Dermatological Drugs - Burundi

Burundi

The Dermatological Drugs market in Burundi is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$0.35m in 2024.
Furthermore, a steady annual growth rate (CAGR 2024-2029) of 6.52% is expected, which will result in a market volume of US$0.48m by 2029.
When compared globally, it is worth noting that United States will generate the highest revenue in this market, reaching US$11,670.00m in 2024.
This showcases the dominance of the United States in the Dermatological Drugs market on a global scale.
Burundi's dermatological drugs market is witnessing a surge in demand due to increasing awareness about skincare and rising prevalence of skin-related diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Burundians have become more aware of skin health and the importance of seeking medical attention for dermatological issues. As a result, there has been an increased demand for dermatological drugs in the country.

Trends in the market: One of the major trends in the Burundian dermatological drugs market is the increasing use of topical medications. This trend is driven by the fact that topical medications are less invasive and have fewer side effects compared to other forms of medication. In addition, there has been a growing preference for branded drugs over generic drugs due to the perception that branded drugs are of higher quality.

Local special circumstances: The Burundian market for dermatological drugs is characterized by a high level of fragmentation, with many small local players competing with multinational companies. This has led to intense competition and price wars, which have made it difficult for new entrants to establish themselves in the market.

Underlying macroeconomic factors: Burundi has a growing middle class, which has contributed to the increase in demand for dermatological drugs. In addition, the country's healthcare system has improved in recent years, with the government investing in the expansion of healthcare facilities and training of healthcare professionals. However, the country still faces challenges such as poverty, political instability, and weak infrastructure, which may affect the growth of the dermatological drugs market in the long run.

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.