Dermatological Drugs - Eastern Africa

  • Eastern Africa
  • The Eastern Africa region is projected to witness significant growth in the Dermatological Drugs market.
  • By 2024, the revenue in this market is estimated to reach US$33.66m.
  • Furthermore, it is expected to exhibit an impressive compound annual growth rate (CAGR 2024-2029) of 6.11%, resulting in a market volume of US$45.28m by 2029.
  • When compared globally, United States is predicted to generate the highest revenue in this sector, with an estimated value of US$11,670.00m in 2024.
  • The demand for dermatological drugs in Eastern Africa is increasing due to the rising prevalence of skin diseases in the region.

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

 
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Analyst Opinion

The demand for dermatological drugs in Eastern Africa has been steadily increasing over the years, driven by a combination of factors such as rising skin diseases, growing awareness of skin health, and an increase in disposable income.

Customer preferences:
The majority of consumers in Eastern Africa prefer to use natural or herbal remedies for skin conditions due to cultural beliefs and the perceived safety of such remedies. However, there is a growing preference for dermatological drugs, especially among the urban population, who are more exposed to Western medicine and have a higher willingness to pay for quality products.

Trends in the market:
The dermatological drugs market in Eastern Africa is witnessing a shift towards more innovative and advanced products. Topical steroids and antibiotics are the most commonly used drugs in the region, but there is a growing demand for biologics and other advanced therapies. Additionally, there is an increasing focus on developing products that cater to specific skin types and conditions prevalent in the region, such as hyperpigmentation and eczema.

Local special circumstances:
Eastern Africa has a diverse population with varying skin types and conditions. The region also has a high prevalence of skin diseases such as eczema, psoriasis, and fungal infections, which are often aggravated by the hot and humid climate. Additionally, poor hygiene practices, lack of access to clean water, and inadequate sanitation facilities contribute to the spread of skin diseases.

Underlying macroeconomic factors:
The dermatological drugs market in Eastern Africa is driven by several macroeconomic factors such as rising disposable income, increasing urbanization, and a growing middle class. With a rise in income levels, consumers are willing to spend more on healthcare products, including dermatological drugs. Moreover, the increasing urbanization and a growing middle class are leading to lifestyle changes, such as increased exposure to pollution, which contributes to the rise in skin diseases.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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