Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Europe has been increasing steadily in recent years due to various factors such as the rise in skin diseases, growing awareness about skin health, and technological advancements in the field of dermatology.
Customer preferences: Customers in Europe are increasingly looking for dermatological drugs that are effective, safe, and affordable. They are also interested in products that are easy to use and have minimal side effects. Additionally, there is a growing demand for natural and organic skincare products in the region.
Trends in the market: One of the major trends in the European dermatological drugs market is the increasing focus on research and development of new drugs and therapies. The market is witnessing a rise in the number of clinical trials for dermatological drugs, which is expected to result in the launch of new and innovative products in the coming years.Another trend in the market is the growing popularity of topical drugs, which are applied directly to the skin. These drugs are preferred over oral medications as they have fewer side effects and are more targeted in their action. Additionally, there is a rising demand for combination therapies that use a combination of drugs to treat multiple skin conditions.
Local special circumstances: The European dermatological drugs market is highly regulated, and companies operating in the region need to comply with strict regulations regarding the safety and efficacy of their products. This has led to a consolidation of the market, with larger companies dominating the space.Another special circumstance in the region is the high prevalence of skin diseases such as psoriasis, eczema, and acne. This has led to a growing demand for dermatological drugs in the region, as more and more people seek treatment for these conditions.
Underlying macroeconomic factors: The European dermatological drugs market is expected to continue growing in the coming years due to various macroeconomic factors such as the aging population, increasing disposable income, and growing awareness about skin health. Additionally, the rise in pollution levels and changing weather patterns are expected to lead to an increase in skin diseases, further driving the demand for dermatological drugs in the region.
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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