Dermatological Drugs - Gambia | Statista Market Forecast

The Dermatological Drugs market in Gambia is projected to reach US$102.00k in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.66%, resulting in a market volume of US$134.30k by 2029.
In global comparison, United States will generate the most revenue, with US$11.67bn in 2024.
The demand for dermatological drugs in Gambia is on the rise, driven by an increasing awareness of skin health and the need for effective treatments.

Definition:
The Dermatological Drugs market covers treatments of diseases related to skin, nails, hair, and genital membranes. Typical examples are medications for eczema, acne, and rosacea. These preparations include ointments, creams, gels, pills, capsules, washing lotions, peelings, pastes, solutions, and sprays. Products which are primarily used for cosmetic purposes are not included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Johnson & Johnson, Bayer, Leo Pharma, Galderma

Drugs to treat diseases related to skin, nails, hair, and genital membranes
Steroids such as corticosteroids (topical and systemic)
Topical antihistamines
Antifungals

Cosmetic products
Immunosuppressants to treat psoriasis
Skin cancer treatment

The demand for dermatological drugs in Gambia has been steadily increasing over the past few years.

Customer preferences: Customers in Gambia prefer dermatological drugs that are affordable and effective. They are also interested in products that are made from natural ingredients and have minimal side effects. Due to the hot and humid climate in Gambia, customers also prefer products that are lightweight and non-greasy.

Trends in the market: One of the major trends in the dermatological drugs market in Gambia is the increasing demand for products that treat skin conditions such as eczema, psoriasis, and acne. This trend is driven by the growing awareness of these conditions and the availability of effective treatments.Another trend in the market is the rising popularity of natural and organic products. Consumers are becoming more aware of the potential side effects of synthetic ingredients and are seeking out products that are made from natural ingredients.

Local special circumstances: Gambia has a tropical climate, which means that customers are more likely to suffer from skin conditions such as sunburn, heat rash, and fungal infections. As a result, there is a high demand for products that protect against these conditions and treat them effectively.

Underlying macroeconomic factors: Gambia is a developing country with a growing economy. This has led to an increase in disposable income and a greater willingness to spend money on healthcare products. Additionally, the government has made efforts to improve healthcare infrastructure and increase access to healthcare services, which has also contributed to the growth of the dermatological drugs market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.