Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Australia & Oceania has been increasing steadily over the past few years. This can be attributed to various factors such as a rise in skin disorders, a growing aging population, and an increase in awareness about skincare.
Customer preferences: Customers in Australia & Oceania are increasingly looking for natural and organic skincare products. They are also willing to pay higher prices for products that are environmentally friendly and cruelty-free. In addition, there is a growing demand for personalized skincare solutions that cater to individual needs.
Trends in the market: The market for dermatological drugs in Australia & Oceania is expected to grow at a steady pace over the next few years. This growth can be attributed to an increase in the prevalence of skin disorders such as eczema, psoriasis, and acne. The aging population is also contributing to the growth of the market as they are more prone to skin problems such as wrinkles, age spots, and skin cancer. Another trend in the market is the rise of telemedicine, which allows patients to consult with dermatologists remotely and receive prescriptions for dermatological drugs.
Local special circumstances: Australia & Oceania have a unique climate and environment, which has a significant impact on the skin. The harsh sun and dry climate make the population more prone to skin damage and diseases such as skin cancer. As a result, there is a high demand for sun protection and anti-aging products. In addition, the indigenous population has a different skin type and may require specialized skincare products.
Underlying macroeconomic factors: The growing demand for dermatological drugs in Australia & Oceania can be attributed to several macroeconomic factors such as an increase in disposable income, a rise in healthcare spending, and a growing aging population. The region has a high standard of living and consumers are willing to spend more on healthcare and skincare products. The government also provides subsidies for certain dermatological drugs, which makes them more affordable for patients. The rise of medical tourism in the region is also contributing to the growth of the market as patients from other countries seek treatment for skin problems.
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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