase in demand for dermatological drugs. In addition, the government has been taking steps to improve access to healthcare, which has also contributed to the growth of this market.Malaysia and Thailand are also significant markets for dermatological drugs in ASEAN. The rise in disposable income in these countries has led to an increase in demand for high-end skincare products. Additionally, the popularity of medical tourism in these countries has led to an increase in demand for dermatological drugs.
Local special circumstances: In Singapore, the demand for dermatological drugs is driven by the high prevalence of skin cancer. The country has one of the highest rates of skin cancer in the world, which has led to an increase in demand for dermatological drugs.In the Philippines, the demand for dermatological drugs is driven by the high prevalence of acne. The country has one of the highest rates of acne in the world, which has led to an increase in demand for acne treatments.
Underlying macroeconomic factors: The rise in disposable income in ASEAN has been a major driver of the growth of the dermatological drugs market. As consumers have more money to spend on skincare products, they are willing to invest in high-end dermatological drugs.In addition, the growth of medical tourism in ASEAN has also contributed to the growth of the dermatological drugs market. As more people travel to ASEAN for medical treatments, there is an increase in demand for dermatological drugs.Overall, the dermatological drugs market in ASEAN is expected to continue to grow in the coming years, driven by the rise in disposable income and the increasing awareness of the importance of skincare.
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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