Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in CIS is on the rise due to various factors that are shaping the market.
Customer preferences: Customers in CIS are increasingly interested in products that offer a balance between efficacy and safety. They are also looking for products that are affordable and easily accessible. This has led to an increase in demand for generic drugs, which are cheaper than their branded counterparts. Customers are also seeking products that are easy to use and have minimal side effects.
Trends in the market: One of the major trends in the dermatological drugs market in CIS is the increasing prevalence of skin diseases. This has led to an increase in demand for drugs that treat conditions such as acne, psoriasis, and eczema. Another trend is the growing popularity of cosmetic dermatology, which has led to an increase in demand for products that improve skin appearance and texture. The market is also witnessing a shift towards natural and organic products, as customers become more conscious of the ingredients in the products they use.
Local special circumstances: The dermatological drugs market in CIS is highly fragmented, with a large number of small and medium-sized companies operating in the market. This has led to intense competition, with companies vying for market share by offering innovative products and competitive pricing. Another special circumstance is the presence of a large number of counterfeit products in the market, which has led to a lack of trust among customers.
Underlying macroeconomic factors: The dermatological drugs market in CIS is influenced by various macroeconomic factors, such as GDP growth, healthcare expenditure, and regulatory policies. The market is expected to grow at a steady pace due to the increasing prevalence of skin diseases and the growing demand for cosmetic dermatology. However, the market is also subject to various challenges, such as the lack of reimbursement policies for dermatological drugs and the presence of counterfeit products. Overall, the market is expected to continue to grow, driven by increasing demand for dermatological drugs in CIS.
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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