Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Brunei Darussalam has been increasing steadily in recent years.
Customer preferences: Customers in Brunei Darussalam are increasingly becoming more aware of the importance of skincare and are willing to invest in high-quality dermatological drugs. The younger generation is particularly interested in products that offer both therapeutic and cosmetic benefits.
Trends in the market: One of the major trends in the dermatological drugs market in Brunei Darussalam is the increasing demand for natural and organic products. Customers are increasingly seeking out products that are free from harmful chemicals and are made from natural ingredients. Another trend is the growing popularity of multifunctional products that offer both therapeutic and cosmetic benefits.
Local special circumstances: Brunei Darussalam has a small population, and this has led to a relatively small market for dermatological drugs. However, the country has a high GDP per capita, and this means that customers are willing to pay a premium for high-quality products. Additionally, the country has a hot and humid climate, which can lead to a range of skin problems, including acne, eczema, and fungal infections.
Underlying macroeconomic factors: The healthcare sector in Brunei Darussalam is relatively underdeveloped, and this has led to a reliance on imported drugs and medical supplies. However, the government has been investing in the sector in recent years, and this is expected to drive growth in the dermatological drugs market. Additionally, the country has a young and growing population, which is expected to further increase demand for skincare products in the coming years.
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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