Key regions: United Kingdom, Canada, Japan, Europe, China
The demand for dermatological drugs in Iraq has been on the rise in recent years.
Customer preferences: Customers in Iraq prefer dermatological drugs that are affordable and effective. They are more inclined towards topical treatments that can be applied directly to the affected area. Due to the hot and dry climate in the region, customers also prefer products that provide moisturizing and hydrating effects.
Trends in the market: The dermatological drugs market in Iraq is witnessing a shift towards herbal and natural products. Customers are becoming more conscious of the potential side effects of synthetic drugs and are opting for alternative treatments. This trend is driven by the increasing availability of herbal products in the market and the growing awareness about their benefits.Another trend in the market is the increasing demand for products that address specific skin conditions such as acne, psoriasis, and eczema. This trend is driven by the rising incidence of these skin conditions in Iraq. Customers are looking for targeted treatments that can provide relief from their symptoms.
Local special circumstances: The ongoing conflict in Iraq has had a significant impact on the dermatological drugs market. The instability in the region has disrupted the supply chain and led to shortages of certain products. This has resulted in price increases and limited availability of some drugs.Additionally, the hot and dry climate in Iraq can lead to various skin conditions such as dryness, itching, and rashes. This has led to a higher demand for moisturizing and soothing products.
Underlying macroeconomic factors: The Iraqi economy has been affected by the decline in oil prices and the ongoing conflict in the region. This has led to a decrease in purchasing power and a shift towards more affordable products. The government has also implemented price controls on certain drugs to make them more accessible to the general population.Overall, the dermatological drugs market in Iraq is driven by customer preferences for affordable and effective treatments, a shift towards herbal and natural products, and the rising incidence of specific skin conditions. The ongoing conflict and the hot and dry climate in the region have also had a significant impact on 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.
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