Dermatological Drugs - Guinea | Statista Market Forecast

The Dermatological Drugs market in Guinea is forecasted to achieve a revenue of US$1.11m in 2024.
It is expected to experience a steady annual growth rate (CAGR 2024-2029) of 5.98%, leading to a market volume of US$1.48m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$11.67bn in 2024.
The demand for dermatological drugs in Guinea has been steadily rising due to an increase in skin-related diseases and disorders.

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 Dermatological Drugs market in Guinea is a growing market that has been gaining momentum in recent years.

Customer preferences: Customers in Guinea are becoming more aware of the importance of skincare and are increasingly seeking out dermatological drugs to address a variety of skin conditions. This trend is in line with global market trends, as consumers worldwide are becoming more interested in taking care of their skin.

Trends in the market: One trend that is driving growth in the Dermatological Drugs market in Guinea is the increasing prevalence of skin conditions such as acne, eczema, and psoriasis. In addition, the market is benefiting from the growing popularity of cosmetic dermatology procedures, which are becoming more widely available in Guinea.

Local special circumstances: One factor that is unique to the Dermatological Drugs market in Guinea is the country's high prevalence of parasitic skin infections such as scabies and lice. This has led to a high demand for antiparasitic drugs, which are a significant segment of the market.

Underlying macroeconomic factors: The growth of the Dermatological Drugs market in Guinea is being driven by a number of macroeconomic factors, including the country's growing population and rising disposable incomes. In addition, the increasing availability of healthcare services and the expansion of the pharmaceutical industry in Guinea are also contributing to the growth of the 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.