Dermatological Drugs - Ireland | Statista Market Forecast

In Ireland, the revenue in the Dermatological Drugs market is projected to reach US$44.09m in 2024.
Looking ahead, there is an expected annual growth rate (CAGR 2024-2029) of 5.24%, which will result in a market volume of US$56.92m by 2029.
When comparing globally, United States is expected to generate the highest revenue in this market, reaching US$11.67bn in 2024.
Ireland's dermatological drugs market is experiencing a surge in demand for innovative skincare treatments due to the country's growing awareness of skin health and beauty.

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 Ireland has been steadily increasing over the years, with a significant rise in recent times.

Customer preferences: Customers in Ireland are increasingly seeking out dermatological drugs that are effective in treating a wide range of skin conditions. They are also looking for products that are affordable and easily accessible. With the rise of social media, customers are more informed about the different options available in the market and are willing to try out new products.

Trends in the market: One of the key trends in the dermatological drugs market in Ireland is the increasing demand for prescription drugs. This is due to the rising prevalence of skin diseases and conditions, which require specialized treatment. Another trend is the growing popularity of natural and organic skincare products, as customers become more conscious of the ingredients they use on their skin.

Local special circumstances: Ireland has a high incidence of skin cancer, which has led to increased awareness about the importance of sun protection and early detection. This has resulted in a growing demand for sun protection products and regular skin check-ups. Additionally, the country has a temperate climate with high levels of humidity, which can exacerbate certain skin conditions such as eczema and psoriasis.

Underlying macroeconomic factors: The Irish economy has been growing steadily in recent years, which has led to an increase in disposable income among consumers. This has resulted in a greater willingness to spend on healthcare products, including dermatological drugs. Additionally, the country has a well-developed healthcare system with a strong emphasis on preventive care, which has 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.