Dermatological Drugs - Chile | Statista Market Forecast

The Dermatological Drugs market in Chile is anticipated to witness a substantial growth in revenue by 2024, projected to reach US$45.70m.
Furthermore, it is expected to display a promising compound annual growth rate (CAGR 2024-2029) of 5.54%, leading to a substantial market volume of US$59.83m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, amounting to US$11.67bn in 2024.
In Chile, the dermatological drugs market is experiencing a surge in demand due to the rising prevalence of skin conditions and increased awareness about skincare.

Definition:
The Dermatological Drugs market covers treatments of diseases related to skin, nails, hair, and genital membranes. Typical examples are medications for eczema, acne, and rosacea. These preparations include ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, and sprays. Products which are primarily used for cosmetic purposes are not included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Johnson & Johnson, Bayer, Leo Pharma, Galderma

Drugs to treat diseases related to skin, nails, hair, and genital membranes
Steroids such as corticosteroids (topical and systemic)
Topical antihistamines
Antifungals

Cosmetic products
Immunosuppressants to treat psoriasis
Skin cancer treatment

Chile is a country that is known for its diverse geography, ranging from deserts to glaciers. One interesting fact about Chile is that it is the world's leading producer of copper. When it comes to the Dermatological Drugs market in Chile, there are several trends and developments that are worth noting.

Customer preferences: Customers in Chile are increasingly looking for Dermatological Drugs that are effective and affordable. They are also interested in products that are easy to use and have minimal side effects. In addition, customers in Chile are becoming more health-conscious and are willing to try new products that can help them maintain healthy skin.

Trends in the market: One of the major trends in the Dermatological Drugs market in Chile is the increasing demand for topical drugs. This is due to the fact that topical drugs are easy to use and are less invasive than other forms of treatment. Another trend in the market is the growing popularity of natural and organic products. Customers in Chile are becoming more aware of the potential side effects of synthetic drugs and are turning to natural and organic products as a safer alternative.

Local special circumstances: Chile has a high incidence of skin cancer, which is driving demand for Dermatological Drugs that can help prevent or treat the disease. In addition, the country's dry climate can lead to a range of skin problems, such as dryness and flakiness. This is also driving demand for Dermatological Drugs that can help moisturize and soothe dry skin.

Underlying macroeconomic factors: The Chilean economy has been growing steadily in recent years, which has led to an increase in disposable income. This has made it easier for customers to afford Dermatological Drugs, which has contributed to the growth of the market. In addition, the Chilean government has been investing heavily in the healthcare sector, which has led to an increase in the availability of Dermatological Drugs. This has also contributed to the growth of the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.