Dermatological Drugs - G20

The Dermatological Drugs market in the G20 countries is projected to reach a revenue of US$20.06bn by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.49%, resulting in a market volume of US$26.20bn by 2029.
Among the G20 countries, United States is anticipated to generate the highest revenue, with US$11,670.00m in 2024.
In the United States, the dermatological drugs market is experiencing a surge in demand due to the rising prevalence of skin conditions and the growing aging population.

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

Market

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Currency

Analyst Opinion

The demand for dermatological drugs has been on the rise in recent years in G20 countries, which are the largest economies in the world. This can be attributed to several factors, including the increasing prevalence of skin diseases, aging populations, and growing awareness about the importance of skin health.

Customer preferences: Customers in G20 countries are increasingly seeking out dermatological drugs that are effective, safe, and affordable. They are also looking for products that are easy to use and have minimal side effects. In addition, there is a growing demand for natural and organic products, as consumers become more conscious about the ingredients used in their skincare products.

Trends in the market: The dermatological drugs market in G20 countries is characterized by several trends. Firstly, there is a growing demand for prescription drugs, as dermatologists are increasingly prescribing medication to treat skin diseases. Secondly, there is a shift towards combination therapies, where multiple drugs are used to treat a single condition. Thirdly, there is a trend towards the development of biologic drugs, which are derived from living organisms and are highly effective in treating certain skin diseases.In the United States, there is a growing demand for over-the-counter dermatological drugs, as consumers seek to self-treat minor skin conditions. In Europe, there is a trend towards the use of natural and organic products, as consumers become more aware of the potential harmful effects of certain chemicals used in skincare products. In China, there is a growing demand for anti-aging products, as the population ages and becomes more concerned about wrinkles and other signs of aging.

Local special circumstances: There are several local special circumstances that are driving the demand for dermatological drugs in G20 countries. In Brazil, for example, the high prevalence of skin diseases such as acne and psoriasis is driving the demand for prescription drugs. In Japan, the aging population is driving the demand for anti-aging products. In India, the growing middle class is driving the demand for affordable skincare products.

Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the dermatological drugs market in G20 countries. These include rising disposable incomes, increasing healthcare spending, and growing awareness about the importance of skin health. In addition, the increasing prevalence of skin diseases is also driving demand for dermatological drugs. Finally, the aging population in many G20 countries is driving demand for anti-aging products and treatments.

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.