Dermatological Drugs - EU-27

EU-27

The revenue of the Dermatological Drugs market in the EU-27 is expected to reach US$2.67bn in 2024.
It is projected to exhibit an annual growth rate (CAGR 2024-2029) of 5.32%, leading to a market volume of US$3.46bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$11,670.00m in 2024.
In the EU-27, the demand for dermatological drugs is rising due to an aging population and an increasing prevalence of skin conditions.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Dermatological Drugs market in EU-27 has been experiencing significant growth in recent years, driven by a variety of factors both global and local.

Customer preferences: Consumers in the EU-27 have become increasingly health-conscious, leading to a growing demand for dermatological drugs that can address a range of skin conditions. Additionally, an aging population has also contributed to the growth of the market, as older individuals are more likely to experience skin-related issues.

Trends in the market: One major trend in the EU-27 market is the increasing popularity of biologic drugs, which are derived from living organisms and can offer targeted treatment for specific skin conditions. Additionally, there has been a rise in the development of topical treatments that are easier to administer and have fewer side effects than traditional oral medications.

Local special circumstances: The EU-27 market is highly regulated, and the approval process for new dermatological drugs can be lengthy and expensive. However, once a drug is approved, it can be marketed across all member states, providing a large potential customer base for drug manufacturers.

Underlying macroeconomic factors: The overall growth of the dermatological drugs market in the EU-27 can be attributed to a variety of macroeconomic factors, including increasing healthcare spending, rising disposable incomes, and a growing awareness of the importance of skin health. Additionally, advancements in technology and research have led to the development of more effective and targeted treatments for a range of skin conditions.

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.